Money, Apr. 20. 2020–Martha C. WhiteThe Mortgage Bankers Association says that the supply of available mortgage credit fell 16 percent in March, reaching the lowest level it has been since …
Category: Top National News
Neiman Marcus’ Missed April Interest Payment Could Accelerate a Forced Bankruptcy Filing
Dallas News, April 20, 2020–Maria HalkiasNeiman Marcus bondholder Marble Ridge Capital LP said the Dallas-based retailer failed to make a $5.7 million interest payment that was due Wednesday, possibly setting …
Single-Family Rental Sector Poised for Strong Rebound
National Real Estate Investor, April 20, 2020–Sebastian Obando Some investors raise concerns on rental revenue and occupancy rates, but the single-family rental sector should be well-positioned over the long term. …
Mnuchin, Democrats Close on Virus Aid Deal Nearing $500 Billion
Bloomberg, Apr. 20, 2020–Daniel Flatley, Billy House, Saleha MohsinDemocrats and the Trump administration are near an agreement for Congress to act this week on a deal as large as $500 …
Impac Extends Moratorium on Loan Activity
Mortgage Professional America, Apr. 17, 2020–Ryan SmithImpac Mortgage Holdings has extended indefinitely its moratorium on originations due to the economic impact of COVID-19.https://www.mpamag.com/news/impac-extends-moratorium-on-loan-activity-219951.aspx
Homeowners and Buyers Report on How They’re Impacted by COVID-19
National Mortgage Professional, Apr. 17, 2020–Ben MizesA new study by Clever Real Estate found that the pandemic’s financial toll is exposing some fundamental flaws in the mortgage and rental system, …
The Pandemic is Shrinking the Mortgage Credit Box
Urban Institute, Apr. 17, 2020–Michael Neal, Laurie GoodmanThe authors examine evidence on mortgage rates from recently issued mortgage-backed securities and news about the market to determine how much access to …
Homebuyers Still Shopping Despite Coronavirus-Fueled Pessimism
HousingWire, Apr. 17, 2020–Phil HallDespite numerous challenges, buyers are still house hunting and lenders are still originating purchase loans. (MBA mention)https://www.housingwire.com/articles/homebuyers-still-shopping-despite-coronavirus-fueled-pessimism/?fbclid=IwAR2jSAmE_3DemSFhsa_Cl_edkYXeF6Q3f4hknaANZPQXVOxlaD0OzaJ4g38
More U.S. Homeowners Skip Mortgage Payments with Jobs Vanishing
Bloomberg, Apr. 17, 2020–John GittelsohnMortgage servicers, who are facing a potential liquidity crisis, would need to advance $2.3 billion a month to make good on payments due to investors in …
Nearly 3 Million Borrowers Have Been Granted Mortgage Relief, and the Industry is Crying for Help
CNBC, Apr. 17, 2020–Diana OlickMore than 2.9 million homeowners have taken advantage of a program designed to provide relief to holders of government-backed mortgages, part of the coronavirus CARES Act …