Forbes, Mar. 21, 2020–Dima WilliamsSecretary Ben Carson urged mortgage borrowers struggling financially due to the coronavirus to contact their loan providers and seek forbearance. Carson spoke Saturday during the White …
Category: Top National News
Did Non-QM Just Disappear from the Market?
HousingWire, Mar. 22, 2020–Sarah WheelerThe latest victim of the coronavirus might be non-QM lending. After seeing an increase in activity over the last two years, a number of wholesale lenders …
Marriott, Hotel Owners Furlough Thousands of Workers, Cut Staff
Wall Street Journal, Mar. 22, 2020–Craig Karmin, Esther Fung (subscription)Marriott International Inc., the world’s largest hotel company, and a growing number of hotel owners are furloughing tens of thousands of …
Senate Fails to Advance Coronavirus Stimulus Package
Politico, Mar. 22, 2020–Marianne Levine, John BresnahanThe Senate failed to clear a key procedural hurdle on a $1.6 trillion emergency rescue package to address the coronavirus crisis, after Democrats denied …
Coronavirus Recession Looms, Its Course ‘Unrecognizable’
New York Times, Mar. 21, 2020–Nelson D. Schwartz The American economy is facing a plunge into uncharted waters. Economists say there is little doubt that the nation is headed into …
Homeowners are Getting Federal Mortgage Relief, But Renters Aren’t So Lucky
Washington Post, Mar. 20, 2020–Renae Merle Mortgage servicers have already begun to see an uptick in borrowers seeking help and could quickly become swamped, said Bob Broeksmit, president of the …
Relief for Underwater Homeowners Will Be Different This Time, Lenders Say
American Banker, Mar. 19, 2020–Kevin Wack (subscription)The mortgage industry is insisting that this time will be different. Borrowers who can’t afford their monthly payments as a result of the COVID-19 …
Fed Announces More Emergency Moves to Stem Dollar, Liquidity Strains
Reuters, Mar. 20, 2020–Lindsay Dunsmuir, Howard SchneiderThe U.S. Federal Reserve continued to roll out emergency support on Friday as it enhanced efforts with other major central banks to ease a …
Home Builders Still Hammering Away but Fear a Slowdown Looms
Wall Street Journal, Mar. 20, 2020–Nicole Friedman (subscription)While much of American business has shut down because of the coronavirus pandemic, home builders are still building houses. But these companies are …
MBA’s Bob Broeksmit on What Lenders Need to Know Now to Conduct Business
HousingWire, Mar. 19, 2020–Brena Nath, Alcynna LloydThe Mortgage Bankers Association is working in overdrive right now to serve as a first line of defense for the industry. The coronavirus continues …