National Mortgage Professional, Apr. 14, 2020–Navi PersaudA recent survey revealed that close to 30 percent of Americans will be allocating their stimulus checks to cover housing costs. In addition, the …
Category: Top National News
Coronavirus-Afflicted Global Economy Is Almost Certainly in Recession
Wall Street Journal, Apr. 14, 2020–Josh Zumbrun (subscription)The global economy has almost certainly entered a recession affecting most of the world, with a severity unmatched by anything aside from the …
Why It’s Suddenly More Difficult to Get a Mortgage
NBC News, Apr. 14, 2020–Martha C. WhiteAccording to the Mortgage Bankers Association, mortgage credit availability declined sharply in March. A benchmark index for mortgage credit availability dropped by 16 percent, …
Mortgage Forbearance Numbers up Due to COVID-19
Marketplace, Apr. 14, 2020–Amy ScottMore Americans are putting their mortgage payments on hold. According to a new survey from the Mortgage Bankers Association, about two million loans were in what’s …
America’s Largest Bank, JPMorgan Chase, Prepares For A Massive Round Of Defaults
NPR, Apr. 14, 2020–Jim ZarroliThe country’s largest bank, JPMorgan Chase, said its profit fell by 69% as it set aside $8.2 billion — the largest amount since 2010 — to …
With Millions Unemployed, Hotel Industry Lobbies to Spend Stimulus on Other Needs
Washington Post, April 14, 2020–Jonathan O’ConnellHotels were among the earliest businesses to feel the economic sting from coronavirus shutdowns and the first to ask Congress for aid, as top executives …
Georgia Governor Issues Order to Permit Remote Notarization
National Mortgage Professional, Apr. 13, 2020Georgia Gov. Brian Kemp issued an Executive Order permitting remote notarization and witnessing of all documents.https://nationalmortgageprofessional.com/news/74505/georgia-governor-issues-order-permit-remote-notarization
Coronavirus Pandemic Fuels Rapid Increase in Missed Mortgage Payments
Wall Street Journal, Apr. 13, 2020–Andrew Ackerman (subscription)About two million homeowners are skipping their monthly mortgage payments, according to industry data released on Monday, a number that is forecast to …
Mnuchin Offers Reassurances on Stability of Mortgage Market
Bloomberg, Apr. 13, 2020–Saleha Mohsin, Jennifer JacobsApril 13, 2020, 8:36 PM EDTTreasury Secretary Steven Mnuchin offered reassurances Monday on the stability of the U.S. mortgage market amid the coronavirus pandemic …
Nearly 4% Of All Mortgage Loans Now In Forbearance
Forbes, Apr. 13, 2020–Aly J. YaleLoans serviced by independent mortgage banks are seeing the highest share of loans in forbearance at 4.17%. According to Mike Fratantoni, senior vice president and …