MarketWatch, Apr. 11, 2020–Jacob PassyThe federal government’s rush to support homeowners in the wake of the coronavirus pandemic should help many Americans avoid foreclosure, but it could have negative consequences …
Category: Top National News
Coronavirus Mortgage Relief Poses Risk to Housing Industry
The Hill, Apr. 12, 2020–Sylvan LaneA sixth-month pause on certain mortgage payments mandated by the coronavirus economic rescue bill is causing confusion and risking financial peril across the housing industry. …
Tightening Credit Standards Challenge CRE Industry
Bisnow, Apr. 12, 2020–Jonathan Berr“Many banks are concentrating on their existing book of business and client relationships,” CBRE Global President of Debt & Structured Finance Brian Stoffers said in an …
U.S. May Face 18 Months of Rolling Shutdowns, Fed’s Kashkari Says
Bloomberg, Apr. 12, 2020–Matthew BoeslerWithout an effective therapy or a vaccine for the novel coronavirus, the U.S. economy could face 18 months of rolling shutdowns as the outbreak recedes and …
It May Be Harder to Get a Mortgage After Coronavirus Crisis Ends, Calabria Says
HousingWire, Apr. 10, 2020–Ben Lane“Anybody’s housing price forecast right now should be taken with a grain of salt. And that’s no slight on forecasters,” said Federal Housing Finance Agency Director …
Lenders Get Stricter as Some Borrowers Think they Don’t Have to Pay
HousingWire, Apr. 10, 2020–Kathleen HowleyStandards for home loans are tightening by the hour as companies like United Wholesale Mortgage, the nation’s largest wholesale lender, beef up rules to ward off …
JPMorgan Chase to Raise Mortgage Borrowing Standards as Economic Outlook Data Darkens
Reuters, Apr. 11, 2020–Elizabeth Dilts MarshallJPMorgan Chase & Co., the country’s largest lender by assets, is raising borrowing standards this week for most new home loans as the bank moves …
Mortgage Loans Get Harder To Come By As Lenders Tighten Standards
Forbes, Apr. 12, 2020–Aly J. YaleAccording to Joel Kan, the associate vice president of economic and industry forecasting at the Mortgage Bankers Association, the drops are due to the stricter …
Mnuchin, Congress Leaders to Hold Talks on Next Coronavirus Aid Bill
Reuters, Apr. 10, 2020–Richard CowanTreasury Secretary Steven Mnuchin and congressional leaders will hold bipartisan negotiations on a new coronavirus-response bill with the goal of reaching a deal by early next …
Mester Says Fed ‘Likely Not Done’ in Steps to Aid Economy
Bloomberg, Apr. 10, 2020–Alister BullFederal Reserve Bank of Cleveland President Loretta Mester said the central bank has probably not reached the end of its emergency actions to shelter the economy …