CNBC, Apr. 8, 2020–Diana OlickLoan servicers are being slammed by requests from homeowners to delay their monthly mortgage payments as the coronavirus forces millions of people out of work. Yet …
Category: Top National News
Bankers Hope Reg Relief Doesn’t End When Coronavirus Does
American Banker, Apr. 7, 2020–Neil Haggerty (subscription)Measures that delay the Current Expected Credit Losses standard and reduce a community bank capital ratio are temporary, but the industry now sees an …
U.S. Banks Blame Rules for Snarling New Borrowers’ Virus Loans
Bloomberg, Apr. 8, 2020–Robert Schmidt, Jesse HamiltonLenders say federal rules meant to catch terrorists and money launderers are at fault.https://www.bloomberg.com/news/articles/2020-04-08/banks-blame-u-s-rules-for-snarling-new-borrowers-virus-loans?srnd=premium
Mr. Cooper Places 86,000 Customers on Fobearance Plans
HousingWire, Apr. 7, 2020–Brena NathMr. Cooper released its initial numbers on how it’s serving its customers during the COVID-19 pandemic, announcing it has placed more than 86,000 customers on forbearance …
Cuomo’s Mortgage Relief Order Spurs Confusion, Disappointment for Homeowners
Politico, Apr. 8, 2020–Janaki ChadhaAs the coronavirus crisis was taking hold of New York last month, Gov. Andrew Cuomo made an announcement that prompted many homeowners around the state to …
Senate Aims to Approve Additional Small-Business Aid on Thursday
The Hill, Apr. 7, 2020–Jordain CarneySenate leadership is moving quickly to approve additional aid for small businesses, which have been hard-hit by the coronavirus outbreak, after a rocky rollout last …
Calabria: No Servicer Liquidity Facility Coming, But GSEs May Pull Servicing from Struggling Companies
HousingWire, Apr. 7, 2020–Ben LaneDespite growing calls from the housing industry for a federally backed liquidity facility for servicers to address the increase in forbearance due to the coronavirus, Federal …
Brown, Warren Call on CFPB to Protect Consumers, Not Financial Firms
National Mortgage News, Apr. 7, 2020–Kate Berry (subscription)Sens. Sherrod Brown, D-Ohio, Sen. Elizabeth Warren, D-Mass., and three other members of the Senate Banking Committee urged the director of the Consumer …
Homeown-her-ship
National Mortgage Professional, Apr. 7, 2020–Kelley RossFor a long time in this country, single women were a demographic plagued by those doubts—and for good reason. Traditional social structures and gender …
Sharks Circle as Mortgage Lenders Shed Portfolios at Steep Discounts
The Real Deal (N.Y.), Apr. 7Opportunistic funds including Elliot Management and Appaloosa Management are reportedly in talks to buy discounted assets from troubled real estate investment trusts, according to Bloomberg. …