Bloomberg, Apr. 3, 2020–Joe LightNonbank financial firms spent years lobbying against tougher regulation and stricter capital requirements, arguing that their emerging dominance in mortgage lending didn’t pose a risk to …
Category: Top National News
Homeowners Hurt by COVID-19 Can Delay Mortgage Payments, But Some Say They’re Anxious and Confused about the Real Cost
USA Today, Apr. 6, 2020–Jessica MentonAmericans struggling to pay their mortgages because they’ve lost a job or income during the coronavirus pandemic can put off that bill for up to …
Coronavirus Could Trigger Mortgage Market Crash as First FDIC-Insured Bank Falls
CCN, Apr. 5, 2020–Joseph YoungWest Virginia’s First State Bank became the first bank to fall after the coronavirus pandemic rapidly swept across the United States. The potential closure of more …
Broad Coalition of Mortgage Industry and Housing Associations Call for Liquidity Facility for Servicers
HousingWire, Apr. 5, 2020–Sarah WheelerFifteen financial industry trade associations and affordable housing advocate groups issued a joint statement on Saturday calling on the Federal Housing Finance Agency, the Federal Reserve …
Number of Homes Taken Off Market Doubles Due to Coronavirus
HousingWire, Apr. 3, 2020–Julia FalconIn the midst of record-high unemployment claims and economic uncertainty, supply is declining now more than ever, according to a report from Redfin, as homeowners are …
Certain Mortgage Jobs are Bearing Up as Coronavirus Spreads
National Mortgage News, Apr. 3, 2020–Bonnie Sinnock (subscription)Nonbank mortgage employment estimates show payrolls in February leveled off after an unusually strong winter, but anecdotal reports of selective hiring persisted through …
Jumbo Mortgage Market Disappearing as Lenders Shun Risk
Bankrate.com, Apr. 3, 2020–Ellen ChangThe jumbo loan market is shrinking as some mortgage lenders are facing a liquidity crunch. It’s the perfect storm for lenders as millions of homeowners are …
Thanks To COVID-19, FHA Mortgage Lending Gets Stricter
Forbes, Apr. 3, 2020–Aly J. YaleThe COVID-19 pandemic has forced lenders’ hands when it comes to FICO score minimums. As more and more Americans lose their jobs or see reduced …
Struggling Borrowers Want To Pause Their Mortgage Payments. It Hasn’t Been Easy
Wall Street Journal, Apr. 3, 2020–Orla McCaffrey, Andrew Ackerman (subscription)Struggling homeowners are flooding their mortgage companies with requests for help as the coronavirus pandemic wrecks the economy. Many are having …
Kushner Company Stands to Benefit from Freeze on Federal Mortgage Payments
Politico, Apr. 3, 2020–Maggie StevensWith more than $800 million in federally backed properties, Kushner Companies could reduce its payments to zero under provisions of the recovery bill.https://www.politico.com/news/2020/04/03/jared-kushner-company-benefit-recovery-bill-162652