Wall Street Journal, Apr. 1, 2020–Alexander Gladstone, Erich Schwartzel (subscription)Lenders for AMC Entertainment Holdings Inc. have hired restructuring lawyers, according to people familiar with the matter, after the world’s largest …
Category: Top National News
Mortgage Applications to Buy a Home Plummet 24% Annually as Coronavirus Slams Spring Housing
CNBC, Apr. 1, 2020–Diana OlickThe coronavirus appears to be splitting the mortgage market: More borrowers are refinancing to save money on monthly payments, while potential homebuyers are backing away fast.https://www.cnbc.com/2020/04/01/coronavirus-mortgage-applications-to-buy-a-home-plummet-24percent-annually.html
Will Coronavirus Decimate the Spring Home Buying Season?
MortgageOrb, Apr. 1, 2020–Michael BatesNo doubt, it will have a major impact – but some economists are forecasting that the usual surge of home buying activity will merely be delayed …
U.S. Manufacturing Contracts; Private Payrolls Post First Drop Since 2017
Reuters, Apr. 1, 2020–Lucia MutikaniU.S. manufacturing activity contracted less than expected in March, but disruptions caused by the coronavirus pandemic pushed new orders received by factories to an 11-year low, …
Fed’s Rosengren Says Americans’ Confidence in Coronavirus Measures Will Determine Economic Damage
Wall Street Journal, Apr. 1, 2020–Michael S. Derby (subscription)Boston Fed President Eric Rosengren said the central bank had been working aggressively to limit financial damage from the coronavirus shock, but …
Coronavirus Effect Could be ‘Far Deeper than the Subprime Crisis,” Says Mortgage Company CEO
CNBC, Apr. 1, 2020–Diana Olick“If unemployment gets as deep as some people are predicting, if it gets to the mid-teens, then it could be far deeper than the subprime crisis,” …
Remote Closings, Financial Contingency Aid Among Unmet Consumer Needs
National Mortgage News, Apr. 1, 2020–Bonnie Sinnock (subscription)Much has changed since this year’s Top Producers survey first got underway. While consumer needs related to technology and financial challenges remain just …
These Mortgage Borrowers Will be the ‘First Canary in the Coal Mine’ for a Coronavirus-Fuel Crisis…
MarketWatch, Apr. 1, 2020–Jacob PassyDuring an interview with CNBC Wednesday, Federal Housing Finance Agency Director Mark Calabria warned that the U.S. mortgage industry could face significant strain in the form …
Mortgage Relief Is Only for Those Who’ve Lost Jobs, Mnuchin Says
Bloomberg, Apr. 1 2020–Elizabeth DexheimerTreasury Secretary Steven Mnuchin said only homeowners who have lost their jobs because of the coronavirus crisis will qualify for new government programs that let borrowers …
It’s April 1–Here’s What You Need to Know About Paying Your Rent or Mortgage
Washington Post, April 1, 2020–Renae MerleMortgage servicers, which collect homeowners’ monthly loan payments, say they have already begun to see an uptick in borrowers seeking help and could quickly become …