American Banker, Mar. 31, 2020–Hannah Lang (subscription)After budget cuts and a strategic transition, the interagency body conceived by Dodd-Frank to identify systemic threats has largely been silent as the pandemic …
Category: Top National News
Economists Are Losing Hope in a ‘V-Shaped’ Post-Virus Recovery
Bloomberg, Apr. 1, 2020–Ben HollandThe coronavirus is guaranteed to throw the world into recession, but economists are becoming less convinced about the potential for a strong snapback in growth.https://www.bloomberg.com/news/articles/2020-03-31/a-quick-rebound-from-virus-economists-have-reason-to-doubt-it
Mall Giant Simon Property Is Furloughing Workers
Wall Street Journal, Mar. 31, 2020–Esther Fung (subscription)The largest mall owner in the U.S., which has around 200 malls, open-air centers and shopping outlets, has closed all its U.S. properties …
In the Coronavirus Economy, the Only Safe Mortgage Is a Government-Backed One
Wall Street Journal, Apr. 1, 2020–Ben Eisen (subscription)The Federal Reserve rescued the mortgage market. Part of it. The central bank’s decision to buy a nearly unlimited supply of government-backed mortgages …
Banks Say Fed Rescue Threatens Mortgage Hedging Strategies
Financial Times, Mar. 31, 2020–Laura Noonan, Robert ArmstrongMichael Fratantoni, chief economist of the Mortgage Bankers Association, said regulators should issue guidance to relieve the margin-call pressure because “these are operating …
Infrastructure Bill Gains Steam as Coronavirus Worsens
The Hill, March 31, 2020–Mike Lillis, Scott WongThe coronavirus and its devastating effect on the economy is giving an old idea new traction with leaders in both parties: trillions of …
Fed Delays Effective Date of Bank Control Rule Due to Coronavirus
American Banker, Mar. 31, 2020–Hannah Lang (subscription)The Federal Reserve is postponing the effective date of a rule dealing with regulatory requirements for investors who own less than a quarter of …
U.S. Unemployment Offices Siting on Mountain of Pending Claims
Reuters, Mar. 31, 2020–Lucia Mutikani, Heather TimmonsLast week’s record-setting U.S. jobless claims number will be quickly surpassed, economists and state officials predict, as local labor offices digest a pile of …
How AI Pushes Loan Officers Forward
National Mortgage News, Mar. 31, 2020–Paul Centopani (subscription)High producing loan officers across the country know artificial intelligence is the next evolution in mortgages, one that offers multiple potential benefits. But …
Real-Estate Lending Funds Feeling Squeezed by Banks and Developers
Wall Street Journal, Mar. 31, 2020–Konrad Putzier (subscription)The shares of some commercial mortgage real-estate investment trusts trade at prices that indicate investors are concerned about their financial health, despite a …