HousingWire, Mar. 26, 2020–Kathleen HowleyIn a rare television interview, Federal Reserve Chairman Jerome Powell told Today show co-anchor Savannah Guthrie the U.S. economy can’t reopen until the coronavirus pandemic is …
Category: Top National News
The $2 Trillion Stimulus Will Slam the Mortgage Industry–Unless the Fed Comes to the Rescue
CNN Business, Mar. 26, 2020–Matt EganThe problem is that mortgage servicers, even after granting homeowners forbearance, are still on the hook with investors to continue paying principal and interest on …
Mortgage Rates Head Back Down as Federal Reserve Becomes Major Buyer of Mortgage-Backed Securities
Washington Post, Mar. 26, 2020–Kathy OrtonMortgage rates have bounced around a lot lately, making it difficult to know where they are headed. Last week, they spiked to their highest levels …
Real Estate Attorneys are Dealing with Contract Cancelations
Mortgage Professional America, Mar. 26, 2020–Steve RandallAttorneys polled in a new national survey say that the negative effects of the coronavirus outbreak are being seen already at their law firms …
The Long Run of American Job Growth Has Ended
Wall Street Journal, Mar. 26, 2020–Eric Morath, Jon Hilsenrath (subscription)The great American job machine just ground to a halt. As a result of the coronavirus pandemic, more than 1 million …
Banks Agree With California To Stop Foreclosures For 90 Days In Coronavirus Crisis
NPR, March 25, 2020–Nathan Rott California has reached a deal with several financial institutions, including four of the country’s five largest banks, to provide relief to homeowners affected by the …
Senate Unanimously Passes $2T Coronavirus Stimulus Package
The Hill, Mar. 25, 2020–Jordain CarneyThe Senate unanimously passed an approximately $2.2 trillion stimulus package late Wednesday night in an effort to jumpstart an economy decimated by the coronavirus pandemic.https://thehill.com/homenews/senate/489590-senate-passes-2-trillion-coronavirus-stimulus-package?rnd=1585185318
Coronavirus Stimulus Package: What do Banks Need to Know?
American Banker, Mar. 25, 2020–Neil Haggerty (subscription)Details of the $2 trillion deal were still fluid Wednesday, but lawmakers were closing in on a plan that would aim to put banks …
Risky U.S. Mortgages Face Reckoning in Market Spooked by Crisis
Bloomberg, Mar. 25, 2020–Prashant GopalAs America heads into a deep recession, the $11 trillion residential mortgage market is in crisis.https://www.bloomberg.com/news/features/2020-03-25/risky-u-s-mortgages-face-reckoning-in-market-spooked-by-crisis?srnd=premium
Real Estate Companies Report Spike of Demand for Virtual Home Showings
HousingWire, Mar. 25, 2020Although many real estate companies have paused home showings, the desire for digital and 3D home showings have risen rapidly.https://www.housingwire.com/articles/real-estate-companies-report-spike-of-demand-for-virtual-home-showings/