HousingWire, Mar. 13, 2020–Julia FalconThe housing industry has had a hectic week, as conferences across the housing community have been canceled due to coronavirus spread. (MBA mention)https://www.housingwire.com/articles/housing-headlines-conferences-cancellations-continue-due-to-coronavirus-spread/
Category: Top National News
Trump Says He Could Demote Fed Chair Powell, Risking More Market Turmoil
New York Times, Mar. 14, 2020–Jeanna SmialekPresident Trump said on Saturday that he had the power to remove or demote Jerome H. Powell, the Federal Reserve chair, renewing a long-running …
With Mortgage Rates at Record Lows, Banks and Brokers Scramble to Deal with Refinancing Rush
NBC News, Mar. 13, 2020–Leticia Miranda“Since last summer the refinance volume has been strong,” said Mike Fratantoni, chief economist with the Mortgage Bankers Association. “It was more of a low …
Quicken Loans Moves Nearly All Employees to Remote Work as Coronvirus Spreads
HousingWire, Mar. 13, 2020–Ben LaneQuicken Loans President and Chief Operating Officer Bob Walters said 90% of the company’s 18,000 employees have shifted to working from home, including himself.https://www.housingwire.com/articles/quicken-loans-moves-nearly-all-employees-to-remote-work-as-coronavirus-spreads/?utm_campaign=Newsletter%20-%20HousingWire%20Daily&utm_source=hs_email&utm_medium=email&utm_content=84723266&_hsenc=p2ANqtz–alSA5EbA4vQ7YskKmh8Op-5F4bJen0AwU6csk_pz0XU-4A1hoGidOADvv1hUV8QEDK7Os3KMpV3oQbHO-R5gR4i7Q2w&_hsmi=84723266
Bank M&A Was Already Slowing Down. Then the Pandemic Hit
American Banker, Mar. 13, 2020–Ken McCarthy (subscription)Coronavirus concerns, along with the Fed’s emergency rate cut and an erratic stock market, have forced most bankers to take pause and reassess potential …
Mnuchin Says U.S. Businesses Will Have Access to Liquidity
Wall Street Journal, Mar. 13, 2020–Kate Davidson (subscription)Treasury Secretary Steven Mnuchin said U.S. officials are committed to ensuring that financial firms and businesses facing disruptions related to the coronavirus have …
Mortgage Relief Options Are Available To Homeowners Affected By Coronavirus Safety Measures
Forbes, Mar. 13, 2020–Brenda RichardsonHomeowners who are facing a temporary hardship due to the coronavirus and heightened safety measures such as businesses shutting down have options to postpone mortgage payments, …
The Refi Boom Is Rattling Mortgage-Bond Investors
Wall Street Journal, Mar. 13, 2020–Ben Eisen (subscription)Investors have been dumping mortgage bonds at a rapid clip, as interest rates plunge on concerns about the coronavirus pandemic and spur a …
Homeowners Blitz Banking Industry with Refinancings After Coronavirus Trims Rates
Milwaukee Business Journal, Mar. 13, 2020–Sean RyanThe Federal Reserve’s March 3 decision to drop a key interest rate in response to the coronavirus spurred homeowners to swamp local lenders with …
Stopping the Demolition Derby
UExpress, Mar. 13, 2020–Lew SichelmanMuch is written about housing starts, which add to the nation’s housing stock. But rarely do we hear about the houses that leave the rolls, never …