Bloomberg, Mar. 9, 2020–Peter CoyThe coronavirus could be the fatal blow to the longest economic expansion in history.https://www.bloomberg.com/news/articles/2020-03-06/the-u-s-may-already-be-in-a-recession-thanks-to-coronavirus?srnd=premium
Category: Top National News
Coronavirus May Stall U.S. Economy, Goldman Sachs Says
HousingWire, Mar. 9, 2020–Kathleen HowleyGDP growth will slow to 0.7% in the current quarter, the worst pace since the financial crisis, and grind to a halt in the second quarter, …
Regulators Pledge Assistance to Banks Affected by Coronavirus
National Mortgage News, Mar. 9, 2020–Hannah Lang (subscription)https://www.nationalmortgagenews.com/news/regulators-pledge-assistance-to-banks-affected-by-coronavirus
Ellie Mae Cancels Experience 2020 over Coronavirus Concerns
HousingWire, Mar. 9, 2020–Julia FalconThe conference, which was scheduled for March 23-25 in San Diego, was canceled “due to growing uncertainties as a result of the coronavirus (COVID-19),” according to …
Democrats Urge Regulators to Offer Lenders More Coronavirus Guidance
American Banker, Mar. 9, 2020–Neil Haggerty (subscription)Sen. Mark Warner, D-Va., led a group of Democratic senators in calling on bank, credit union and GSE regulators to give detailed instructions on …
Wider Spreads Can Help Originators Offset Negative MSR Marks
National Mortage News, Mar. 9, 2020–Brad Finkelstein (subscription)Mortgage lenders could benefit from the surge in refinancing due to widening market spreads, and that could help offset damage to servicing rights …
Bill Introduced by Rep. Luetkemeyer to Remove Sole Director of CFPB
National Mortgage Professional, Mar. 9, 2020Rep. Blaine Luetkemeyer, R-Mo., Ranking Member of the House Financial Services Subcommittee on Consumer Protection and Financial Institutions, introduced a bill to replace the position …
Fed Turns to Crisis-Era Playbook to Combat Market Disruptions
Wall Street Journal, Mar. 9, 2020–Nick Timiraos (subscription)A global market rout is forcing the Federal Reserve to revisit its 2008 crisis playbook in an attempt to ease strains on the …
Sinking Mortgage Rates Prompt Lenders to Add Resources, Inflate Advertised Rates
Bankrate.com, Mar. 9, 2020–Natalie CampisiThe coronavirus outbreak has touched off a mortgage-rate downslide, sending rates into the 3s and 2s, which triggered a deluge of eager borrowers to refinance or …
Record Low Mortgage Rates Give Millennial Homeowners Much-Needed Breathing Room
Money.com, Mar. 9, 2020–Daniel Bortz Last week mortgage rates hit record-low 3.29%, according to Freddie Mac data. That’s been good news for homeowners, but especially for millennials who’ve strained their …