National Mortgage News, Nov. 19, 2020–Paul Centopani (subscription)Use of mortgage technology was fast-tracked due to coronavirus lockdowns and kept the lending industry humming, laying the foundation for a greater share …
Category: Top National News
Macy’s CEO to States: Don’t Close Us Down Again
Wall Street Journal, Nov. 19, 2020–Suzanne Kapner (subscription)Macy’s Inc., still smarting from the pandemic’s damage to its business, is lobbying states and cities not to close its department stores during …
Mortgage Rates Fall to Record Low Amid Weak Jobs and Consumer Spending Data
Washington Post, Nov. 19, 2020–Michele LernerThe average rate on the popular 30-year fixed-rate mortgage for the 13th time this year fell to a record low amid mixed data showing weak …
Financial Watchdog Expected To Get Its Teeth Back Under Biden
All Things Considered (NPR), Nov. 19, 2020–Chris ArnoldThe Trump administration successfully backed a lawsuit claiming that the bureau was unconstitutional, in part because its director had too much power and …
Microsoft Pitches in an Additional $65 Million for Affordable Housing
Seattle Times, Nov. 19, 2020–Katherine Khashimova LongMicrosoft is boosting support for affordable housing. The company will make two loans totaling $65 million to Seattle housing groups to help create more …
Is GSE Reform Dead on Arrival Under Biden?
American Banker, Nov. 18, 2020–Hannah Lang (subscription)The Trump administration has moved forward on a plan to privatize Fannie Mae and Freddie Mac, but Joe Biden appointees could take steps to …
Forborne Mortgages Have Similar Traits to Those Likely to Default
National Mortgage News, Nov. 18, 2020–Brad Finkelstein (subscription)A Freddie Mac study of loans in forbearance from 2017 and 2020 found that, over both periods, borrowers had low credit scores and …
Banks May Be Office Landlords’ New Problem Tenants
Wall Street Journal, Nov. 19, 2020–Carol Ryan (subscription)Finance companies have slowed their takeup of new space more than other sectors since the pandemic began.https://www.wsj.com/articles/banks-may-be-office-landlords-new-problem-tenants-11605782386?mod=lead_feature_below_a_pos1
White House Chief of Staff ‘Can’t Guarantee’ U.S. Government Will Avert December Shutdown
Washington Post, Nov. 18, 2020–Jeff SteinCongress and the White House have until Dec. 11 to approve new spending legislation to prevent the federal government from shutting down in the middle …
Race to the Suburbs Sparks Boom in Rental-House Construction
Bloomberg, Nov. 18, 2020–Patrick ClarkThe Covid-19 pandemic has sent Americans searching for larger living spaces for the work-from-home era, accelerating demographic shifts to the suburbs and attracting new pools of …