New York Times, Oct. 15, 2020–Jason DeParleAfter an ambitious expansion of the safety net in the spring saved millions of people from poverty, the aid is now largely exhausted and …
Category: Top National News
Laguna Woods Co-op Ends Decade-Long Lender Monopoly
Orange County Register, Oct. 15, 2020–Jeff LazersonThe United Laguna Woods Mutual board loosened the rules for lenders, dropping a requirement that lenders have to be FDIC-insured (MBA mention)https://www.ocregister.com/2020/10/15/laguna-woods-co-op-ends-decade-long-lender-monopoly/
Morgan Stanley Powers Through Coronavirus Recession With Higher Profit, Revenue
Wall Street Journal, Oct. 15, 2020–Liz Hoffman (subscription)Morgan Stanley on Thursday said its quarterly profit rose 25% from a year ago, another big U.S. bank to skate unscathed through the …
Fannie, Freddie Take a Close Look at Mortgage Risks as Climate Events Multiply
Politico, Oct. 15, 2020–Zack ColmanNew research compiled by U.S. government-backed mortgage companies recently shows housing markets are beginning to respond to damages from climate change-fueled floods, storms and disasters.https://www.politico.com/news/2020/10/15/fannie-mae-freddie-mac-mortage-climate-risks-429641
Agility: A Key Attribute for Mortgage Lenders in a Volatile Market
MortgageOrb, Oct. 15, 2020–Alok BansalFor any mortgage lender operating in a volatile market, agility is a key attribute. This is especially true in the current scenario: demand for refinances, as …
Mortgage Credit for Some Americans Drying Up Amid Supply Deluge
Bloomberg, Oct. 15, 2020–Christopher MaloneyThe Mortgage Bankers Association’s index of housing credit availability dropped last month to the lowest since February 2014. The benchmark has slipped eight of nine months …
30-Year Mortgage Rate Drops to Record
Washington Post, Oct. 15, 2020–Michele LernerThe rate on the popular 30-year mortgage hit a record low, according to a Freddie Mac survey released Thursday, providing a bright spot in the …
Pandemic Highlights Cyclical Nature of Real Estate, Conference Attendees Hear
Pensions & Investments, Oct. 14, 2020–Arleen JacobiusThe COVID-19 pandemic is a reminder that real estate is not immune to cycles and that underwriting and risk management is “super important,” said …
Fed’s Quarles Casts Doubt on Permanent Capital Relief for Big Banks
American Banker, Oct. 14, 2020–Hannah Lang (subscription)Regulators in the spring temporarily eased a key benchmark of balance-sheet strength to allow institutions to help customers navigate the pandemic, but Federal Reserve …
Mnuchin Says Coronavirus Relief Deal Unlikely Before U.S. Election
Reuters, Oct. 14, 2020–Reuters StaffTreasury Secretary Steve Mnuchin on Wednesday said he and House of Representatives Speaker Nancy Pelosi were “far apart” on some details of another coronavirus relief package, …