Urban Institute, Oct. 5, 2020–Michael Neal, Laurie GoodmanThe authors discuss their attempt to better understand the 400,000 mortgage borrowers who are not taking advantage of the forbearance option offered by …
Category: Top National News
Powell Warns of Severe, Ongoing Risks to the Economy as Second Round of Stimulus Remains Elusive
Washington Post, Oct. 6, 2020–Rachel SiegelFederal Reserve Chair Jerome Powell warned on Tuesday of ongoing risks to the economy and the consequences of insufficient support from policymakers, offering a sharp …
Banks Urge Fed to Revise Liquidity Rule after Pandemic Shock
American Banker, Oct. 5, 2020–Hannah Lang (subscription)The industry is warning regulators putting the finishing touches on the Net Stable Funding Ratio that the measure could exacerbate volatile market events like …
Owners of Westin Cleveland Downtown, Already Mired in FBI Probe, Face Mortgage Foreclosure Lawsuit
Cleveland.com, Oct. 5, 2020–Eric HeisigOptima 777 owes $35 million in the unpaid principal of a mortgage for the 484-room St. Clair Avenue hotel, as well as nearly $500,000 in interest …
Mezzanine Numbers Jump, But …
Mezzanine Numbers Jump, But …Pensions & Investments magazine, Oct. 5, 2020–Arleen JacobiusWhen it comes to originating real estate debt in the COVID-19 crisis, it’s not like the last crisis, real …
U.S. Commercial Bankruptcies Up 33% Year to Date
Reuters, Oct. 5, 2020–Dan BurnsU.S. commercial bankruptcy filings are up 33% so far this year with new cases in September surging by 78% from a year earlier as the recession …
Las Vegas Tops U.S. in Rise of Apartment Tenants Not Paying Rent
Bloomberg, Oct. 5, 2020–Prashant GopalWith Covid 19 tanking tourism, Las Vegas saw the biggest jump in apartment tenants who have stopped paying rent. In September, 10.6% of Vegas tenants missed …
Homeowners Are Exiting Forbearance, But Not in the Ways You’d Expect
MortgageOrb, Oct. 5, 2020–Matt TullyThe article addresses three reasons homeowners have been exiting forbearance and tie this activity back to extensions, and what may be driving these exit behaviors and …
Mortgage Boom Raises Fears Lenders Will Turn Lax
National Mortgage News, Oct. 5, 2020–Jim Dobbs (subscription)Low rates and intense competition might lead some banks to ease underwriting standards in 2021, when the economy may not yet have recovered.https://www.nationalmortgagenews.com/news/mortgage-boom-raises-fears-lenders-will-turn-lax
Non-QM Mortgages For Business Owners Are On The Rebound
National Mortgage Professional, Oct. 5, 2020–Navi PersaudThe COVID-19 pandemic brought the non-qualified mortgage lending space to a screeching halt but the rebound has been underway in recent months, showing signs …