Orange County Register, Oct. 1, 2020–Jeff LazersonBank of America told a Thousand Oaks broker it was closing her business checking account because of her occupation. Then, the account was reinstated …
Category: Top National News

Mortgage Lender Caliber Home Loans Prepares for an IPO
Wall Street Journal, Oct. 1, 2020–Peter Rudegeair, Cara Lombardo (subscription)Caliber Home Loans Inc. is preparing for an initial public offering that could value the company, one of the largest U.S. …

Hospitality, Retail Real Estate Show ‘Atrocious’ Value Loss in Appraisals
Philly Voice, Oct. 1, 2020–Greg EnglesbeMore than six months into the coronavirus pandemic, damage in the commercial real estate market is not pretty, according to recent appraisals of commercial mortgage-backed …

Housing and Land Use Implications of Split-Roll Property Tax Reform in California
Urban Institute, Oct. 1, 2020–Solomon Greene, Laurie Goodman, Sarah Strochak, Patrick SpausterAn initiative on the California state ballot this November would change the way local governments assess the value of …

New York, San Francisco Rents Plunge in Work-at-Home Shift
Bloomberg, Oct. 1, 2020–Prashant GopalApartment rents are plunging in high-cost cities from New York to San Francisco. Now, places that were less popular before the pandemic are suddenly in high …

Despite Hardships from Pandemic, 40% of Latinos Still Plan to Become Homeowners
HousingWire, Sept. 30, 2020–Alex RohaThe August survey from the National Association of Hispanic Real Estate Professionals found that 40% of Latinos who do not currently own a home have plans …

Freddie Mac Preparing to Launch New Type of Multifamily Mortgage Bond
National Mortgage News, Oct. 1, 2020–Bonnie Sinnock (subscription)The government-sponsored enterprise’s first multifamily sustainability bond transaction, totaling $600 million, is part of Freddie’s K-Deal program.https://www.nationalmortgagenews.com/news/freddie-mac-preparing-to-launch-new-type-of-multifamily-mortgage-bond

Consumer Spending Rose in August, but Incomes Pose Hurdle for U.S. Recovery
Wall Street Journal, Oct. 1, 2020–Josh Mitchell (subscription)A drop in household income and persistently high layoffs are threatening to further slow the U.S. economic recovery, which already appears to be …

Commercial Mortgage Debt Rises as Originations Fall
GlobeSt.com, Oct. 1, 2020–Kelsi Maree BorlandData from the Mortgage Banker’s Association reveals that the level of commercial debt increased to $3.76 trillion at the end of the second quarter, and …

1,600 Customers Say Wells Fargo Paused their Mortgage Payments Without their Consent
NBC News, Oct. 1, 2020–Gretchen MorgensonThe letters also indicate that the bank didn’t know how many customers had been affected by its practice of placing them in so-called forbearance programs, …