While lenders are rightfully reluctant to take over a distressed project, they would still be wise to remain prepared in the event they are left with no other choice. Lenders should consider the following tips in order to remain ready to take over a failing project.
Tag: Coronavirus
Britt Faircloth: Fairness in the Face of Crisis–Fair and Responsible Banking in the Midst of Chaos
As a compliance officer, I have always recognized that change is constant, and I accept that fact sometimes grudgingly. While regulatory change generally has ample implementation or lead time, March 2020 has brought a different kind of change; one that is significant, sudden and jarring. These days you can’t just ask who moved your cheese—assuming you could find cheese in the grocery store, that is—you must quickly and effectively adapt to an entirely new normal.
Mark Dangelo: Are Bankers Necessary? Part 3
On April 14, JPMorgan CEO @JamieDimon indicated his operations were preparing for a “severe recession.” To state that the economic conditions we are living in are precarious and uncertain is almost meaningless. For most living today, we are in unchartered territory.
Purchase Applications Up, Overall Applications Down As Rates Hit Record Low in MBA Weekly Survey
Mortgage applications fell again last week despite an uptick in purchase applications and even as the 30-year fixed mortgage rate dropped to a record low, the Mortgage Bankers Association reported in its Weekly Mortgage Applications Survey for the week ending April 24.
Mortgage Applications Down Again in MBA Weekly Survey
Mortgage applications fell again last week despite an uptick in purchase applications and even as the 30-year fixed mortgage rate dropped to a record low, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending April 24.
April Consumer Confidence Takes Another Dive
The Conference Board, New York, said its Consumer Confidence Index deteriorated further in April, following a sharp decline in March. The Index now stands at 86.9, its lowest level since 2014, down from 118.8 in March and 130.7 in February.
Britt Faircloth: Fairness in the Face of Crisis–Fair and Responsible Banking in the Midst of Chaos
As a compliance officer, I have always recognized that change is constant, and I accept that fact sometimes grudgingly. While regulatory change generally has ample implementation or lead time, March 2020 has brought a different kind of change; one that is significant, sudden and jarring. These days you can’t just ask who moved your cheese—assuming you could find cheese in the grocery store, that is—you must quickly and effectively adapt to an entirely new normal.
Mark Dangelo: Are Bankers Necessary? Part 3
On April 14, JPMorgan CEO @JamieDimon indicated his operations were preparing for a “severe recession.” To state that the economic conditions we are living in are precarious and uncertain is almost meaningless. For most living today, we are in unchartered territory.
MBA: Share of Mortgage Loans in Forbearance Increases to Nearly 7%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey showed loans now in forbearance increased from 5.95% of servicers’ portfolio volume in the prior week to 6.99% as of April 19.
Zillow: Coronavirus-Related Layoffs Threaten Housing Security for Minorities
Latinx, Asian and black workers are disproportionately represented in the food, arts and service industries that have been affected by mass layoffs and furloughs, said Zillow, Seattle.