The Labor Department on Thursday said unemployment claims skyrocketed to 3.3 million—the first real indicator of just how potentially devastating the economic effects of the coronavirus can be at the personal and national levels.
Tag: Coronavirus
Two Months Without Pay Pushes Many Workers to Spend 40% of Income on Rent
Zillow, Seattle, said renters working in food service and retail could spend 40 percent of their annual income on housing if they cannot work for two months–a nearly 6 percentage point increase from their current rent burden.
MBA, Trade Groups Outline Challenges Facing Borrowers Amid COVID-19
The Mortgage Bankers Association and a half-dozen industry trade groups this week sent a letter to the White House and other government agencies discussing concerns and challenges facing homeowners in paying their mortgage due to the COVID-19 crisis.
Matt Hansen: New-Era ‘What-if’ Scenarios
The pandemic is evolving rapidly, requiring businesses to respond quickly. By this point, most lenders have confirmed employee well-being and transitioned workers to remote environments where possible. For their next move, lenders need to start playing an aggressive game of “what if.”
MBA, Trade Groups Outline Challenges Facing Borrowers Amid COVID-19
The Mortgage Bankers Association and a half-dozen industry trade groups this week sent a letter to the White House and other government agencies discussing concerns and challenges facing homeowners in paying their mortgage due to the COVID-19 crisis.
New York Fed Posts TALF Term Sheet
The Federal Reserve Bank of New York yesterday posted a term sheet indicating servicing advances are eligible collateral for borrowing from the Term Asset-Backed Securities Loan facility, also known as TALF.
Coronavirus Slows Housing Market Despite Low Mortgage Rates
Mortgage rates fell to record lows just as Spring home shopping season began, but early signs point to a slowing market due to COVID-19 uncertainty, said Zillow, Seattle.
Mortgage Applications Tumble in MBA Weekly Survey
Mortgage applications took a tumble this week as key interest rates jumped to their highest level since January amid increased economic turmoil, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending March 20.
Matt Hansen: New-Era ‘What-if’ Scenarios
The pandemic is evolving rapidly, requiring businesses to respond quickly. By this point, most lenders have confirmed employee well-being and transitioned workers to remote environments where possible. For their next move, lenders need to start playing an aggressive game of “what if.”
Mortgage Applications Tumble in MBA Weekly Survey
Mortgage applications took a tumble this week as key interest rates jumped to their highest level since January amid increased economic turmoil, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending March 20.