New York Magazine, May 24, 2021–John SuricoFour New York hoteliers weigh in on how the pandemic affected their industry.https://www.curbed.com/2021/05/new-york-hoteliers-on-the-future-of-the-hotel-industry.html
Category: Top National News
Issuance of Bundles of Risky Loans Jumps to 16-Year High
Wall Street Journal, May 24, 2021–Sebastian Pellejero (subscription)The prospect of rising inflation and a shift away from the Federal Reserve’s easy money policies are making bonds tied to so-called CLOs …
Non-QM REIT Angel Oak Mortgage Files to Go Public
National Mortgage News, May 21, 2021–Brad Finkelstein (subscription)The size and pricing of the initial public offering were not listed in the filing, although a placeholder figure of $150 million was …
Biden Targets Housing Rules That Hurt Low-Income Earners. Will the Suburbs Buy In?
Los Angeles Times, May 21, 2021–Erin B. LoganThe enduring image of the American Dream is owning a tidy single-family house in the suburbs. But for many people of color and …
Most Homeowners Have Exited Mortgage Forbearance Programs–But Those Who are Left are the Most Vulnerable
CNBC, May 21, 2021–Megan LeonhardtOnly 35% of borrowers, or about 2.2 million homeowners, who signed up for forbearance remain in these programs, the New York Fed found. But those who …
Credit Demand From Americans Fell During the Pandemic–Except in One Major Way
MarketWatch, May 20, 2021–Jacob PassyThere was one type of loan that experienced a surge in demand throughout the pandemic: Mortgages. “The big outlier in these reported trends is a dramatic …
Mortgage Distress Likely to Climb After Forbearance Ends, Researchers Find
American Banker, May 19, 2021–Polo Rocha (subscription)Only 0.9% of mortgage borrowers are currently at least 90 days delinquent. That figure could rise as high as 3.8% once pandemic-related deferrals lapse …
Restaurant Closures Now at 14% Despite Apocalyptic Predictions
Bloomberg, May 18, 2021–Kate KraderNew data from the National Restaurant Association, a Washington-based industry group, found that 90,000 restaurants across the U.S. have closed permanently or long-term. That’s less than …
Senators Still Can’t Find Common Ground on Flood Insurance Reform
National Mortgage News, May 18, 2021-Hannah Lang (subscription)Mortgage lenders have much riding on a yearslong effort to overhaul a program that requires homeowners to hold policies in flood-prone areas. A …
Up to $20 Billion in Investor Home Loans Heading for Private Market
National Mortgage News, May 17, 2021–Bonnie Sinnock (subscription)With little transitional disruption, the bigger players on the non-agency side could gain a hefty share of non-owner-occupied mortgage volume as a result …