Bloomberg, Feb. 19, 2021–Rich MillerThe Federal Reserve warned of significant risks of business bankruptcies and steep drops in commercial real estate prices in a report published on Friday.https://www.bloomberg.com/news/articles/2021-02-19/fed-sounds-alarm-on-commercial-real-estate-business-bankruptcy
Category: Top National News
Fannie, Freddie Reap Billions from ‘Adverse Market’ Fee
Orange County Register, Feb. 18, 2021–Jeff LazersonFannie Mae and Freddie MAc funded about 1.2 million adverse market qualified refinance mortgages totaling $350 billion from Dec. 1 through Jan. 31, according …
Marriott Posts First Annual Loss Since 2009
Wall Street Journal, Feb. 18, 2021–Dave Sebastian (subscription)Marriott International Inc. ended 2020 with a loss of $267 million—its first annual loss since 2009, and second largest on record—as the company …
Unintended Consequence of Dodd-Frank Has Left a $1 Trillion Gap in the US Housing Market
Mortgage Professional America, Feb. 18, 2021–David KitaiA fundamental premise of today’s housing and mortgage markets is that there is not nearly enough supply for the demand that’s out there. While …
Bay Area Exodus Leading Edge of Pandemic Housing Reshuffle
Reuters, Feb. 17, 2021–Howard SchneiderData from high-tech sources like cellphone location trackers to old-school change-of-address forms have started to put some scale around the reversal of fortune the City by …
Americans’ Mortgage Debt Increased to $10T in Q4
HousingWire, Feb. 17, 2020–James KleimannOverall household debt increased by $206 billion in the fourth quarter of 2020 to $14.56 trillion, according to the Federal Reserve Bank of New York. The …
President Biden’s Foreclosure Extension Met with Mixed Reactions
National Mortgage Professional, Feb. 17, 2021–Navi PersaudMortgage Bankers Association’s president and CEO Bob Broeksmit issued a comment championing President Biden’s mortgage relief extension.https://nationalmortgageprofessional.com/news/76400/president-bidens-foreclosure-extension-mixed-reactions
Mortgage President Sees ‘Winter of Death’ When Refi Boom Ends
Mortgage Professional America, Feb. 16, 2021–David Kitai“Many of these companies have refinanced the same borrower four and five times over the last 18 to 24 months,” said CIVIC President Bill …
Rising U.S. Yields Could Spur Mortgage-Related Selling of Treasuries
Reuters, Feb. 16, 2021–Gertrude Chavez-DreyfusA rise in the yield of U.S. benchmark government debt has pushed it near thresholds that could fuel a wave of Treasury selling by mortgage investors, …
President Biden to Extend Mortgage Relief, Ban on Home Foreclosures through June
USA Today, Feb. 16, 2021–Joey GarrisonThe foreclosure moratorium was set to expire March 31 and instead will be in place through June 30. It’s the second time Biden has extended …