Bloomberg, Dec. 17, 2020–Oshrat CarmielThe pandemic’s slowdown in real estate deals has cost New York City $1.2 billion in lost revenue so far this year.https://finance.yahoo.com/news/york-plummeting-real-estate-sales-184606317.html
Category: Top National News
The Next Coronavirus Front: Evictions and Foreclosures
HousingWire, Dec. 17, 2020–Jonathan T. ReckfordThe author says various forms of housing payment assistance have been included in COVID relief proposals, including some rental assistance in a recent bipartisan proposal, …
CRE Mortgage Delinquencies Are on the Rise
Connected Real Estate Magazine, Dec. 17, 2020–Joe DytonA number of commercial real estate sectors have had trouble paying their mortgage during the COVID-19 pandemic, but none more than the hotel …
Ginnie Mae Provides More Leeway for Libor-Indexed Reverse Mortgages
National Mortgage News, Dec. 16, 2020–Bonnie Sinnock (subscription)The deadline for inclusion in Ginnie mortgage-backed securities has been extended and an exception will be made for some participations.https://www.nationalmortgagenews.com/news/ginnie-mae-provides-more-leeway-for-libor-indexed-reverse-mortgages
Nearly 8 Million Americans Have Fallen into Poverty Since the Summer
Washington Post, Dec. 16, 2020–Heather LongThe U.S. poverty rate has surged over the past five months, with 7.8 million Americans falling into poverty, the latest indication of how deeply many …
The Nail in the Coffin for Ending GSE Conservatorship Under Trump?
HousingWire, Dec. 15, 2020–Kelsey RamírezIn a letter Monday to U.S. Treasury Secretary Steven Mnuchin, the Mortgage Bankers Association and other housing industry associations expressed their opposition to a swift end …
FHFA G-Fee Report Shows Shift in Cash Sales
National Mortgage News, Dec. 15, 2020–Bonnie Sinnock (subscription)Last year, smaller lenders were put at a slight disadvantage in terms of what they were charged in guarantee fees when they sold …
Fannie, Freddie Privatization Decisions Likely to Be Left to Biden Administration
Wall Street Journal, Dec. 15, 2020–Andrew Ackerman (subscription)Joe Biden’s election victory has likely ended the Trump administration’s efforts to return Fannie Mae and Freddie Mac to private hands. Treasury Secretary …
More U.S. Homeowners Seek to Delay Mortgage Payments
Bloomberg, Dec. 14, 2020–Christopher MaloneyA growing percentage of U.S. homeowners are looking to delay making mortgage payments, the latest sign that the economic recovery is hitting a snag. In the …
Commercial Mortgage Delinquencies are Rising
GlobeSt.com, Dec. 14, 2020–Les ShaverIn November, 5.7% of commercial mortgages were delinquent, increasing from 5.4% in October, according to the Mortgage Bankers Association. The delinquencies can be traced back to …