Wall Street Journal, Nov. 19, 2020–Nick Timiraos, Kate Davidson (subscription)Treasury Secretary Steven Mnuchin declined to extend several pandemic emergency-loan programs established jointly with the Federal Reserve that are set to …
Category: Top National News
Macy’s CEO to States: Don’t Close Us Down Again
Wall Street Journal, Nov. 19, 2020–Suzanne Kapner (subscription)Macy’s Inc., still smarting from the pandemic’s damage to its business, is lobbying states and cities not to close its department stores during …
Financial Watchdog Expected To Get Its Teeth Back Under Biden
All Things Considered (NPR), Nov. 19, 2020–Chris ArnoldThe Trump administration successfully backed a lawsuit claiming that the bureau was unconstitutional, in part because its director had too much power and …
Banks May Be Office Landlords’ New Problem Tenants
Wall Street Journal, Nov. 19, 2020–Carol Ryan (subscription)Finance companies have slowed their takeup of new space more than other sectors since the pandemic began.https://www.wsj.com/articles/banks-may-be-office-landlords-new-problem-tenants-11605782386?mod=lead_feature_below_a_pos1
Is GSE Reform Dead on Arrival Under Biden?
American Banker, Nov. 18, 2020–Hannah Lang (subscription)The Trump administration has moved forward on a plan to privatize Fannie Mae and Freddie Mac, but Joe Biden appointees could take steps to …
Forborne Mortgages Have Similar Traits to Those Likely to Default
National Mortgage News, Nov. 18, 2020–Brad Finkelstein (subscription)A Freddie Mac study of loans in forbearance from 2017 and 2020 found that, over both periods, borrowers had low credit scores and …
How a Vaccine Could Upend Real Estate Markets — Again
CNN, Nov. 18, 2020–Anna BahneyIn just a matter of months the coronavirus pandemic dramatically changed the landscape of the housing market, especially in big cities. But now news of a …
Demystifying the Secondary Mortgage Market
Bankrate.com, Nov. 18, 2020–James RoyalThe secondary mortgage market is a massive marketplace of banks, investors and financial institutions that trades mortgages, servicing rights and mortgage-backed securities. While many homebuyers aren’t …
Subprime Mortgages Are Less Risky Than They Used to Be. But Avoid Them If You Can
NextAdvisor, Nov. 17, 2020–Samantha RosenSubprime mortgages, now more commonly known as nonprime, have a controversial history. While they’re certainly more regulated today than they were before the financial crisis they …
Americans’ Mortgage Debt Soars to a Record $10 Trillion
CNN Business, Nov. 17, 2020–Anneken TappeLow interest rates have helped fuel a boom in the US housing market: Last quarter Americans’ mortgage debt climbed to a record high of nearly …