Houston Chronicle, Sept. 24, 2020–R.A. SchuetzMore than 1 million homeowners are at least 30 days behind on their mortgage payments despite aid from the CARES Act, a sign that the …
Category: Top National News
CRE Concerns Intensify as Stimulus Programs Expire
American Banker, Sept. 23, 2020–Jim Dobbs (subscription)Commercial real estate loans are vulnerable as financial assistance for tenants winds down and might not be fully renewed. Late rent payments could rise, …
Sterling in N.Y. Sheds Non-Performing Loans
National Mortgage News, Sept. 22, 2020–Jim Dobbs (subscription)The company also found a buyer for its portfolio of equipment finance loans as it tries to clean up credit and refocus on …
Refinancing Your Mortgage Is About to Get More Expensive
Wall Street Journal, Sept. 23, 2020–Katy McLaughlin (subscription)The Fannie Mae/Freddie Mac adverse market refinance fee will account for roughly a 1/8th of a percentage point rate increase on 30-year-fixed refinances, …
4 FHA Priorities from New Commissioner Dana Wade
National Mortgage News, Sept. 22, 2020–Bonnie Sinnock (subscription)Federal Housing Administration Commissioner Dana Wade has three main priorities, which she shared with women working in the mortgage industry Tuesday: ensuring the …
Banks Criticized for Requiring Balloon Payments on Loans in Forbearance
National Mortgage News, Sept. 22, 2020–Kevin WackBig banks that have been offering mortgage relief to homeowners during the pandemic are facing fresh criticism over the rules they are enforcing when …
Grand Chicago Hotel in Foreclosure, a Symbol of Covid-19’s Toll on Hospitality Industry
Wall Street Journal, Sept. 22, 2020–Peter Grant (subscription)Thor Equities, owner of the Palmer House Hilton, is in default on its $333.2 million first mortgage, court papers say.https://www.wsj.com/articles/grand-chicago-hotel-in-foreclosure-making-it-one-of-covid-19s-biggest-victims-11600767000?mod=hp_lead_pos11
The Survival Of Wholesale And Correspondent Lending
National Mortgage Professional Magazine, Sept. 22, 2020One thing about the wholesale and correspondent business, it always finds a way to not only survive, but thrive in the face of adversity …
The Number of Americans Skipping Mortgage Payments Drops to Lowest Level Since April…
MarketWatch, Sept. 22, 2020–Jacob PassyFewer Americans are in forbearance on their mortgages now than in any point in the last five months. But that doesn’t mean borrowers — and the …
As Housing Rebounds, Non-QM Mortgages for Business Owners Make a Comeback
Bankrate.com, Sept. 22, 2020–Jeff OstrowskiDuring the early days of the coronavirus recession, the market for non-qualified mortgages ground to a halt. In recent months, however, non-QM loans have returned as …