Bloomberg, Oct. 2, 2020–Benjamin StupplesLenders are increasingly providing credit to their most valuable clients after central banks slashed interest rates to protect the economy from the effects of the COVID-19 …
Category: Top National News
Americans Might Never Come Back to the Office, and Twitter is Leading the Charge
Washington Post, Oct. 1, 2020–Elizabeth DwoskinCorporate America has long been defined by physical offices. But in a few short weeks, the pandemic upended that as thousands of companies mandated their …
Flood Insurance Program Reauthorized by Trump After Short Lapse
HousingWire, Oct. 1, 2020–Kathleen HowleyTechnically, the National Flood Insurance Program lapsed at midnight on Wednesday, along with the entire federal budget. It didn’t become law until Trump signed it shortly …
Commercial Mortgage Debt Rises as Originations Fall
GlobeSt.com, Oct. 1, 2020–Kelsi Maree BorlandData from the Mortgage Banker’s Association reveals that the level of commercial debt increased to $3.76 trillion at the end of the second quarter, and …
Freddie Mac Preparing to Launch New Type of Multifamily Mortgage Bond
National Mortgage News, Oct. 1, 2020–Bonnie Sinnock (subscription)The government-sponsored enterprise’s first multifamily sustainability bond transaction, totaling $600 million, is part of Freddie’s K-Deal program.https://www.nationalmortgagenews.com/news/freddie-mac-preparing-to-launch-new-type-of-multifamily-mortgage-bond
1,600 Customers Say Wells Fargo Paused their Mortgage Payments Without their Consent
NBC News, Oct. 1, 2020–Gretchen MorgensonThe letters also indicate that the bank didn’t know how many customers had been affected by its practice of placing them in so-called forbearance programs, …
Commercial Mortgage Debt Rises as Originations Fall
GlobeSt.com, Oct. 1, 2020–Kelsi Maree BorlandData from the Mortgage Banker’s Association reveals that the level of commercial debt increased to $3.76 trillion at the end of the second quarter, and …
These Cities Are Most at Risk of Being in a Housing Bubble
Barrons (Wall Street Journal), Oct. 1, 2020–Shaina MishkinHome prices have been by and large resilient in the face of a historic pandemic—but some markets remain at risk of a housing …
Fitch: Mortgage Delinquencies Won’t Affect Property Tax Payments
Fitch Ratings, New York, does not expect fiscal 2021 property tax collections to be meaningfully affected by mortgage forbearance programs or delinquencies, but potential for timing delays is “elevated.”
Brookfield Cuts Staff as It Tries to Steady Mall Portfolio
Wall Street Journal, Sept. 29, 2020–Esther Fung (subscription)Brookfield Property Partners’ recent move to slash staff shows how the firm’s big bet on repurposing shopping malls is slamming into unanticipated challenges …