Cleveland.com, Oct. 5, 2020–Eric HeisigOptima 777 owes $35 million in the unpaid principal of a mortgage for the 484-room St. Clair Avenue hotel, as well as nearly $500,000 in interest …
Category: Top National News
U.S. Commercial Bankruptcies Up 33% Year to Date
Reuters, Oct. 5, 2020–Dan BurnsU.S. commercial bankruptcy filings are up 33% so far this year with new cases in September surging by 78% from a year earlier as the recession …
Non-QM Mortgages For Business Owners Are On The Rebound
National Mortgage Professional, Oct. 5, 2020–Navi PersaudThe COVID-19 pandemic brought the non-qualified mortgage lending space to a screeching halt but the rebound has been underway in recent months, showing signs …
Homeowners Are Exiting Forbearance, But Not in the Ways You’d Expect
MortgageOrb, Oct. 5, 2020–Matt TullyThe article addresses three reasons homeowners have been exiting forbearance and tie this activity back to extensions, and what may be driving these exit behaviors and …
Mortgage Boom Raises Fears Lenders Will Turn Lax
National Mortgage News, Oct. 5, 2020–Jim Dobbs (subscription)Low rates and intense competition might lead some banks to ease underwriting standards in 2021, when the economy may not yet have recovered.https://www.nationalmortgagenews.com/news/mortgage-boom-raises-fears-lenders-will-turn-lax
Regal Cinemas Likely Suspending Operations at All U.S. Locations
Wall Street Journal, Oct. 4, 2020–R.T. Watson (subscription) Second-largest U.S. cinema chain weighs closing doors again as high-profile movies vacate calendar. https://www.wsj.com/articles/regal-cinemas-likely-suspending-operations-at-all-u-s-locations-11601793090?mod=hp_lead_pos4
‘Enigmatic’ CFPB Chief Could Drop More Surprises in a Second Trump Term
American Banker, Oct. 2, 2020–Kate Berry (subscription) Kathy Kraninger’s job status would be in question if Joe Biden wins the White House. If the president is reelected, she may continue …
The Ultra-Rich Are Using Giant Home Loans to Access Cheap Credit
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 …
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 …