Bloomberg, Aug. 12, 2020–Christopher MaloneyMortgage-backed securities analysts at Morgan Stanley and Bank of America Corp. have recently warned that valuation models are less reliable with the precipitous drop in mortgage …
Category: Top National News
MBA Requests Six-Month Extension of CFPB’s QM Patch
National Mortgage News, Aug. 12, 2020–Paul Centopani (subscription)The Mortgage Bankers Association wants to add six more months to the Consumer Financial Protection Bureau’s latest GSE patch proposal. In a letter …
‘It Was Like the Twilight Zone’: Few Return to Empty Manhattan Offices
Wall Street Journal, Aug. 11, 2020–Anne Kadet (subscription)It has been more than a month since nonessential workers were allowed back to the office in New York City, but so far …
Small Businesses Are Dying by the Thousands — And No One Is Tracking the Carnage
Bloomberg, Aug. 11, 2020–Madeleine NgoBig companies are going bankrupt at a record pace, but that’s only part of the carnage. By some accounts, small businesses are disappearing by the thousands …
Commercial Properties’ Ability to Repay Mortgages Was Overstated, Study Finds
Wall Street Journal, Aug. 11, 2020–Cezary Podkul (subscription)Thousands of commercial-mortgage borrowers have been struggling to meet payments on their loans in the midst of the coronavirus pandemic. But there might …
COVID-19 Has Exposed the Cracks in Mortgage Modification Reporting
Mortgage Professional America, Aug. 11, 2020–Ryan SmithThe COVID-19 pandemic has exposed numerous faults in the reporting of mortgage modifications, with “numerous cases of underreported or entirely omitted modification behavior.”https://www.mpamag.com/news/covid19-has-exposed-the-cracks-in-mortgage-modification-reporting-230391.aspx
Why Banks are Putting PPP Forgiveness on the Back Burner
American Banker, Aug. 10, 2020–John Reosti (subscription)The Small Business Administration began accepting applications Monday, but lenders such as JPMorgan Chase are holding off in hopes that Congress will grant blanket …
Office Markets Under Pressure as Coronavirus Squeezes Cities
Wall Street Journal, Aug. 4, 2020–Konrad Putzier, Mark MaurerUrban office markets and other commercial real estate in major cities are experiencing their worst stretch in decades, upended by the pandemic, …
The Number of Americans Skipping Mortgage Payments is Falling — Except Among These Borrowers
MarketWatch, Aug. 5, 2020–Jacob PassyFor nearly two months now, the share of mortgage borrowers who has received approval to skip their monthly loan payments has fallen precipitously. But a new …
Self-Employed Borrowers Now Face More Mortgage Scrutiny
Forbes, Aug. 6, 2020–Mark HenricksConIt’s always been a little tougher for self-employed borrowers to get home loans than it is for regular W-2 employees. Now mortgage lenders are hiking income …