National Mortgage Professional, July 30, 2020–Keith GriffinMortgage servicers have been put to the test during the COVID-19 pandemic as a combination of historically low interest rates, record high unemployment and …
Category: Top National News
5 Mortgage-Related Policies That are in Flux Due to the Coronavirus
National Mortgage News, July 29, 2020–Bonnie Sinnock (subscription)From guidelines for remote appraisal alternatives to the ways that forbearance affects borrowers’ ability to get new loans, here are five examples of …
Is the U.S. Mortgage Industry About to Fall Off a Cliff?
Mortgage Professional America, July 29, 2020–Libby McDonaldForbearance programs permitting temporary suspension of Americans’ monthly mortgage payments have been a godsend to the more than 4 million borrowers who have made …
New Legislation Would Aid Cash-Strapped Commercial Property Owners
Wall Street Journal, July 29, 2020–Ben Eisen (subscription)The bill, expected Wednesday, would set up a government-backed funding vehicle businesses could tap to stay current on their mortgages. It is meant …
Will GOP Plan to Slash Unemployment Trigger Wave of Loan Defaults?
American Banker, July 28, 2020–Neil Haggerty, Hannah Lang (subscription)“It is something we’ve been concerned about,” said Bill Kilmer, senior vice president for legislative and political affairs at the Mortgage Bankers …
Mortgage Complaints Down During Pandemic
National Mortgage Professional, July 28, 2020–Keith GriffinNew research from LendEDU shows consumer complaints to the Consumer Financial Protection Bureau are down 4% year-over-year. That stands in stark contrast to credit …
Republican Stimulus Package May Come With a Benefit for Big Banks
New York Times, July 28, 2020–Jeanna Smialek, Emily Flitter, Peter EavisThe chairman of the Senate Banking Committee, Sen. Mike Crapo, R-Idaho, is preparing to relax capital requirements imposed in the …
Senate Republicans Ready Release of COVID Proposal
Politico, July 27, 2020–Marianne Levine, John Bresnahan, Sarah FerrisThe White House-backed Senate GOP proposal is expected to reduce boosted unemployment benefits from $600 to $200.https://www.politico.com/news/2020/07/27/senate-gop-coronavirus-relief-package-382502
Commercial Real Estate Investing In Challenging Times
Forbes, July 27, 2020–Ryan SwehlaOne area of the economy that is seen as especially vulnerable in the wake of pandemic-related upheaval is commercial real estate. In fact, even before Covid-19 …
2020 is the Summer of Booming Home Sales–and Evictions
Washington Post, July 27, 2020–Heather LongThe affluent are taking advantage of the cheapest mortgage rates in history to buy bigger homes. Meanwhile, renters face more job losses and fear eviction. …