National Real Estate Investor, July 21, 2020–Beth Mattson-TeigWith forbearance periods still underway, visibility has not yet emerged on how much distress sits on bank balance sheets.https://www.nreionline.com/distressed/banks-facing-potential-hefty-volume-troubled-cre-loans?
Category: Top National News
Former Ginnie Mae Chief Calls for Liquidity Facility
National Mortgage News, July 21, 2020–Bonnie Sinnock (subscription)The measures currently ensuring mortgage companies have sufficient cash to cover advances aren’t necessarily sustainable, warns Ted Tozer, a senior fellow at the …
Moment of Truth: Some Homeowners Expect Struggle to Pay Mortgage When Extra Unemployment Ends
USA Today, July 20, 2020–Jessica MentonThe expiration of enhanced benefits comes at a critical time for mortgage borrowers. Policymakers return to Washington this week to debate whether the extra $600 …
Global Real Estate Investment Plunges Amid COVID Pandemic
Bloomberg, July 20, 2020–Todd GillespieGlobal real estate investment fell by 33 percent in the first half as the coronavirus pandemic battered economies and disrupted deals.https://finance.yahoo.com/news/global-real-estate-investment-plunges-230100497.html
Blacks Pay Higher Interest Costs On Mortgages
National Mortgage News, July 20, 2020–Keith GriffinA new study from Realtor.com shows Blacks in America are continuing to pay more for their mortgages than whites. The out-of-pocket cost is almost …
As Ocwen Moves Toward Profitability, Its Specialty Could Cut Both Ways
National Mortgage News, July 17, 2020–Bonnie Sinnock (subscription)Ocwen Financial’s preliminary second-quarter results put it back in the black, and it is positioning its growing distressed-servicing expertise and pandemic-induced exposures as …
The Need for a Federal Liquidity Facility for Government Loan Servicing
Urban Institute, July 17, 2020–Karan Kaul, Ted TozerThis brief explores fundamental differences between the roles Ginnie Mae and the government-sponsored enterprises play in the mortgage market and explains how these …
Moment of Truth: Some Homeowners Expect to Struggle to Pay Mortgage When Extra Unemployment Ends
USA Today, July 20, 2020–Jessica MentonThe expiration of enhanced benefits comes at a critical time for mortgage borrowers. Policymakers return to Washington this week to debate whether the extra $600 …
Mnuchin Says U.S. Should Weigh Forgiving ‘Small’ PPP Loans
Bloomberg, July 17, 2020–Saleha Mohsin, Mark NiquetteThe federal government should weigh forgiving all “small” loans provided under the Paycheck Protection Program during the coronavirus pandemic, U.S. Treasury Secretary Steven Mnuchin …
Non-QM’s Comeback Isn’t Slowing Down
Mortgage Professional America, July 17, 2020–Ryan SmithOne of the first apparent mortgage-market casualties of the COVID-19 pandemic was non-QM lending, with many lenders halting originations as the economic impacts of …