HousingWire, July 23, 2020–Robyn A. FriedmanWith the Mortgage Bankers Association reporting that 7.8% of all mortgage loans were in forbearance as of July 12 – translating into 3.9 million homeowners …
Category: Top National News
FHFA’s Capital Rule Is a Step Backward
Urban Institute, July 22, 2020–Jim Parrott, Bob Ryan, Mark ZandiThe authors summarize and critique FHFA’s recent capital proposal for Fannie Mae and Freddie Mac, concluding that it misapplies the bank …
Cracks Begin to Show in Multifamily Lending
American Banker, July 22, 2020–Laura AlixMultifamily has been one of the most reliable and best-performing commercial real estate sectors in recent years, benefiting from mass migration to cities and a …
Democratic Bills Would Bar GSEs from Charging Forbearance Fees
National Mortgage News, July 22, 2020–Neil Haggerty (subscription)Sen. Bob Menendez, D-N.J., unveiled the Promoting Access to Credit for Homebuyers Act on Wednesday. The bill would require the two government-sponsored enterprises, …
The Feared Jumbo Mortgage Debacle is Here–Thanks to the Coronavirus…
MarketWatch, July 22, 2020–Keith JerowWhat has been largely overlooked are the mounting problems of wealthier homeowners with jumbo mortgages. They have also been slammed by the lockdowns.https://www.marketwatch.com/story/the-feared-jumbo-mortgage-debacle-is-here-thanks-to-the-coronavirus-and-ready-to-pound-the-housing-market-2020-07-22
Commercial/Multifamily Mortgage Debt Increased 1.7 Percent in the First Quarter of 2020
Commercial Property Executive, July 22, 2020–Jamie WoodwellAccording to the Mortgage Bankers Association’s most recent Commercial/Multifamily Mortgage Debt Outstanding quarterly report, the level of commercial/multifamily mortgage debt outstanding rose by $61.0 …
Over Half Of Mortgage Borrowers Lost Income During Pandemic
National Mortgage Professional, July 21, 2020–Keith GriffinLending Tree said 53% of mortgage borrowers in the United States have lost income during the pandemic. About 4 in 10 mortgage borrowers said …
Banks Facing Potential Hefty Volume of Troubled CRE Loans
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?
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 …