Forbes, July 14, 2020–Dennis BethelTo better understand the performance of commercial real estate, let’s look to the past. Over the last 40 years, there have been five distinct recessions.https://www.forbes.com/sites/forbesrealestatecouncil/2020/07/14/commercial-real-estate-investments-in-recessionary-times/#73b71c966af9
Category: Top National News
‘This Is Not a Normal Recession’: Banks Ready for Wave of Coronavirus Defaults
Wall Street Journal, July 14, 2020–Ben Eisen, David Benoit (subscription)The largest U.S. banks signaled that the worst of the coronavirus recession is yet to come, opting to stow away tens …
An Indicator that Presaged the Housing Crisis is Flashing Red Again
Washington Post, July 14, 2020–Andrew Van DamThe Mortgage Bankers Association reports 4.1 million households were in forbearance as of July 5. To be sure, many applied after the April period …
‘I Can’t Keep Doing This:’ Small-Business Owners Are Giving Up
New York Times, July 13, 2020–Emily FisherMore owners are permanently shutting their doors after new lockdown orders, realizing that there may be no end in sight to the crisis.https://www.nytimes.com/2020/07/13/business/small-businesses-coronavirus.html?campaign_id=2&emc=edit_th_20200714&instance_id=20284&nl=todaysheadlines®i_id=42063674&segment_id=33327&user_id=e670283fb4fff3d4391d6f88569ad498
Wells Fargo Buys $14B of Delinquent Mortgages Tied to Pandemic
American Banker, July 13, 2020–Kate Berry (subscription)Wells Fargo has purchased $14 billion of delinquent government-backed mortgages this month, leading the pack among servicers beginning to feel the balance-sheet pinch of …
Dodd-Frank at 10: How Regulation Has (and Hasn’t) Changed Since Law’s Passage
American Banker, July 13, 2020–Joe Adler (subscription)Policymakers have eased some rules and the Supreme Court recently dealt a blow to the Consumer Financial Protection Bureau. But as the landmark legislation …
Quicken Loans Opposes Proposed HUD Change to Fair Housing Enforcement
National Mortgage News, July 13, 2020–Bonnie Sinnock (subscription)A proposal that alters a framework used to enforce the Fair Housing Act would “make it difficult to address some of the more …
You Might Have a Tough Time Getting a ‘Jumbo Mortgage’ During Pandemic. Here’s What to Expect
CNBC, July 13, 2020–Sarah O’BrienIn the face of economic uncertainty and continuing high numbers of new unemployment claims — which means it’s trickier to predict who won’t default on a …
Lenders are Slowly Starting to Offer Jumbo Mortgages Again
Bankrate.com, July 13, 2020–Mitch StrohmLenders are slowly and selectively starting to underwrite jumbo mortgages again after all but abandoning the market as the pandemic got underway. Since February 2020, jumbo …
What Would It Take to Trigger a Housing Downturn in the Second Half of 2020?
HousingWire, July 10, 2020–Logan MohtashamiThe housing bears are saying this V-Shape recovery will turn into a W, meaning there will be another significant downturn. Just because the housing bears have …