National Mortgage Professional, July 8, 2020There were at least 550 mortgage industry companies who received PPP loans.https://nationalmortgageprofessional.com/news/75442/mortgage-industry-took-full-advantage
Category: Top National News
Real Estate CEO Expects ‘Exodus’ of Central Business Districts to Last the Next Two Years
CNBC, July 7, 2020–Tyler CliffordMarcus & Millichap President and CEO Hessam Nadji told CNBC he expects the residential “exodus” from city centers such as New York City to last up …
Financial Services Industry Struggles to Emerge from Lockdown
American Banker, July 7, 2020–Michael Moeser (subscription)Nearly six out of 10 employers report that their plans for the return to work are stymied by uncertainty — specifically, a lack of …
Millions of Americans Have Moved Due to Coronavirus
Bloomberg, July 7, 2020–Breanna T. BradhamThe ongoing coronavirus pandemic, which has infected nearly 3 million Americans and killed over 130,000, has also caused millions to uproot themselves from their homes. …
Borrowers Need Property Tax Relief, Too. Here’s How It Could be Done
National Mortgage News, July 6, 2020–Glenn Newman (subscription)There are substantial costs involved in defaulting a mortgage and instituting foreclosure proceedings. By providing flexibility for property tax payments localities can help …
Foreclosure Threat Grows as COVID-19 Surges, Fed Says
HousingWire, July 6, 2020–Kathleen HowleyThe danger of mortgage forbearances turning into foreclosures is rising as COVID-19 infections surge in the U.S., according to the Federal Reserve Bank of Atlanta.https://www.housingwire.com/articles/foreclosure-threat-grows-as-covid-19-surges-fed-says/
Refinancing Your Mortgage Could Put Cash in Your Pocket…
CNBC, July 6, 2020–Michelle Fox“We are telling everybody who has a loan over 4% to consider refinancing, if they still have income,” said Winnie Sun, president and founder of Irvine, …
SCOTUS Upholds Robocall Ban
Associated Press, July 6, 2020Political consultants and pollsters were among those asking the Supreme Court to strike down the 1991 law that bars them from making robocalls to cellphones as …
Mall and Hotel Loans Are Blowing up Commercial Mortgage-Backed Securities
Wolf Street, July 5, 2020–Wolf RichterThe delinquency rate for Commercial Mortgage Backed Securities (CMBS) spiked by 317 basis points to 10.3% in June, after having spiked by 481 basis points …
First Black Fed President Warns of Systemic Racism’s Economic Toll
Wall Street Journal, July 6, 2020–Nick Timiraos (subscription)Raphael Bostic, the Federal Reserve Bank of Atlanta’s president, is shining a light on how economic and social upheaval have changed how the …