Forbes, July 10, 2020–Natalie Campisi“Looking at the mix of loans that are exiting forbearance, we are seeing a higher share exiting into deferral options and modifications, and somewhat fewer simply …
Category: Top National News
COVID Housing Update: Forbearance Options Going Forward
UExpress, July 10, 2020–Lew SichelmanNo one knows exactly how many borrowers will find themselves in deep trouble when their government-mandated forbearance plans end Aug. 31. But it’s likely to be …
Wells Fargo Tells New Clients They Need $1 Million in Balances for Certain Mortgage Refinancings
CNBC, July 9, 2020–Hugh SonThe move shows how Wells Fargo, the largest U.S. mortgage lender, is operating under the dual pressures of the coronavirus pandemic and a Federal Reserve cap …
Supreme Court to Hear Case on Government Seizure of Fannie, Freddie Profits
Wall Street Journal, July 9, 2020–Brent Kendall, Andrew AckermanThe Supreme Court on Thursday said it would wade into a yearslong dispute involving the federal takeover of Fannie Mae and Freddie …
Supreme Court to Address FHFA’s Constitutionality, Autodialers
DS News, July 9, 2020–Mike AlbaneseThe U.S. Supreme Court on Thursday announced it will hear appeals in a case challenging the constitutionality of the Federal Housing Finance Agency’s single-director structure.Last …
Brooks Brothers Files for Bankruptcy as Athleisure Replaces Button-Down Shirts
Reuters, July 8, 2020–Nivedita BaluApparel brand Brooks Brothers filed for Chapter 11 bankruptcy on Wednesday, joining a list of decades-old American retailers that have crumbled under the impact of the …
FICO Will Now Score Consumers’ Readiness for a Financial Crisis. Here’s How It Works
Washington Post, July 8, 2020–Michelle SingletaryFICO, the company behind the most-used credit score, recently launched a new product to help lenders figure out which consumers are likely to be financially …
Mortgage Industry Took Full PPP Advantage
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
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 …