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. …
Category: Top National News
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 …
The Rate of Black Homeownership Varies Significantly By Metro Area
HousingWire, July 2, 2020–Julia FalconLooking at the metro level, the rate of Black homeownership in different geographies reveals more details. Black homeownership is highest in Washington, D.C., with 51% of …
Will Foreclosures Explode Once the Moratorium is Lifted?
Orange County Register, Juy 2, 2020–Jeff LazersonAssuming more Americans take hold of safer social distancing and other preventive practices and the miracle vaccine is just around the corner, maybe the …
How COVID-19 Could Alter the Regulatory Landscape
American Banker, July 1, 2020–John Heltman (subscription)The 2008 financial crisis transformed banking regulation. But how have those changes held up in the current recession, and what might be coming next?https://www.americanbanker.com/podcast/how-covid-19-could-alter-the-regulatory-landscape