National Mortgage News, June 16, 2020–John Reosti (subscription)Shelter-in-place orders have given homeowners the time to pursue upgrades and repairs, and banks are seizing the opportunity to help finance the projects.https://www.nationalmortgagenews.com/news/home-improvement-lending-heating-up-during-pandemic
Category: Top National News
These Homeowners are Seeking Forbearance and their Reasons Why Say a Lot About the Economy
MarketWatch, June 16, 2020–Sanjiv DasMortgage lender CEO (Caliber Home Loans) shares his firm’s experience as borrowers grapple with the coronavirus pandemic and recession.https://www.marketwatch.com/story/these-homeowners-are-seeking-mortgage-forbearance-and-their-reasons-why-say-a-lot-about-the-economy-2020-06-16
JP Morgan to Advise Freddie Mac in Planned Recapitalization, Conservatorship Exit
Commercial Observer, June 15, 2020–Mack BurkeBanking giant J.P. Morgan Chase has been tapped by Freddie Mac to advise the government-backed mortgage behemoth on its recapitalization and planned exit from federal …
FHFA Identifies Supervisory Concerns at Two Federal Home Loan Banks
National Mortgage News, June 15, 2020–Hannah Lang (subscription)The Federal Housing Finance Agency identified several safety and soundness concerns with the Federal Home Loan Bank of Des Moines and the Federal …
Andrew Olmem, Deputy National Economic Council Director, to Leave White House
Wall Street Journal, June 15, 2020–Kate Davidson (subscription)A top White House economic official who played an important role in the Trump administration’s revamp of financial regulations is stepping down. Andrew …
3 in 10 Americans Missed their June Housing Payment–Study
Mortgage Professional America, June 12, 2020–Ryan SmithAmericans are feeling a high level of housing insecurity amid the COVID-19 pandemic despite its economic impacts beginning to soften, according to a new …
Senators Weigh Allowing Corporations to Accelerate Federal Tax Breaks in Next Coronavirus Bill
Washington Post, June 12, 2020–Jeff SteinSome members of the Senate Finance Committee are studying a proposal that would allow corporations to claim a bevy of federal tax credits in 2020 …
Strip FASB of its Powers
American Banker, June 12, 2020–William M. Isaac, Howard P. Milstein (subscription)The authors, a former chair of FDIC and chair of Emigrant Bank, respectively, say awmakers should go further than their …
Why are Millionaire Home Buyers Being Lumped in with Subprime Borrowers?
National Mortgage Professional, June 12, 2020–Clayton JarvisAccording to John R. Lynch, CEO and founder of PCMA Private Client Lending, “non-QM immediately, in the psychology of our industry, got labeled as …
Fed Report Says Coronavirus Shock Has Hit Low-Wage Workers Hardest
Wall Street Journal, June 12, 2020–Nick Timiraos (subscription)The Federal Reserve said severe disruptions in the U.S. labor market related to the coronavirus pandemic were hitting workers with lower earnings, including …