UExpress, June 12, 2020–Lew SichelmanMuch has been written about government abuse during the COVID-19 pandemic. Plenty has been said, too, about how some well-heeled businesses have snatched up government loans …
Category: Top National News
Congress Confronts Summer Deadlines for Stimulus Spending Decisions
Wall Street Journal, June 11, 2020–Kate Davidson, Nick Timiraos (subscription)With the Federal Reserve pledging to do whatever it can to pull the U.S. out of a recession, it is now …
Self-Employed Borrowers Face New Scrutiny from Fannie, Freddie
Orange County Register, June 11, 2020–Jeff LazersonNearly one in 10 U.S. workers is self-employed, according to the U.S. Bureau of Labor Statistics. If you own 25% or more of a …
California Tables ‘Mini-CFPB’ Idea–for Now
American Banker, June 11, 2020–Kate Berry (subscription)With days to go before a key deadline for California legislators, a plan to establish a new state consumer financial protection agency is shrouded …
Why Lenders are Wary of FHA’s Terms for Buying Loans with Forbearance
National Mortgage News, June 10, 2020–Bonnie Sinnock (subscription)Lenders are concerned about a risk requirement imposed by a recent Federal Housing Administration measure aimed at opening up homeownership opportunities that might …
U.S. Households’ Net Worth Had Record Fall in First Quarter
Wall Street Journal, June 11, 2020–Paul Kiernan (subscription)The net worth of U.S. households saw a record decline in the first three months of this year as the coronavirus pandemic sent …
Second Pandemic Wave Would Inflict Big Economic Cost, Says OECD
Wall Street Journal, June 10, 2020–Paul Hannon (subscription)A second wave of lockdowns to counter a resurgent novel coronavirus would deal a terrible blow to a global economy already facing a …
Under Fire, Carson Says HUD will Allow DACA Recipients to Get FHA Mortgages
HousingWire, June 10, 2020–Kathleen HowleyHUD Secretary Ben Carson’s response at a Senate Banking Hearing Tuesday also comes a year after HUD Assistant Secretary for Congressional and Intergovernmental Relations Len Wolfson …
$130 Billion in Small-Business Aid Still Hasn’t Been Used
New York Times, June 10, 2020–Stacy CowleyAs of Tuesday, more than $130 billion was left in the fund, known as the Paycheck Protection Program. Even more striking was the fact …
Republicans Prepare to Punt on the Next COVID-19 Relief Bill
The Hill, June 10, 2020–Jordain CarneyRepublican senators are leaning into their go-slow approach on the next coronavirus bill. Bolstered by last week’s unexpectedly positive jobs report, Senate Republicans are signaling …