Wall Street Journal, June 3, 2020–Sarah Chaney (subscription)States across the country are being hit by unemployment-benefit fraud that could amount to billions of lost dollars, reflecting the vulnerabilities that workers …
Category: Top National News
Hotel, Retail Lead Late Loans—Will Other Assets Follow?
Commercial Property Executive, Jun. 3, 2020–Paul FiorillaMost of the data released on recent loan performance involves CMBS, but portfolio lenders are having a similar experience with loan performance bifurcated by …
Fitch Weighs the Potential Fallout of GSEs Exiting Conservatorship
National Mortgage News, June 3, 2020–Brad Finkelstein (subscription)Fitch also predicts that the coronavirus pandemic will delay the GSEs’ release from government control.https://www.nationalmortgagenews.com/news/fitch-weighs-the-potential-fallout-of-gses-exiting-conservatorship
Coronavirus Stimulus Funds Are Largely Depleted After Nine Weeks
Wall Street Journal, June 3, 2020–Kate Davidson, Paul Kiernan (subscription)Nine weeks after Congress approved its largest-ever economic relief measure to counter the coronavirus pandemic, most of the direct cash assistance …
For Mortgage Markets, the Outlook is Sunny
National Mortgage News, June 2, 2020–Christopher Bennett (subscription)While the Federal Reserve’s action the week of March 23 tremendously overdid things, sending mortgage-backed security prices skyrocketing over 500 basis points, its …
Fed Promised to Buy Bonds but Is Finding Few Takers
Wall Street Journal, June 3, 2020–Matt Wirz (subscription)The Federal Reserve thawed credit markets in March by promising a whatever-it-takes program to buy corporate bonds. Ten weeks later, the Fed has …
Fed Urged to Widen Eligibility for Pandemic Loan Programs
American Banker, June 2, 2020–Neil Haggerty (subscription)Members of both parties raised concerns that the requirements for participating in the Municipal Liquidity Facility and Main Street Lending Program are too restrictive …
Freddie Mac Appoints New CFO as It Prepares to Exit Conservatorship
HousingWire, June 2, 2020–Kelsey RamirezFreddie Mac appointed Christian Lown as its executive vice president and chief financial officer, effective June 15, as the company prepares to exit conservatorship.https://www.housingwire.com/articles/freddie-mac-appoints-new-cfo-as-it-prepares-to-exit-conservatorship/
How Economic Crises and Sudden Disasters Increase Racial Disparities in Homeownership
Urban Institute, June 1, 2020–Alanna McCargo, Michael NealThe authors outline considerations and implications for racial equity, homeownership, and wealth building presented by the current pandemic, which is magnifying racial and …
How Lenders are Preparing for a Wave of Loan Modifications
National Mortgage News, June 2, 2020–Brad Finkelstein (subscription)For the first weeks of the coronavirus crisis, mortgage servicers were in triage mode. As the government issued a flurry of measures to …