American Banker, June 1, 2020–Eugene Ludwig, Wayne Rushton, Tom Freeman, Jeff Glibert (subscription)The crisis being triggered by the coronavirus pandemic is accelerating the financial industry toward an era of dramatically …
Category: Top National News
Despite Widespread Economic Toll, Most Americans Still Favor Controlling Outbreak over Restarting Economy
Washington Post, June 1, 2020–Scott Clement, Dan BalzNearly 6 in 10 Americans say the coronavirus outbreak has exacted a severe economic toll on their communities, but a majority of a …
Mortgage Sector Off to Worst Start Since 2013 Despite Fed Help
Bloomberg, June 1, 2020–Christopher MaloneyMortgage investors have yet to enjoy robust returns this year despite the Federal Reserve providing $688 billion of support to the sector since mid-March. (MBA mention)https://www.bloomberg.com/news/articles/2020-06-01/mortgage-sector-off-to-worst-start-since-2013-despite-fed-help
5 Questions for the MBA’s Robert Broeksmit About Liquidity Gaps
National Mortgage News, June 1, 2020–Bonnie Sinnock (subscription)MBA President and CEO Robert Broeksmit discusses the current state of liquidity needs in the mortgage banking industry, and the risks that remain …
Here’s What You Need to Know About Paying Your June Rent or Mortgage
Washington Post, May 31, 2020–Renae MerleAlready, more than 8 percent of U.S. homeowners, about 4.7 million households, have signed up for mortgage relief programs, according to the Mortgage Bankers Association. …
Wells Fargo Struggling to Stay Under Asset Cap Amid Pandemic, CEO Says
National Mortgage News, May 29, 2020–Jon Prior (subscription)Even after the Fed eased some limitations in April to promote emergency lending, the bank has had to make some “tough choices” to …
Black Knight: Nine Percent Of Mortgages Now In Forbearance
National Mortgage Professional, May 29, 2020Black Knight’s latest McDash Flash Forbearance Tracker shows that forbearance volumes have flattened over last week’s totals, as of May 26, 4.76 million homeowners are …
Federal Reserve Ramps Up Deliberations on Asset Purchases, Rate Guidance
Wall Street Journal, May 29, 2020–Nick Timiaros (subscription)Federal Reserve officials head into their next policy meeting deliberating how to assist an economy in a deeper hole than it faced after …
Demand for Mortgage Bailout Slows to a Trickle Despite Continuing Coronavirus Fallout
CNBC, May 29, 2020–Diana OlickDespite record-high unemployment and massive economic fallout from the coronavirus pandemic, fewer homeowners appear to be struggling to make their monthly mortgage payments now than at …
Housing Market is Unexpected Stalwart in Pandemic Shutdown
Bloomberg, May 29, 2020–Prashant GopalStuck day and night in their homes, a surprising number of Americans are deciding the pandemic is a great time to upgrade.https://www.bloomberg.com/news/articles/2020-05-29/housing-market-is-unexpected-stalwart-in-the-pandemic-shutdown