CBNC, June 8, 2020–Diana OlickThe number of borrowers in both government and private-label mortgage forbearance programs dropped by 34,000 last week, Black Knight reported. This is the first drop since …
Category: Top National News
The Next Big Problem For The Economy: Businesses Can’t Pay Their Rent
Washington Post, June 4, 2020–Heather Long Nearly half of commercial retail rents were not paid in May. Companies as big as Starbucks say the financial devastation from the shutdown has …
Hotel Owner Seeking Mortgage Relief? Not If Wall Street Owns Your Loan
Wall Street Journal, June 4, 2020–Ben Eisen (subscription)The coronavirus shutdown has spared few companies in the travel business, but times are especially tough for hotel owners whose mortgages are owned …
Risky Mortgages Back 10 Weeks After Dramatic Crash
Orange County Register, June 4, 2020–Jeff LazersonTen weeks ago, with the full force of COVID-19 converging on America, non-QM institutional buyers of these funded loans lost their nerve. They panicked. …
Government Backstop Grows to 98% of New Financing in Residential Mortgage-Bond Market During Pandemic
MarketWatch, June 3, 2020–Joy WiltermuthThe U.S. government has guaranteed nearly all new home loans in the $11 trillion housing debt market in the months since the coronavirus tool hold across …
Mortgage Investors May Get Relief from Surging Home Refinancings
Bloomberg, June 3, 2020–Christopher MaloneyAggregate prepayment speeds are expected to show a decline in the next report, and that would be good news for mortgage investors.https://www.bloomberg.com/news/articles/2020-06-03/mortgage-investors-may-get-relief-from-surging-home-refinancings
There’s Only So Much You Can Automate Forbearance Requests: GSEs
National Mortgage News, June 3, 2020–Bonnie Sinnock (subscription)“What we’re hearing from our servicers is roughly 50%-60% of all new forbearance plans were launched through self-serve digital portals,” said Kevin Palmer, …
Unemployment Fraud Spreads Across U.S. as Coronavirus Boosts Claims
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 …
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