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 …
Category: Top National News
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 …
The Write-Downs are Coming. Start Preparing Now
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 …
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