American Banker, May 28, 2020–Hannah Lang (subscription)The general structure of this year’s reviews is unchanged despite the pandemic. But a supplemental analysis of banks’ response to the downturn could weigh …
Category: Top National News
These Lenders Made it Confusing for Many to Get Coronavirus Relief, Watchdog Says
Los Angeles Times, May 28, 2020–Erin B. LoganMillions of American homeowners who are eligible for relief under the CARES Act were provided inconsistent or confusing information by more than two …
More Borrowers Using Home-Equity Loans for Renovations
Mortgage Professional America, May 28, 2020–Ryan SmithWith the coronavirus pandemic keeping Americans indoors, more homeowners are taking out home-equity loans in order to fund renovations, according to a new study …
Should You Skip a Mortgage Payment During the Pandemic?
U.S. News and World Report, May 28, 2020Mortgage deferment and forbearance both allow you to put off mortgage payments, but the plans are structured differently, explains Sara Singhas, director of …
Low Mortgage Rates Increasingly Inaccessible for Poor Credit Score Borrowers
Bankrate.com, May 27, 2020–Mitch StrohmMortgage rates may be near multi-decade lows, but those favorable rates are becoming less accessible to borrowers with damaged credit. For many of those individuals loans …
Tenants Fear Mass Evictions as Moratoria Expire
The Hill, May 27, 2020–J. Edward MorenoAs the pandemic began to take a grip on the country in March, dozens of states passed eviction moratoriums that protect tenants from being …
Is the Mortgage Market Really Opening Up for Non-QM Borrowers?
National Mortgage News, May 27, 2020–Bonnie Sinnock (subscription)Economic uncertainty and the proliferation of coronavirus-related forbearance have complicated mortgage lending in general, but for borrowers with nontraditional income, it’s been particularly …
Mortgage Niche Showed Promise for Michigan Bank. Then Coronavirus Hit
American Banker, May 27, 2020–John Reosti (subscription)University Bancorp in Ann Arbor, Mich., shuttered its wholesale mortgage division a year after its launch when the pandemic made it virtually impossible to …
Distressed Real Estate Market Beckons Opportunistic Buyers
New York Times, May 26, 2020–Joe GoseInvestment firms are sitting on “a staggering amount of dry powder” as they wait for big property discounts brought on by the pandemic.https://www.nytimes.com/2020/05/26/business/distressed-commercial-real-esate-coronavirus.html
Capital Levels Are An Issue with Some, Not With Others
The Mortgage Leader, May 26, 2020At MBALive, a remote event put on by the Mortgage Bankers Association, FHFA Director Mark Calabria underscored a point he has made numerous times over …