Bloomberg, May 21, 2020–Joe Light, Prashant GopalWith the economy shut down, unemployment soaring and no clear end in sight, policymakers have been leaning on two mortgage companies the government took …
Category: Top National News
House and Senate Lawmakers Begin Effort to Rework Paycheck Protection Program So Businesses Have More Flexibility
Washington Post, May 20, 2020–Erica WernerDemocrats and Republicans are working to give companies more time to rehire workers as it has become clear that some firms are struggling with the …
Behind Bond Market’s Stall, Investors See Hard Times Ahead
Wall Street Journal, May 20, 2020–Sam Goldfarb (subscription)Yields on U.S. government bonds have stalled near record lows, a sign that investors are anticipating a difficult economic recovery and years of …
Mortgage Regulator to Loosen Financial Restrictions for Home Loans in Forbearance
MarketWatch, May 20, 2020–Jacob PassyFannie Mae and Freddie Mac issued temporary guidance stipulating that borrowers will be eligible to refinance or buy a new home if they are in a …
Mortgage Bankers Renew Push for a Market-Wide Liquidity Facility
National Mortgage News, May 20, 2020–Bonnie Sinnock (subscription)Mortgage Bankers Association President and CEO Robert Broeksmit on Tuesday reiterated his call for a broad coronavirus-related liquidity facility akin to Ginnie Mae’s, …
Refi Boom Fuels Hiring by Mortgage Firms During the Downturn
HousingWire, May 19, 2020–Phil HallAt a time when unemployment levels are rising to heights not seen since the Great Depression, the mortgage industry is among the relatively few sectors outside …
5 Ways the CFPB Has Eased Industry’s Coronavirus Burden
American Banker, May 18, 2020–Kate Berry (subscription)The agency has freed companies from reporting requirements and provided flexibility on exams to help them deal with COVID-19 fallout. It has also finished …
$500 Billion Treasury Fund Meant for Coronavirus Relief Has Lent Barely Any Money So Far, Oversight Commission Finds
Washington Post, May 18, 2020–Erica WernerThe money was supposed to be used to help prop up large segments of the U.S. economy at a time when millions of Americans had …
Ginnie Mae Adjusts Deinquency Rate Measure to Address Forbearance
National Mortgage News, May 18, 2020–Bonnie Sinnock (subscription)Ginnie Mae is offering temporary relief related to its acceptable delinquency-rate threshold in response to issuers’ need to fulfill the forbearance requirements in …
Mortgage Relief Was Offered, But at a High Price
Washington Post, May 18, 2020–Michelle SingletaryHomeowners who fell behind on mortgage payments were told they had to come up with enormous lump sums at the end of their forbearance. It …