USA Today, May 16, 2020–Nathan Bomey, Kely TykoThe department store chain filed for bankruptcy Friday and is asking a federal judge to authorize the rejection of 20 leases in the …
Category: Top National News
Mortgage Relief That Comes With a $4,000 Bill
New York Times, May 16, 2020–Tara Siegel BernardBorrowers with privately held mortgages don’t have the same options as those with government-backed loans. Some are being told they can skip payments, …
Can Unemployment Numbers Predict the Number of Mortgages That Will Go into Forbearance?
Urban Institute, May 15, 2020–Laurie Goodman, Michael Neal, Jung Hyun ChoiThe authors explain why estimating how many of the 33.4 million borrowers who have government-backed mortgages will ask for forbearance …
Morningstar Fined $3.5 Million for Violating Conflict of Interest Rules on ABS Ratings
HousingWire, May 15, 2020–Ben LaneThe Securities and Exchange Commission announced Friday that it is ordering Morningstar Credit Ratings to pay a $3.5 million fine for violating conflict of interest rules …
Whistleblower: Wall Street Has Engaged in Widespread Manipulation of Mortgage Funds
ProPublica, May 15, 2020–Heather VogellSecurities that contain loans for properties like hotels and office buildings have inflated profits, the whistleblower claims. Adam DeSanctis, a spokesperson for the Mortgage Bankers Association, …
Fewer Borrowers are Asking for Mortgage Relief, But That Could Change With Bailout Improvements
CNBC, May 15, 2020–Diana Olick“The payment deferral option gives mortgage servicers a practical tool to help homeowners through this unprecedented time,” said Bob Broeksmit, CEO of the Mortgage Bankers Association. …
The Mortgage Market Has Caught the Virus
Urban Institute, May 14, 2020–Laurie Goodman, Jim Parrott, Bob Ryan, Mark ZandiThe authors note while the nation’s housing and mortgage markets aren’t causing the broader economic disruption in this crisis, …
Multifamily Loan Maturities Expected to Rise as Net Operating Incomes Drop
GlobeSt.com, May 14, 2020–Thomas PhillipsMaturities for multifamily loans will be up this year by double-digits during the disruption of capital markets by the COVID-19 pandemic, according to a new report …
Cash-Out Refinancing, Home Equity Lending May Come to a Halt
Orange County Register, May 14, 2020–Jeff LazersonMortgage lenders are charging more, cutting back on loan sizes or shuttering equity lending altogether. Nearly 8% of all mortgages are now in forbearance, …
One-Quarter of American Restaurants Won’t Reopen, OpenTable Says
Bloomberg, May 14, 2020–Edward LudlowOne in every four U.S. restaurants will go out of business due to the coronavirus quarantines that have battered the food-service industry, according to OpenTable.https://www.bloomberg.com/news/articles/2020-05-14/one-quarter-of-american-restaurants-won-t-reopen-opentable-says