Orange County Register, May 7, 2020–Jeff LazersonIf you are in trouble, contact your mortgage servicer. Find out who owns your mortgage. Explain your plight. Find out what forbearance, mortgage modification …
Category: Top National News
Genworth Posts 1Q Loss; China Oceanwide Deal Delayed Again
Insurance News.Net, May 6, 2020–John HiltonGenworth reported a first-quarter loss of $66 million, after reporting a profit in the same period a year earlier. The quarterly report comes two days …
Democrats Press Top Mortgage Servicers on Forbearance Issues
HousingWire, May 6, 2020–Ben LaneFour leaders of the House Financial Services Committee want much more information from the nation’s biggest mortgage servicers on how many borrowers are asking for forbearance …
Delgado: COVID-19 a ‘Tsunami’ With Slowly Rising Defaults
DS News, May 6, 2020–Mike AlbaneseDelgado gave the remarks as part of the virtual Mortgage Industry Pandemic Summit’s morning keynote session. He was joined for the panel by moderator Jack …
What Happens to Main Street When Even the Biggest Retailers Can’t Pay Rent?
NBC News, May 6, 2020–Leticia MirandaWith billions of dollars in lost payments at stake, retail landlords have been working aggressively to find some resolution with struggling tenants. “Everything is on …
Neiman Marcus, the Retailer to the Rich, Files For Bankruptcy
Wall Street Journal, May 7, 2020–Suzanne Kapner, Soma Biswas (subscription)A Texas oil boom turned a single Neiman Marcus department store in downtown Dallas into one of America’s biggest luxury retailers. …
Former CFPB Director Richard Cordray: Are Servicers Prepared to Provide Relief to Borrowers?
HousingWire, May 7, 2020-Brena NathCordray touches on what his biggest concerns are right now with the increase in forbearance requests, along with the messaging that the industry needs to be …
Hispanic Homebuyers Will Be Critical for the Next Housing Market Recovery. Here’s Why They May Struggle
Urban Institute, May 6, 2020–Caitlin Young, Jung Hyun ChoiThe latest comprehensive review of Hispanic homeownership reveals that Hispanic homebuyers contributed significantly to the post-2007 housing recovery. But Urban Institute analysis …
How Fannie Mae’s Advance Cap Has Impacted the Market So Far
National Mortgage News, May 6, 2020–Bonnie Sinnock (subscription)Some benefits are materializing from Fannie Mae’s pledge to limit servicers’ exposure to principal-and-interest advances the way Freddie Mac does, but counterparties of …
FHA Gives Borrowers Another Solution For Mortgage Relief
National Mortgage Professional, May 6, 2020–Navi PersaudFHA has come up with another way to help borrowers who are struggling to pay their mortgages during the COVID-19 pandemic. FHA is giving …