Bloomberg, May 6, 2020–Shawn Donnan, Joe DeauxPlenty of layoffs that just a month ago were labeled “temporary” are now tagged “indefinite” or “permanent.” Alongside announcements of sweeping staff cuts by …
Category: Top National News
U.S. Household Debt Reaches Yet Another Record on Home Loans
Bloomberg, May 5, 2020–Alexandre Tanzi, Shahien NasiripourAmericans increased their borrowing for the 23rd straight quarter to a total of $14.3 trillion, according to the Federal Reserve Bank of New York, …
How the Coronavirus Could Forever Change Home Buying and Mortgage Lending
MarketWatch, May 5, 2020–Sanjiv DasExtraordinary times call for extraordinary measures. Business leaders in all parts of the U.S. economy are taking bold steps to respond to the coronavirus crisis. Those …
Cash-Out Refis Dry Up as Price Hikes Prove Too Costly
National Mortgage News, May 4, 2020–Kate Berry (subscription)Mortgage lenders have released new rate sheets in the past week showing higher credit scores and loan-to-value ratios plus added fees for cash-out …
Mortgage Standards Get Tougher as Banks Face Greater Risk
Pittsburgh Post-Gazette, May 5, 2020–Tim GrantFrom the lenders who approve mortgages to the pension funds and institutional investors who buy them in bundles on the secondary market, worries are running …
Real Estate Industry Could be Permanently Changed, Even After Pandemic Passes
Washington Post, May 4, 2020–Ilyce Glink, Samuel TamkinThere’s a long list of the ways the novel coronavirus has impacted the real estate market. (MBA mention)https://www.washingtonpost.com/business/2020/05/04/new-normal-is-coming-wake-coronavirus-pandemic/
Increase in Delinquencies Will Require More Accuracy from Mortgage Servicers
Mortgage Professional America, May 4, 2020–Clayton JarvisAccording to Neil Fraser, director of US operations for Paradatec, servicers who have not completed a thorough auditing of their MSR data have ample …
Dirt-Cheap U.S. Mortgages Thwarted by $5 Billion in Margin Calls
Bloomberg, May 5, 2020–Shahien NasiripourThe Federal Reserve’s emergency rescue of the U.S. mortgage market should have set off a celebration among lenders trying to keep up with demand from borrowers. …
Nearly 4 Million Homeowners are No Longer Paying their Mortgages
CBS News, May 1, 2020–Khristopher J. Brooks“Over 26 million Americans have filed for unemployment over the last month, leading to nearly 7 percent of all mortgage borrowers asking to be …
The Housing Market Faces Its Next Crisis as May Rent and Mortgages Come Due
Washington Post, May 3, 2020–Renae MerleMillions of homeowners and renters already are behind on payments in the economic collapse, and the jobless ranks are growing. The number of homeowners seeking …