New York Times, May 3, 2020–Vanessa Friedman, Sapna Maheshwari, Michael J. de la MercedIt is the first major retailer to fall during the coronavirus pandemic, though other big industry names …
Category: Top National News
Experts Say Struggling Airbnb Hosts May Be Forced to Sell Their Properties
Money, May 1, 2020–Gabriella Cruz-MartinezAs the coronavirus continues to wreak havoc on the economy and travel industry, Airbnb homeowners are starting to wonder if they’re going to be able to …
The Office You Left Is Not Going to Be the Office You Return To
Bloomberg, May 1, 2020–Jeff Green, Michelle F. DavisLike much of the response to the pandemic, it’s an evolving work in progress. But one thing is clear: It will look and …
Fannie Mae Income Drops as More Homeowners Suspend Mortgage Payments
Wall Street Journal, May 1, 2020–Andrew Ackerman (subscription)Fannie Mae, the government-controlled mortgage finance giant, reported a steep drop in income as it set aside more money for expected loan losses, …
U.S. Homeowners are Increasingly Delaying Mortgage Payments
Bloomberg, May 1, 2020–John GittelsohnAbout 7.3% of U.S. mortgages entered forbearance plans in April, providing temporary relief to more than 3.8 million borrowers who have lost income during the coronavirus …
Mr. Cooper Has Nearly 200,000 Customers in Forbearance But is Not Longer Worried About Liquidity
HousingWire, Apr. 30, 2020–Ben LaneAccording to CEO Jay Bray, Mr. Cooper is now in position to not need to lean on government sources for funding, whether it’s a Treasury or …
Borrowers Risk Losing Their Homes as Unpaid Mortgage Bills Pile Up
Orange County Register, Apr. 30, 2020–Jeff LazersonIn the seven short weeks since President Trump declared the coronavirus emergency, 3.5 million homeowners (7% of approximately 50 million total borrowers) are already …
Profits Drop in 1Q, But Freddie Mac is ‘Withstanding the Crisis’
National Mortgage News, Apr. 30, 2020–Paul Centopani (subscription)While Freddie Mac stabilized liquidity in mortgage markets, coronavirus-related credit losses drove the GSE’s income down in the first quarter of 2020.https://www.nationalmortgagenews.com/news/freddie-macs-first-quarter-earnings-2020
Here’s How Many Millions Will Be ‘Seriously Delinquent’ In Mortgage Payments When We Reach Peak Unemployment
Forbes, Apr. 30, 2020–Amy DobsonIn the moderate, or ‘baseline’ scenario, an estimated 3 million borrowers could be more than 90 days behind on payments (90 days is what they define …
Liability Shield for Businesses Emerges as New Fight over Reopening
The Hill, Apr. 30, 2020–Alex Gangitano, John KruzelThe business community is pressuring the White House and Congress to shield companies from lawsuits as they seek to reopen, setting up a …