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 …
Category: Top National News
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 …
Layoffs Start Turning From Temporary to Permanent Across America
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 …
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 …