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 …
Category: Top National News
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 …
J. Crew Files for Bankruptcy in Virus’s First Big Retail Casualty
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 …
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 …