Reuters, Apr. 27, 2020–Pete Schroeder, Michelle PriceU.S. banks on Monday began another chaotic dash to grab $310 billion in fresh small-business aid released by the government, after 11th-hour changes to …
Category: Top National News
Skipping Mortgage Payments Isn’t for Everyone
Bloomberg, Apr. 27, 2020–Alexis LeondisRepayment options may depend on whether the lender is a bank or non-bank, with banks that keep those loans on their books likely to be more …
The Housing Market Is Edging Dangerously Close to a $1 Trillion Reckoning
CCN, Apr. 24, 2020–W.E. MessamoreRobert Broeksmit, CEO of the Mortgage Bankers Association, urged the Federal Reserve and Treasury last month to provide liquidity to survive a cash crunch.https://www.ccn.com/the-housing-market-is-edging-dangerously-close-to-a-1-trillion-reckoning/
Goldman Caught Fed-Fueled Rebound with Bet on Mortgage Bonds
Bloomberg, Apr. 24, 2020–Alastair Marsh, Luca CasiraghiGoldman Sachs Group Inc. bought up mortgage bonds during a wave of panic selling last month, a bet that’s almost certainly made money since …
Why the FHFA’s Latest Move Undermines the MBS Market
National Mortgage News, Apr. 24, 2020–Christopher Whalen (subscription)This past week, Federal Housing Finance Agency Director Mark Calabria stated that he was directing the GSEs to “add liquidity” to the markets, …
Multifamily Mortgage Debt on the Rise Through Q4 2019; What About 2020?
Commercial Property Executive, Apr. 24, 2020–Jamie WoodwellMBA Vice President of Commercial/Multifamily says continuing the recent trend, the growth in multifamily mortgage debt outpaced that of other property types.https://www.cpexecutive.com/post/commercial-multifamily-mortgage-debt-outstanding-3/
Mortgage Bailout Balloons by Half a Million More Loans in One Week
CNBC, Apr. 24, 2020–Diana Olick“We continue to call on the Treasury and Federal Reserve to provide a liquidity facility to ensure that servicers can continue their important work of advancing …
‘We Got Out Early and Quickly:’ FHA Chief Details Coronavirus Response
American Banker, Apr. 23, 2020–Hannah Lang (subscription)The Federal Housing Administration has provided struggling homeowners with payment flexibility and explored other measures. At the same time, the agency is mindful of …
Mnuchin Says U.S. Has No Plans for Mortgage Servicer Lifeline
Bloomberg, Apr. 23, 2020–Saleha MohsinTreasury Secretary Steven Mnuchin said the U.S. has no current plans to create a Federal Reserve facility to inject funding into non-bank mortgage servicers, as recent …
House Passes $484 Billion Relief Package after Weeks of Partisan Battles
Politico, Apr. 23, 2020–Heather Caygle, Sarah FerrisThe bill will provide an immediate $321 billion infusion for the Paycheck Protection Program, the small business rescue fund that ran out of money …