CNBC, Apr. 21, 2020–Diana OlickThe mortgage industry has been fighting hard for relief, led by the Mortgage Bankers Association. While they still want a larger liquidity facility from the Federal …
Category: Top National News
Excluded From Bailouts, Mortgage Servicers Face Cash Crunch
New York Times, Apr. 20, 2020–Alan Rappeport, Matthew Goldstein, Jeanna SmialekThe Mortgage Bankers Association has been lobbying for a lending facility. “What we really want is a statement from the …
Fannie, Freddie May Soon Buy Home Loans in Forbearance to Help Mortgage Firms
Wall Street Journal, Apr. 20, 2020–Andrew Ackerman (subscription)The Federal Housing Finance Agency is weighing whether to allow Fannie Mae and Freddie Mac, the government-controlled mortgage-finance giants, to buy home loans …
Mortgage Servicers Remain Hopeful U.S. Will Deliver Coronavirus Relief
National Mortgage News, Apr. 20, 2020–Kate Berry (subscription)Federal backing for firms facing a deluge of missed mortgage payments is still on the table despite recent comments by an official who …
Nearly 3 Million Homeowners Get Mortgage Help, But Others Hit Roadblocks
NPR, Apr. 20, 2020–Chris ArnoldAbout 2.9 million homeowners have been allowed to put their mortgage payments on hold as the coronavirus shutdowns around the country put more people out of …
Majority of Americans Support Canceling Rent, Freezing Mortgages During Pandemic
Salon, Apr. 20, 2020–Jessica CorbettNew polling from the think tank Data for Progress shows that a majority of Americans across the political spectrum support canceling rent payments and suspending home …
Neiman Marcus’ Missed April Interest Payment Could Accelerate a Forced Bankruptcy Filing
Dallas News, April 20, 2020–Maria HalkiasNeiman Marcus bondholder Marble Ridge Capital LP said the Dallas-based retailer failed to make a $5.7 million interest payment that was due Wednesday, possibly setting …
The Pandemic is Shrinking the Mortgage Credit Box
Urban Institute, Apr. 17, 2020–Michael Neal, Laurie GoodmanThe authors examine evidence on mortgage rates from recently issued mortgage-backed securities and news about the market to determine how much access to …
More U.S. Homeowners Skip Mortgage Payments with Jobs Vanishing
Bloomberg, Apr. 17, 2020–John GittelsohnMortgage servicers, who are facing a potential liquidity crisis, would need to advance $2.3 billion a month to make good on payments due to investors in …
Independent Mortgage Banks’ Profits Per Loan Surge in 2019
National Mortgage Professional, Apr. 17, 2020–Keith GriffinIndependent mortgage banks and mortgage subsidiaries of chartered banks saw their profits per loan increase four times over their 2018 numbers. Profits spiked because …