Bisnow, Apr. 12, 2020–Jonathan Berr“Many banks are concentrating on their existing book of business and client relationships,” CBRE Global President of Debt & Structured Finance Brian Stoffers said in an …
Category: Top National News
Fed’s Housing-Market Concerns Increase Pressure to Help Mortgage Firms
Wall Street Journal, Apr. 9, 2020–Paul Kiernan (subscription)Pressure is building on federal regulators to help mortgage companies that say they face a wave of missed payments by struggling homeowners.https://www.wsj.com/articles/feds-housing-market-concerns-increase-pressure-to-help-mortgage-firms-11586471411?mod=hp_major_pos1#cxrecs_s
Fed’s Mortgage Bond Rescue Could Put Some Lenders Out of Business
Bankrate.com, Apr. 9, 2020–James RoyalThe Federal Reserve has begun purchasing hundreds of billions of dollars in bonds, including mortgage-backed securities (MBS), to help shore up debt markets. While the move …
Cities Widely Ignore Federal Flood Protection Rules, With Few Penalties
New York Times, Apr. 9, 2020–Christopher Flavelle, John SchwartzIt’s a simple rule, designed to protect both homeowners and taxpayers: If you want publicly subsidized flood insurance, you can’t build a …
The Case for Supporting Nonbank Mortgage Servicers
National Mortgage News, Apr. 8, 2020–Jon Van Gorp (subscription)The author says without a dedicated government-funded servicing advance facility that is developed quickly to address the immediate need, there is a …
It Just Got Harder to Get, Refinance a Mortgage: Who Faces More Difficulty
Detroit Free Press, Apr. 9, 2020–Susan TomporRecord spikes in jobless claims are creating major roadblocks for consumers who thought that they’d like to save money by snagging a lower mortgage …
Calabria Does Not Expect Widespread Delinquencies Due to Coronavirus
HousingWire, Apr. 8, 2020–Ben LaneWhile some in the housing industry are expecting mortgage delinquencies to climb to 20% or more due to the impact of the coronavirus, Federal Housing Finance …
Fed Minutes Reveal Alarm Over Coronavirus Disruptions to Economy, Market
Wall Street Journal, Apr. 8, 2020–Nick TImiraos (subscription)Federal Reserve officials reacted with growing alarm to market disruptions prompted by the spreading coronavirus pandemic in March, prompting them to cut interest …
Mortgage Industry Fires Back at Regulator Who Refuses to Help Servicers Getting Slammed by Payment Delay Request
CNBC, Apr. 8, 2020–Diana OlickLoan servicers are being slammed by requests from homeowners to delay their monthly mortgage payments as the coronavirus forces millions of people out of work. Yet …
Mr. Cooper Places 86,000 Customers on Fobearance Plans
HousingWire, Apr. 7, 2020–Brena NathMr. Cooper released its initial numbers on how it’s serving its customers during the COVID-19 pandemic, announcing it has placed more than 86,000 customers on forbearance …