National Mortgage News, Apr. 7, 2020–Kate Berry (subscription)Sens. Sherrod Brown, D-Ohio, Sen. Elizabeth Warren, D-Mass., and three other members of the Senate Banking Committee urged the director of the Consumer …
Category: Top National News
Sharks Circle as Mortgage Lenders Shed Portfolios at Steep Discounts
The Real Deal (N.Y.), Apr. 7Opportunistic funds including Elliot Management and Appaloosa Management are reportedly in talks to buy discounted assets from troubled real estate investment trusts, according to Bloomberg. …
Requests to Delay Mortgage Payments Jump Nearly 2,000% as Borrowers Seek Relief During Coronavirus
CNBC, Apr. 7, 2020–Diana OlickRequests to delay mortgage payments grew by 1,270% between the week of March 2 and the week of March 16, and another 1,896% between the week …
Calabria: No Servicer Liquidity Facility Coming, But GSEs May Pull Servicing from Struggling Companies
HousingWire, Apr. 7, 2020–Ben LaneDespite growing calls from the housing industry for a federally backed liquidity facility for servicers to address the increase in forbearance due to the coronavirus, Federal …
Mall Owners Worried over Mortgage Payments as Retailers Skip Rent
CNBC, Apr. 6, 2020–Lauren ThomasRetailers are worried about paying rent because of the damage from the coronavirus pandemic. And that has mall owners increasingly worried about meeting their own obligations.https://www.cnbc.com/2020/04/06/mall-owners-worried-over-mortgage-payments-as-retailers-skip-rent.html
Coronavirus Mortgage Bailout: ‘There’s Going to be Complete Chaos,’ Says Industry CEO
CNBC, Apr. 6, 2020–Diana OlickA broad coalition of mortgage and finance industry leaders on Saturday sent a plea to federal regulators, asking for desperately needed cash to keep the mortgage …
Servicers to Feds: Stopgap Plans Not Enough Against Coronavirus
National Mortgage News, Apr. 6, 2020–Kate Berry (subscription)Ginnie Mae and the FHA provided temporary liquidity relief for mortgage servicers bracing for higher delinquencies, but the industry continues to pressure Treasury …
PennyMac Warns Mortgage Originators that Forbearance Buybacks Could be Coming
HousingWire, Apr. 6, 2020–Ben LaneLate last week, PennyMac, which grew last year into the largest mortgage aggregator in the country, told its correspondent originators that it will not buy any …
Coronavirus Could Trigger Mortgage Market Crash as First FDIC-Insured Bank Falls
CCN, Apr. 5, 2020–Joseph YoungWest Virginia’s First State Bank became the first bank to fall after the coronavirus pandemic rapidly swept across the United States. The potential closure of more …
Jumbo Mortgage Market Disappearing as Lenders Shun Risk
Bankrate.com, Apr. 3, 2020–Ellen ChangThe jumbo loan market is shrinking as some mortgage lenders are facing a liquidity crunch. It’s the perfect storm for lenders as millions of homeowners are …