Wall Street Journal, Mar. 31, 2020–Esther Fung (subscription)The largest mall owner in the U.S., which has around 200 malls, open-air centers and shopping outlets, has closed all its U.S. properties …
Category: Top National News
Does FSOC Have a Role to Play in Coronavirus Response?
American Banker, Mar. 31, 2020–Hannah Lang (subscription)After budget cuts and a strategic transition, the interagency body conceived by Dodd-Frank to identify systemic threats has largely been silent as the pandemic …
In the Coronavirus Economy, the Only Safe Mortgage Is a Government-Backed One
Wall Street Journal, Apr. 1, 2020–Ben Eisen (subscription)The Federal Reserve rescued the mortgage market. Part of it. The central bank’s decision to buy a nearly unlimited supply of government-backed mortgages …
How Does It Work if You Skip Mortgage Payments?
Dallas Morning News, Mar. 31, 2020–Steve Brown“The definition of forbearance is delay — not forgive,” said Robert Broeksmit, president and CEO of the Mortgage Bankers Association. “The idea there is …
CFPB Urged to Take More Active Role in Coronavirus Response
American Banker, Mar. 20, 2020–Kate Berry (subscription)The agency has relaxed some reporting requirements and joined other regulators in encouraging banks to help borrowers, but pressure is building on the bureau …
Did the Fed Just Accidentally Trigger a Housing Market Crash?
CCN, Mar. 30, 2020–Ben BrownBy flooding the market with money, the Federal Reserve just accidentally pushed mortgage bankers to the brink of bankruptcy. The Mortgage Bankers Association warned of ‘large …
Coronavirus Poses New Threat to Mortgage Industry
The Hill, Mar. 31, 2020–Sylvan Lane“There have been plenty of natural disasters where this system performs well,” said Mike Fratantoni, chief economist at the Mortgage Bankers Association. “But it wasn’t …
CFPB Urged to Take More Active Role in Coronavirus Response
American Banker, Mar. 20, 2020–Kate Berry (subscription)The agency has relaxed some reporting requirements and joined other regulators in encouraging banks to help borrowers, but pressure is building on the bureau …
FHA, VA Join Fannie, Freddie in Relaxing Some Standards
HousingWire, Mar. 30, 2020–Ben LaneFHA and VA both announced late Friday that would allow for appraisal and income verification alternatives as appraising homes and verifying employment are more difficult right …
The Fed Transformed: Jay Powell Leads Central Bank into Uncharted Waters
Wall Street Journal, Mar. 30, 2020–Nick Timiraos (subscription)To meet the dislocation the coronavirus pandemic unleashed on the economy, Federal Reserve Chairman Jerome Powell has mobilized the central bank to move …