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 …
Category: Top National News
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 …
Thanks To COVID-19, FHA Mortgage Lending Gets Stricter
Forbes, Apr. 3, 2020–Aly J. YaleThe COVID-19 pandemic has forced lenders’ hands when it comes to FICO score minimums. As more and more Americans lose their jobs or see reduced …
Struggling Borrowers Want To Pause Their Mortgage Payments. It Hasn’t Been Easy
Wall Street Journal, Apr. 3, 2020–Orla McCaffrey, Andrew Ackerman (subscription)Struggling homeowners are flooding their mortgage companies with requests for help as the coronavirus pandemic wrecks the economy. Many are having …
How to Suspend Your Mortgage Payments During Coronavirus Turmoil
Wall Street Journal, Apr. 3, 2020–Julia Carpenter, Orla McCaffrey (subscription)“I always stress: if you’re not affected and able to make your payments, please keep doing so,” said Bob Broeksmit, chief …