National Mortgage Professional, Apr. 2, 2020Moody’s has announced it changed its outlook on the non-bank mortgage sector from “Stable” to “Negative,” as liquidity issues continue to cause concern amid the …
Category: Top National News
Reverse Mortgage Lender Settles False Claims Act Charges for $2.5M
National Mortgage News, Apr. 2, 2020–Brad Finkelstein (subscription)Finance of America Reverse agreed to pay $2.5 million to settle allegations that a company it acquired violated the False Claims Act for …
Home Lenders Brace for Up to 15 Million U.S. Mortgage Defaults
Bloomberg, Apr. 2, 2020–Prashant Gopal, John GittelsohnMortgage lenders are preparing for the biggest wave of delinquencies in history. If the plan to buy time works, they may avert an even …
America’s Housing Market is Showing the First Signs of Trouble Because of the Coronavirus Pandemic
MarketWatch, Apr. 2, 2020–Jacob PassySellers appear to be holding off on listing their homes for sale in anticipation of less buyer traffic during the normally busy spring home-buying season. (MBA …
Mortgage Relief Is Only for Those Who’ve Lost Jobs, Mnuchin Says
Bloomberg, Apr. 1 2020–Elizabeth DexheimerTreasury Secretary Steven Mnuchin said only homeowners who have lost their jobs because of the coronavirus crisis will qualify for new government programs that let borrowers …
Coronavirus Effect Could be ‘Far Deeper than the Subprime Crisis,” Says Mortgage Company CEO
CNBC, Apr. 1, 2020–Diana Olick“If unemployment gets as deep as some people are predicting, if it gets to the mid-teens, then it could be far deeper than the subprime crisis,” …
These Mortgage Borrowers Will be the ‘First Canary in the Coal Mine’ for a Coronavirus-Fuel Crisis…
MarketWatch, Apr. 1, 2020–Jacob PassyDuring an interview with CNBC Wednesday, Federal Housing Finance Agency Director Mark Calabria warned that the U.S. mortgage industry could face significant strain in the form …
Mall Giant Simon Property Is Furloughing Workers
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 …
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 …