NPR, March 25, 2020–Nathan RottCalifornia has reached a deal with several financial institutions, including four of the country’s five largest banks, to provide relief to homeowners affected by the coronavirus …
Category: Top National News
Risky U.S. Mortgages Face Reckoning in Market Spooked by Crisis
Bloomberg, Mar. 25, 2020–Prashant GopalAs America heads into a deep recession, the $11 trillion residential mortgage market is in crisis.https://www.bloomberg.com/news/features/2020-03-25/risky-u-s-mortgages-face-reckoning-in-market-spooked-by-crisis?srnd=premium
Homeowners Who Can’t Pay their Mortgages are Getting Help
Dallas Morning News, Mar. 25, 2020–Steve BrownMajor lenders are offering a moratorium on payments for borrowers who have lost their jobs or been furloughed from work. “If they have been …
Citi Could Be Stuck With Troubled Casino Loan as Mortgage Market Seizes Up
Wall Street Journal, MAr. 24, 2020–Peter Grant, Katherine Sayre (subscription)The market for issuing securities backed by commercial mortgages has frozen up, leaving some of the biggest names on Wall Street …
Servicers Need Liquidity to Make Advances During Forbearance
National Mortgage News, Mar. 24, 2020–Brad Finkelstein (subscription)The Federal Reserve Board should create a dedicated facility for mortgage servicers to access in order to make required advances, industry participants and …
‘It’s Going to Be a Liquidity Tsunami:” Mortgage Firms Gear up for Missed Payments
The Real Deal (New York), Mar. 24, 2020The Mortgage Bankers Association is now lobbying Congress and the Trump administration to set up a lending facility that can help make up …
The Housing Market Crash’s First Victims Won’t Be Homeowners
CCN.com, Mar. 24, 2020–W.E. MessamoreWhen the housing market crashes, it’ll be mortgage servicers and lenders that lose their shirts. Then the financial institutions that invest in bundled mortgage securities. Bob …
Let’s Not Call It A Bailout; Businesses Didn’t Cause the Coronavirus
NPR, Mar. 23, 2020–Pallavi Gogoi This time, the business community bears no responsibility for the coronavirus, the suddenness of its appearance and its spread. Companies, large and small, are not …
Mortgage Firms Brace for Wave of Missed Payments as Coronavirus Slams Homeowners
Wall Street Journal, Mar. 23, 2020–Andrew Ackerman (subscription)Mortgage companies are bracing for a severe cash crunch when Americans who lose jobs and income because of the coronavirus pandemic stop making …
Let’s Not Call It A Bailout; Businesses Didn’t Cause The Coronavirus
NPR, Mar. 23, 2020–Pallavi GogoiThis time, the business community bears no responsibility for the coronavirus, the suddenness of its appearance and its spread. Companies, large and small, are not to …