Wall Street Journal, Mar. 30, 2020–Suzanne Kapner (subscription)The department store operator, which employs roughly 130,000 people, told staff on Monday that it would continue to pay health benefits and cover …
Category: Top National News
April Fool’s Day 2020: No Joke for Borrowers, Loan Servicers
Commercial Property Executive, March 30, 2020–Paul Fiorilla, Debra MorganThis year, April 1 is significant to the commercial real estate industry for decidedly unfunny reasons. On that date, the first commercial …
Coronavirus is Brewing a Mortgage Crisis
Curbed.com, Mar. 30, 2020–Jeff AndrewsA mortgage forbearance directive could decimate mortgage lending infrastructure if Congress and regulators don’t act fast.https://www.curbed.com/2020/3/27/21197434/mortgage-coronavirus-forbearance-crisis-coronavirus-servicers
Is the Coronavirus About to Wipe Out FHA Lending?
HousingWire, Mar. 27, 2020–Ben Lane Over the last week, many (if not all) of the biggest lenders specializing in lending to borrowers outside the Qualified Mortgage lending box paused their …
Is Mortgage Industry Equipped to Implement Washington’s Fobearance Plan?
American Banker, Mar. 29, 2020–Kevin Wack (subscription)Homeowners slammed by the COVID-19 pandemic were flooding the phone lines of their mortgage servicers even before details of a $2 trillion relief package …
Lawmakers Already Planning More Coronavirus Stimulus After $2T Package
The Hill, Mar. 27, 2020–Alexander BoltonLawmakers are already planning another round of legislation aimed at keeping companies flush with capital and millions of workers on payrolls amid the coronavirus pandemic, …
The Price Tag for Keeping 29 Million Families in Their Homes: $162 Billion
Urban Institute, Mar. 27, 2020–Karan Kaul, Laurie GoodmanWe’ve quantified the cost of housing assistance for both renters and homeowners and laid out scenarios that range in cost from $40.5 to …
Mortgage Industry Seeks Billions in Federal Help as Homeowners Stop Paying Their Loans
Washington Post, Mar. 27, 2020–Renae MerleWithout federal assistance, said Bob Broeksmit, President and CEO of the Mortgage Bankers Association, a large industry trade group, some mortgage servicers say they could …
The Price Tag for Keeping 29 Million Families in Their Homes: $162 Billion
Urban Institute, Mar. 27, 2020–Karan Kaul, Laurie GoodmanWe’ve quantified the cost of housing assistance for both renters and homeowners and laid out scenarios that range in cost from $40.5 to …
Mortgage Lender Angel Oak Axes 70% of Its Staff
Bloomberg, Mar. 27, 2020–Shahien Nasiripour, Claire Boston, Sridhar NatarajanOne of the largest U.S. mortgage firms catering to riskier borrowers slashed 70% of its workforce, signaling a deep slowdown in that …