Bloomberg, Mar. 23, 2020–Sridhar Natarajan, Claire Boston, Heather PerlbergThe rush to unload mortgage-backed securities signals that a credit meltdown that began with corporate bonds is spreading to other corners of …
Category: Top National News
Is the 2020 Toolkit for Helping Homeowners in Crisis Better Than What We Had in 2008?
Urban Institute, Mar. 23, 2020–Karan Kaul, Laurie GoodmanThe 2008 Great Recession exposed major flaws in the US mortgage servicing infrastructure. Many of these flaws have been addressed to create a …
Potential Wave of Mortgage Delinquencies Could Bankrupt the Payment System
CNBC, Mar. 23, 2020–Diana OlickThe Mortgage Bankers Association estimates about a quarter of all borrowers request and are granted loan forbearance for six months or longer, demands on servicers could …
HUD Secretary Ben Carson Urges Struggling Mortgage Borrowers To Seek Assistance
Forbes, Mar. 21, 2020–Dima WilliamsSecretary Ben Carson urged mortgage borrowers struggling financially due to the coronavirus to contact their loan providers and seek forbearance. Carson spoke Saturday during the White …
Did Non-QM Just Disappear from the Market?
HousingWire, Mar. 22, 2020–Sarah WheelerThe latest victim of the coronavirus might be non-QM lending. After seeing an increase in activity over the last two years, a number of wholesale lenders …
Coronavirus Recession Looms, Its Course ‘Unrecognizable’
New York Times, Mar. 21, 2020–Nelson D. Schwartz The American economy is facing a plunge into uncharted waters. Economists say there is little doubt that the nation is headed into …
Servicing Your Loan Can Be Tough
UExpress, Mar. 20, 2020–Lew SichelmanThere are at least three things in life you cannot choose: your parents, your neighbors and the company that administers your mortgage.https://www.uexpress.com/housing-scene/2020/3/20/servicing-your-loan-can-be-tough
Trump: Federal Student Loan Borrowers Can Suspend Payments for 60 Days
Politico, Mar. 20, 2020President Donald Trump announced Friday that the Education Department would not enforce federal rules on standardized testing for K-12 schools and would allow federal student loan borrowers …
Relief for Underwater Homeowners Will Be Different This Time, Lenders Say
American Banker, Mar. 19, 2020–Kevin Wack (subscription)The mortgage industry is insisting that this time will be different. Borrowers who can’t afford their monthly payments as a result of the COVID-19 …
Homeowners are Getting Federal Mortgage Relief, But Renters Aren’t So Lucky
Washington Post, Mar. 20, 2020–Renae Merle Mortgage servicers have already begun to see an uptick in borrowers seeking help and could quickly become swamped, said Bob Broeksmit, president of the …