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 …
Category: Top National News
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 …
Mortgage Bond Sales Flood Market, Sparking Pleas for U.S. Help
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 …
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 …