CNBC, Mar. 17, 2020–Diana OlickAs the growing economic impacts of the coronavirus roll through the nation, some of the nation’s largest mortgage lenders are already getting calls from borrowers, concerned …
Category: Top National News
Coronavirus Case Closes CFPB Offices
National Mortgage Professional, Mar. 17, 2020Employees at the Washington, D.C., and New York offices of the Consumer Financial Protection Bureau have been instructed not to report to their offices and …
Fed to Create Emergency Backstop for Commercial Debt Market
American Banker, Mar. 17, 2020–Hannah Lang (subscription)The Federal Reserve said it will use emergency authority to provide a liquidity backstop for commercial debt issuers as the coronavirus scare has raised …
Mortgage Lenders Consider Plan to Suspend Payments Amid Crisis
New York Times, Mar. 17, 2020–Emily Flitter, Matthew GoldsteinA broad group of bankers and other mortgage industry participants is working on a plan to offer a temporary pause in payments …
Coronavirus Testing Loan Servicers’ Mettle
American Banker, Mar. 17, 2020–Kevin Wack (subscription)The pandemic has upended staffing plans, sparked concerns about servicers’ capacity to handle the expected crush of missed payments, and even raised questions about …
HUD Criticized by 22 Attorneys General for Fair Housing Rules Rollback
National Mortgage Professional, Mar. 16, 2020California Attorney General Xavier Becerra and New York Attorney General Letitia James led a coalition of 22 attorneys general in filing a comment letter slamming …
Bank Regulators are Open for Business, But Not Business as Usual
American Banker, Mar. 16, 2020–Brendan Pedersen, Hannah Lang, Kate Berry (subscription)As everyday life grinds to a halt in response to the coronavirus outbreak, add the bank regulatory agencies to entities …
Mortgage Relief Options Are Available To Homeowners Affected By Coronavirus Safety Measures
Forbes, Mar. 13, 2020–Brenda RichardsonHomeowners who are facing a temporary hardship due to the coronavirus and heightened safety measures such as businesses shutting down have options to postpone mortgage payments, …
With Mortgage Rates at Record Lows, Banks and Brokers Scramble to Deal with Refinancing Rush
NBC News, Mar. 13, 2020–Leticia Miranda“Since last summer the refinance volume has been strong,” said Mike Fratantoni, chief economist with the Mortgage Bankers Association. “It was more of a low …
Calls Mount for U.S. to Halt Foreclosures, Evictions Amid Health Crisis
National Mortgage News, Mar. 15, 2020–Hannah Lang (subscription)As the novel coronavirus hammers the global economy, lawmakers and housing advocates are calling for a national moratorium on evictions and foreclosures while …