After suffering the greatest performance declines in U.S. history, the nation’s hotels will likely benefit from a relatively rapid economic turnaround in 2021 and 2022, said CBRE Hotels, Atlanta.
Category: News and Trends
Richard Ferguson: Preserving Down Payment Options in a Disruptive Market
There is no downplaying the destruction the COVID-19 pandemic has had on our economy and the financial lives of millions of Americans. But it is also threatening the up-and-coming generation of home buyers, particularly minorities.
Sen. Fischer Reintroduces Bill to Create CFPB Commission; MBA, Trade Groups Send Letter of Support
Sen. Deb Fischer, R-Neb., reintroduced legislation this week that would change the structure of the Consumer Financial Protection Bureau from a single director to a bipartisan commission of five individuals.
FHFA, FHA Extend Foreclosure/Eviction Moratorium to Aug. 31
The Federal Housing Finance Agency and HUD announced Fannie Mae, Freddie Mac and FHA will extend their single-family moratorium on foreclosures and evictions until at least August 31.
MBA: 1QCommercial, Multifamily Mortgage Delinquencies Remain Low
Commercial and multifamily mortgage delinquencies remained low at the end of the first quarter, the Mortgage Bankers Association said in its first quarter Commercial/Multifamily Delinquency Report.
Veros: Michigan Dam Disaster Cost More than $3.6 Billion
The May 20 dam breaks caused unprecedented damage and flooding in four Michigan counties. Throw in the coronavirus pandemic and you have a disaster unique in scope—and we’re only halfway through 2020.
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“Half of the servicers in our sample saw the forbearance share decline for at least one investor category. Although there continues to be layoffs, the job market does appear to be improving, and this is likely leading to many borrowers in forbearance deciding to opt out of their plan.”
–Mike Fratantoni, MBA Senior Vice President and Chief Economist.
FHFA to Re-Propose Updated Minimum Financial Eligibility Requirements for GSE Sellers/Servicers
The Federal Housing Finance Agency, citing “recent market events,” announced it will re-propose updated minimum financial eligibility requirements for Fannie Mae and Freddie Mac Seller/Servicers.
MBA: Share of Mortgage Loans in Forbearance Levels Out at 8.55%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey said loans now in forbearance increased just slightly, to 8.55% of servicers’ portfolio volume as of June 7 compared to 8.53% the prior week. MBA now estimates 4.3 million homeowners are in forbearance plans.
April Sees ‘Historic’ Hotel Profitability Drop
U.S. hotel profitability metrics cratered during April, reported STR, Hendersonville, Tenn. During April, the sector saw total revenue per available room fall nearly 93 percent year-over-year and gross operating profit per available room fall 116.9 percent to a $17.98 loss per room.