Real estate, long the favorite way to invest and for many a path to wealth, fell to second place this year as more Americans take a gamble on the stock market, according to a new report from Bankrate.com, New York.
Servicing Newslinks Archive
One-Third of U.S. Restaurants Face Permanent Closure This Year
Bloomberg, July 31, 2020–Anita Sharpe, Nic QueroloA new forecast projects that one in three U.S. restaurants may close permanently this year, showing how the Covid-19 pandemic is decimating an industry …
COVID-19 Shows Minimal Effect On Rents, Vacancies
National Mortgage Professional, July 31, 2020–Keith GriffinRents will drop and vacancies will increase due to the economic effects of the COVID-19 pandemic. Neither change, though, will be significant according to …
Wells Fargo Sold Assets to Stay Under Fed Asset Cap as Markets Lurched
Wall Street Journal, July 31, 2020–Julie Steinberg, Ben Eisen (subscription)Wells Fargo & Co. unloaded hundreds of millions of dollars of assets during this spring’s market collapse to stay out of …
Fannie, Freddie to Face Bank-Like Liquidity Standards Starting Sept. 1
American Banker, July 31, 2020–Hannah Lang (subscription)The mortgage giants will have to meet benchmarks for covering cash flow needs during stressed periods.https://www.americanbanker.com/news/fannie-freddie-to-face-bank-like-liquidity-standards-starting-sept-1
Office Sector Woes Continue
Analysts say the pandemic shutdown and millions of job layoffs are weighing heavily on the office sector.
Sens. Warren, Schatz Press Wells Fargo on Forbearance Practices
National Mortgage News, July 30, 2020–Neil Haggerty (subscription)Two Senate Democrats are seeking details from Wells Fargo about news reports that the bank has been placing borrowers into mortgage forbearance programs …
Customers Not Finding Answers They Need Online, J.D. Power Finds
National Mortgage Professional, July 30, 2020–Keith GriffinMortgage servicers have been put to the test during the COVID-19 pandemic as a combination of historically low interest rates, record high unemployment and …
MBA, Trade Groups Ask Congress to Extend Troubled Debt Restructurings Relief Period
The Mortgage Bankers Association and a half-dozen other industry trade groups this week asked Congress to extend the “covered period” under the Troubled Debt Restructurings relief under section 4013 of …
The CMBS Market During the Pandemic: A Conversation with Moody’s Investors Service
MBA NewsLink interviewed Keith Banhazl, Victor Calanog and Nick Levidy from Moody’s, New York.