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 …
Servicing Newslinks Archive
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.
Momentum Builds as 2nd FHLB Accepts eNotes
Last month, the Federal Home Loan Bank of Des Moines became the first of the 11-member FHLB system to announce it would accept residential mortgage electronic promissory notes—eNotes—as collateral. Now, a second FHLB has jumped on the eNotes bandwagon.
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“The job market has cooled somewhat over the past few weeks, with layoffs increasing and other indications that the economic rebound may be losing some steam because of the rising COVID-19 cases throughout the country.”
–MBA Senior Vice President and Chief Economist Mike Fratantoni.
MBA: 2019 Multifamily Lending Up 7% to Record High
Fueled by strong market fundamentals and low interest rates, 2,589 different multifamily lenders provided $364.4 billion in new mortgages in 2019 for apartment buildings with five or more units, according to the Mortgage Bankers Association’s 2019 Multifamily Lending Report.
5 Mortgage-Related Policies That are in Flux Due to the Coronavirus
National Mortgage News, July 29, 2020–Bonnie Sinnock (subscription)From guidelines for remote appraisal alternatives to the ways that forbearance affects borrowers’ ability to get new loans, here are five examples of …
Is the U.S. Mortgage Industry About to Fall Off a Cliff?
Mortgage Professional America, July 29, 2020–Libby McDonaldForbearance programs permitting temporary suspension of Americans’ monthly mortgage payments have been a godsend to the more than 4 million borrowers who have made …
New Legislation Would Aid Cash-Strapped Commercial Property Owners
Wall Street Journal, July 29, 2020–Ben Eisen (subscription)The bill, expected Wednesday, would set up a government-backed funding vehicle businesses could tap to stay current on their mortgages. It is meant …
Will GOP Plan to Slash Unemployment Trigger Wave of Loan Defaults?
American Banker, July 28, 2020–Neil Haggerty, Hannah Lang (subscription)“It is something we’ve been concerned about,” said Bill Kilmer, senior vice president for legislative and political affairs at the Mortgage Bankers …