Four More American Banks To Follow BofA’s Lead By Offering Relief To Homeowners Affected By The Coronavirus Four more American banks are offering to defer mortgage payments for 90 days due to the coronavirus crisis. The four banks include JPMorgan Chase, Wells Fargo, Citibank, and US Bank. The four American banks follow Bank of America. […]
Billionaire Real Estate Investor Says US Commercial Mortgage Market On The Brink Of Collapse Because Of COVID-19 Billionaire Tom Barrack says the US commercial mortgage market is on the brink of collapse because of the coronavirus crisis. The CEO of Colony Capital said the economic ‘domino effect’ could dwarf the Great Depression. Barrack also said […]
New York State Orders Mortgage Servicers To Give 90-Day COVID-19 Mortgage Relief To New York Homeowners Governor Andrew Cuomo and New York State orders lenders and mortgage servicers to step up their mortgage relief efforts. The New York Department of Financial Services demanded servicers let certain residents skip their mortgage payments for 90 days. Cuomo […]
The 60-Day Trump Foreclosure Moratorium Does Not Apply To All Mortgages. Non-GSE Loans And Non-FHA Loans Not Part Of The Moratorium The 60-Day Trump Foreclosure Moratorium that President Trump announced Wednesday applies to most but not all mortgages. President Trump announced HUD is suspending all foreclosures and evictions for 60 days. The HUD foreclosure and eviction […]
Mortgage Servicers Ignoring Demands From FHFA That They Offer Homeowners Coronavirus Mortgage Relief Are Mortgage servicers ignoring demands from FHFA Director Mark Calabria? Believe it or not, they are and the FHFA is not happy. Calabria along with Fannie Mae and Freddie Mac leadership was forced to notify mortgage servicers of their obligations to their […]
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