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. […]
Federal Reserve Goes On A “Sex & The City” Style Shopping Spree For Mortgage Debt The Federal Reserve pledged on Monday to buy unlimited amounts of Treasuries and mortgage-backed bonds to stabilize the mortgage markets. The Fed hopes it will have the same effect as when it rescued the economy in 2008. The Federal Reserve set a […]
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 […]
Mortgage Servicers Expect Annihilation Due To The Coronavirus And Are Lining Up For Trump Bailouts Mortgage servicers are already waiting in line for their corporate welfare checks from the Trump administration. The Mortgage Bankers Association said deferred and late mortgage payments because of the coronavirus could trigger a financial nightmare for mortgage servicers. Fannie Mae […]
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 […]
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