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Bankruptcy Is a 'Gift' for States, Former Illinois Pension Chair Says

  • Bankruptcy Is a 'Gift' for States, Former Illinois Pension Chair Says Bankruptcy Is a 'Gift' for States, Former Illinois Pension Chair Says 7:00
12:11 p.m. Sept. 22, 2020 - By Andrew Keshner
As Ginsburg’s death reshapes the future of the Supreme Court — here are 4 cases this fall with money implications for families and companies Issues on the docket include copyright law, regulations tied to prescriptions and unsolicited text messagesIssues on the docket include copyright law, regulations tied to prescriptions and unsolicited text messages.
1:55 a.m. Sept. 22, 2020 - By Jacob Passy
The number of Americans skipping mortgage payments drops to lowest level since April — but some borrowers face bigger challenges A slower recovery in the job market could create problems for the mortgage industryA slower recovery in the job market could create problems for the mortgage industry.
2:20 p.m. Sept. 21, 2020 - By Keith Jurow
The COVID-19 lockdown is squeezing real estate from all sides and threatens to burst the housing and mortgage bubble Sooner or later, homeowners in this frothy U.S. housing market must pay the piperSooner or later, homeowners in this frothy U.S. housing market must pay the piper, writes Keith Jurow.
10:24 a.m. Sept. 21, 2020 - By Joy Wiltermuth
Wall Street home loans aren't looking great in this crisisDelinquencies on home loans made by Wall Street lenders to borrowers with spotty credit aren't performing so well during the pandemic.
2:33 a.m. Sept. 8, 2020 - By Jacob Passy
Renters in U.S. cannot be evicted through the end of the year due to coronavirus, CDC order states Unpublished order provides declaration for renters to sign stating they are unable to pay rent, have sought government assistanceTo be eligible for protection, renters will need to provide proof of their inability to pay rent because of the pandemic.
8:12 a.m. Sept. 5, 2020 - By Levi Sumagaysay
California eviction moratorium is 'a real nightmare' for renters to understand — here's what you need to knowGovernor and experts say state's ban on evictions is stronger than and supersedes federal order, which means estimated 5.4 million renters in state must plan to pay at least a quarter of their rent to avoid potential eviction at the end of January.
6:48 a.m. Sept. 5, 2020 - By Joy Wiltermuth
What landlords are saying about the CDC's eviction banInitial pandemic stimulus provided a "half-built bridge, over a ravine, but we don't know where the ravine ends," says one landlord.
6:13 a.m. Sept. 2, 2020 - Barrons.com
Rocket Reports Earnings Today. What to Expect. Since its public offering, Rocket’s shares have risen 38%, helped by the company’s preliminary second-quarter earnings released in mid-August as part of financial disclosures to bondholders.
6:26 a.m. Aug. 27, 2020 - By Jacob Passy
Housing regulator extends Fannie Mae and Freddie Mac's foreclosure and eviction moratoriumThe Federal Housing Finance Agency has extended the foreclosure and eviction moratorium for homes with mortgages backed by Fannie Mae and Freddie Mac . The moratorium is now in effect until December 31, 2020 - originally they were supposed to expire at the end of August. The foreclosure moratorium only applies to single-family mortgages only, while REO eviction moratorium applies to properties that are acquired by Fannie or Freddie through foreclosure or deed-in-lieu of foreclosure transactions. The moratorium is expected to cost the two government-sponsored enterprises between $1.1 billion and $1.7 billion, and it protects more than 28 million homeowners across the country.
5:13 a.m. Aug. 26, 2020 - By Jacob Passy
Fannie Mae, Freddie Mac will delay controversial refinance fee The ‘adverse market’ fee is being implemented to cover $6 billion in projected losses caused by COVID-19The ‘adverse market’ fee is being implemented to cover $6 billion in projected losses caused by COVID-19.
10:57 p.m. Aug. 23, 2020 - By Jacob Passy
‘The housing market is on a sugar high’: Home sales are soaring, but is it a good time to buy? Here’s what the experts say The domestic property market is fueled by a government stimulus and a COVID-fueled rush to low density housing, economists sayThe domestic property market is fueled by a government stimulus and a COVID-fueled rush to low density housing, economists say.
6:38 a.m. Aug. 20, 2020 - By Jacob Passy
Mortgage rates are going back up — just as home prices begin to skyrocket Interest rates on home loans are still extremely low by historical standards, and that’s helping to create fierce competition in the real-estate marketInterest rates on home loans are still extremely low by historical standards, and that’s helping to create fierce competition in the real-estate market.
2:37 a.m. Aug. 16, 2020 - By Jacob Passy
Refinancing your mortgage will cost more thanks to a new fee from Fannie Mae and Freddie Mac Fannie Mae and Freddie Mac are rolling out a new ‘adverse market fee’ in light of the coronavirus pandemic. Critics of the move say it will cost homeowners thousands of dollarsFannie Mae and Freddie Mac are rolling out a new ‘adverse market fee’ in light of the coronavirus pandemic. Critics of the move say it will cost homeowners thousands of dollars.
1:46 p.m. Aug. 14, 2020 - By Jacob Passy
How the U.S. can emulate South Korea, Singapore and New Zealand to control the coronavirus and refinancing your mortgage will cost more thanks to a new fee Friday's top personal finance stories Friday's top personal finance storiesFriday's top personal finance stories
4:01 a.m. Aug. 14, 2020 - Barrons.com
Refinancing Your Mortgage Just Got More Expensive The Mortgage Bankers Association estimated that the average refinancer would pay $1,400 more than they would have otherwise as a result of the fee.
9:19 a.m. Aug. 10, 2020 - By Jacob Passy
Calculating America’s eviction crisis: Up to 40 million people are at risk of being kicked out of their homes The coronavirus pandemic has heightened deep-seated inequality in the nation’s housing marketThe coronavirus pandemic has heightened deep-seated inequality in the nation’s housing market.
9:27 a.m. Aug. 9, 2020 - By Jacob Passy
Landlords must notify tenants about eviction proceedings in multi-family buildings, housing regulator says The Federal Housing Finance Agency is also improving online tools where tenants can see whether they’re eligible for protectionsThe Federal Housing Finance Agency is also improving online tools where tenants can see whether they’re eligible for protections.
1:37 p.m. Aug. 8, 2020 - By Jacob Passy
Americans’ household debt fell for the first time since 2014 — but that doesn’t mean people are paying off their loans The pandemic-fueled economic downturn hasn’t led to Americans going into default on their debts yetThe pandemic-fueled economic downturn hasn’t led to Americans going into default on their debts yet.
8:23 a.m. Aug. 8, 2020 - By Jacob Passy
The number of Americans skipping mortgage payments is falling — except among these borrowers Forbearance plans allow mortgage borrowers to make reduced payments or skip monthly paymentsForbearance plans allow mortgage borrowers to make reduced payments or skip monthly payments.
6:23 p.m. Aug. 5, 2020 - By Jacob Passy
Quicken Loans is going public: 5 things to know about the mortgage lender Quicken has been the largest mortgage lender in the U.S. since 2018Quicken has been the largest mortgage lender in the U.S. since 2018.
1:01 a.m. July 28, 2020 - By Holden Lewis
Mortgage and real estate trends to watch for in the rest of 2020 Rates will probably go even lower, but don’t expect to find many homes on the marketIn a world altered by the pandemic, here’s what home buyers and sellers can expect in the second half of the year.
8:34 a.m. July 26, 2020 - By Jacob Passy
America is facing an eviction crisis as moratoriums expire: ‘This is a potential catastrophe’ Democratic lawmakers have proposed legislation to extend and to expand the federal moratorium on evictions, which is set to expire in just a few daysDemocratic lawmakers have proposed legislation to extend and to expand the federal moratorium on evictions, which is set to expire in just a few days.
10:51 a.m. July 25, 2020 - By Keith Jurow
The feared jumbo mortgage debacle is here — thanks to the coronavirus — and ready to pound the housing market COVID-19 pandemic is squeezing borrowers’ ability to stay in their homesCOVID-19 pandemic is squeezing borrowers’ ability to stay in their homes, writes Keith Jurow.
11:45 a.m. July 23, 2020 - Barrons.com
Mortgage REITs Carry Double-Digit Yields — and the Risks That Come With Such Yields These companies use leverage to boost their returns, and some of them cut dividends in the wake of the pandemic.
1:30 a.m. July 23, 2020 - Barrons.com
How Are Mortgage Lenders Helping Borrowers Who Are Out of Work? Homeowners struggling because of Covid-19 can ask their financial institutions for a six-month break from making mortgage payments.
4:28 a.m. July 22, 2020 - By Tomi Kilgore
Fannie Mae stock could be worth zero, Wedbush analyst saysShares of Fannie Mae were indicated down nearly 2% in premarket trading, after Wedbush analyst Henry Coffey recommended investors sell, saying the stock could fall to zero. Coffey started coverage of the government sponsored enterprise providing liquidity to the residential mortgage market at an underperform rating, and $0 stock price target. "While we see a relatively high level of value embedded in the company's underlying enterprise value and ample room for a substantial capital raise, the dilution to existing holders of the public shares in any recapitalization of Fannie Mae is likely to be substantial, and arguably reduce their value to essentially zero," Coffey wrote in a note to clients. The stock, which closed Tuesday at $2.09, has dropped 33.0% year to date through Tuesday, while the S&P 500 has gained 0.8%.
Fannie Mae started at underperform with zero stock price target at Wedbush
3:47 a.m. July 22, 2020
1:16 p.m. July 16, 2020 - Barrons.com
'We Are in Truly New Territory.' Mortgage Rates Drop Below 3% for the First Time. If trends continue, we could continue to see rates fall to new lows, one expert tells Barron's.
1:07 p.m. July 14, 2020 - By Jacob Passy
FSOC to evaluate risks posed by the secondary mortgage marketThe Financial Stability Oversight Council that it will begin a review of the secondary mortgage market. The evaluation will determine what risks activities in the secondary mortgage market pose to the stability of the broader financial system. Regulators will also work to see what approaches best mitigate those risks. The announcement received the support of the Federal Housing Finance Agency, which regulates mortgage giants Fannie Mae and Freddie Mac . "As demonstrated by the 2008 financial crisis and again by COVID-19, Fannie Mae and Freddie Mac must be well capitalized in order to support the mortgage market during a stressed environment," FHFA Director Mark Calabria said in response to the news.
9:27 a.m. July 13, 2020 - By Greg Robb
Fed’s Williams says shift away from scandal-plagued, interest-rate benchmark in 2 years remains on track despite coronavirus SOFR is slated to replace Libor by 2022New York Fed President John Williams emphasizes that officials will follow through with plans to discontinue a embattled benchmark for rates in financial markets at the start of 2022, despite all of the focus by financial firms on the coronavirus pandemic.
Fannie Mae stock price target raised to $2 from $1 at B. Riley FBR
4:33 a.m. July 13, 2020
Fannie Mae upgraded to neutral from sell at B. Riley FBR
4:32 a.m. July 13, 2020
11:28 a.m. July 8, 2020 - Associated Press
Renters face financial cliff ahead as eviction moratorium ends July 25 As a jump in virus cases in many states adds more uncertainty to the job market, many who rent are facing a precarious futureAmericans who rent have largely been able to survive the initial months of the coronavirus pandemic helped by unemployment and federal relief checks, but the extra $600 in unemployment benefits ceases at the end of July and local eviction moratoriums are expiring.
5:10 a.m. June 26, 2020 - By Jacob Passy
Mortgage rates keep falling to record lows — so is now a good time to refinance? Homeowners stand to save money by refinancing, but some factors may make getting a new loan less worthwhileHomeowners stand to save money by refinancing, but some factors may make getting a new loan less worthwhile.
6:25 a.m. June 24, 2020 - By Jacob Passy
Home prices continued to rise even as the coronavirus pandemic swept across America, FHFA says ‘It’s likely housing will feel the broader economy’s downturn eventually,’ one economist says‘It’s likely housing will feel the broader economy’s downturn eventually,’ one economist says.
12:53 p.m. June 22, 2020 - By Jacob Passy
The number of Americans skipping mortgage payments drops for the first time since March A smaller share of home loans are now in forbearance, but that could change if government assistance dries upA smaller share of home loans are now in forbearance, but that could change if government assistance dries up.
1:57 p.m. June 15, 2020 - By Meera Jagannathan
Some Americans are more likely to socially distance and wear face masks than others — here’s why, and Disney fans say a popular ride is racist and should be overhauled Monday’s top personal finance stories Monday’s top personal finance storiesMonday’s top personal finance stories
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