A report from Realtor.com. "'The biggest initial coronavirus hit will be felt in the tourism and hospitality industries,' says realtor.com Chief Economist Danielle Hale. These are the same places where folks tend to buy vacation homes. 'Second-home markets tend to…
A report from Housing Wire. "It looks like borrowers who don’t fit neatly into Fannie Mae and Freddie Mac’s lending criteria could soon be running out of options if they want to buy a house. Over the last week, many…
A report from the Los Angeles Times in California. "At the start of 2020, the Southern California housing market was heating up, juiced by cheap money and a growing economy. Then a global pandemic hit. Deals are now falling out…
It's Friday desk clearing time for this blogger. "Mortgage firms are bracing for a wave of missed payments starting April 1 as borrowers lose their jobs as a result of the coronavirus epidemic. The firms, which collect money from borrowers…
A report from Bloomberg. "As America heads into a deep recession, the $11 trillion residential-mortgage market is in crisis. Investors who buy home loans packaged into bonds are dumping even those with federal backing because of panic that millions might…
A report from the Wall Street Journal. "A mortgage-lending company sponsored by private-equity giant TPG is delaying dividend payments and said it is in danger of running out of money if market turmoil continues, a fresh sign that nonbank lenders…
Two reports from the Wall Street Journal. "Several investment funds focused on mortgage investments are examining assets sales, and at least one is struggling to meet margin calls from lenders. Over the weekend, hedge funds, insurance companies and private-equity firms…
A report from Bloomberg. "A crisis in credit markets deepened over the weekend and into Monday as a cluster of funds that own mortgage bonds sought to sell billions in assets to meet investor redemptions, sparking pleas for government intervention.…
A report from Fortune Magazine. "Zillow has temporarily stopped its home buying operations in 24 states due to the outbreak. 'Given the concerns for public safety and rapid developments by governments that restrict local real estate activities, we determined it…
A report from the Tampa Bay Times in Florida. "The current crisis was not caused by pre-existing economic weakness. 'There was little evidence of an approaching downturn as recently as a month or two ago,' said Gary Burtless, an economist…