(Bloomberg) -- The Trump administration is considering a plan to allow homeowners whose income was cut by the coronavirus to delay mortgage payments. Still to be decided is a mechanism for borrowers to catch up.The government also will have to determine how to advance money to mortgage servicers so that investors in mortgage-backed securities get their guaranteed payments. “Tens of billions” in short-term financing may be needed, said Michael Fratantoni, chief economist at the Mortgage Bankers Association. Other real estate-related trade groups also are involved in the discussions.“This is so big,” Fratantoni said. “We’re thinking of the potential of several months of payments for a lot of homeowners.”The proposal could follow the model of previous forbearance programs after critical disasters, he said. Borrowers in areas hit by storms have been allowed to pause payments for a period of time. The White House has been in touch with mortgage lenders to discuss...
When the Trump Administration, a.k.a taxpayers, bails out U.S. airlines for $50 billion or more — it will happen, whether or not anyone uses the "b" word — many travelers will react with righteous indignation. They will say, how dare they? Or, they deserve to go out of business. These people will have a point. […]...
Seven million people living across Northern California, including Silicon Valley are being ordered to shelter in place in an effort to stop the coronavirus from spreading. Sam Liccardo, Mayor of San Jose, California joins Yahoo Finance’s The Final Round to break down the latest....
Hopes for the swift development of a vaccine for the coronavirus got a boost on Monday.BioNTech (BNTX) announced that it will begin a global clinical development program called Project Lightspeed, for its COVID-19 mRNA-based vaccine, BNT162, in late April 2020. Fortunately, BioNTech's coronavirus vaccine program also got the hand it needs. The company has struck a strategic clinical development and commercialization deal with biotech Fosun Pharma. The China-based firm will retain the vaccine’s commercialization rights in China, while BioNTech will keep the rights for the rest of the world. The company will receive a $50 million investment from Fosun, in return for a holding of 1,580,777 shares in BioNtech (implying a price of $31.6 per share). On top of the welcome development, BioNTech also disclosed that it is currently in advanced talks with Pfizer concerning further development of the Vaccine outside China. Deal terms were not disclosed.In reaction, BioNTech shares skyrocketed...
The oil price crash continued on Tuesday morning as Saudi Arabia announced plans to boost oil exports to record levels and Trump confirmed coronavirus dangers...
It is the North American Trucking Industry that will literally carry this country, Canada and Mexico through the COVID-19 outbreak, says Jack Roberts in his blog. ...