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Real estate investor Tom Barrack said predicted a “domino effect” of catastrophic economic consequences if banks and government don’t take prompt action to keep commercial mortgage borrowers from defaulting.

The Federal Housing Finance Agency authorized the government-sponsored enterprises to lend additional support to the mortgage-backed securities market and temporarily allow some flexibility in lending requirements to address coronavirus-related concerns.

The attack knocked out core and mobile banking systems at several U.S. banks, and Finastra is working to get them up and running.

Al Anderson, CPA, is the president and founder of Accountability Plus LLC, and Corey Schmidt, CPA, is manager of audit innovation.

While the mortgage market began the year healthy, lenders and borrowers need to prepare for the impacts of the coming coronavirus recession.

The rush to unload mortgage-backed securities signals that a credit meltdown that began with corporate bonds is spreading to other corners of the market.

Nancy Ryerson is a healthcare writer with a passion for employee benefits and engagement. She is senior marketing manager at Fern Health, a digital health company that provides virtual musculoskeletal pain programs to employers.Prior to Fern, she covered patient centricity in clinical trials at Antidote and the patient experience at The Michael J. Fox Foundation. She holds a BA in journalism from New York University.

The coronavirus pandemic has created confusion, delays and uncertainty in housing projects around the Bay Area, despite a crushing need for new homes from an industry deemed essential to work through the regional lock-down.

Flagstar Bancorp, one of the nation's biggest lenders to mortgage providers, has stopped funding most new home loans without government backing.