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Stock impact report

Private-Mortgage Market Nears Unraveling, Undoing Decade of Work [Yahoo! Finance News]

MetLife, Inc. (MET) 
Last metlife, inc. earnings: 2/5 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investor.metlife.com
Bloomberg) -- The nascent market for private U.S. mortgages is teetering on the brink of collapse as the coronavirus crisis imperils years of work to lessen the government’s role in home lending.Several firms that issue mortgage bonds without federal guarantees have laid off most of their staffs and stopped doing business as the economy grinds to a halt. And the once-burgeoning market for securities that shift risk from government-backed agencies to private investors has also stalled, with some traders saying they’ve had trouble even getting prices.Unlike in the 2008 financial crisis, mortgages are collateral damage rather than the central cause of economic distress. But the pandemic has increased the housing market’s reliance on U.S. support and threatens to have lasting ramifications on efforts to protect taxpayers from the risk of a housing downturn. The upheaval calls into question how much Washington can truly back away from a sector that amounts to a fifth of the nation’s econom Show less Read more
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