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Results: 992 Articles found.
May 12, 2021 12:30 PM

Judge Tosses CDC Eviction Moratorium, Puts Ruling on Hold

A federal judge on May 5 threw out the Center for Disease Control and Prevention’s national moratorium on residential evictions, but agreed to hold the ruling while the government works to reverse the decision on appeal, Reuters reported. The judge said that a moratorium on evictions was not part of Congress’ intent to allow the CDC to help individuals during the coronavirus.

 
May 12, 2021 12:30 PM

Hospitality Sector Expected to Improve Over Summer as Part of Slow Recovery: Data

The occupancy rate for hotel properties remains flat, but the sector is expected to pick up once consumers start traveling this summer, according to analytics firms STR and Trepp, MBA NewsLink reported May 4. The number of hospitality properties delinquent on their loans or in some form of forbearance has declined, although the sector is expected to face a slow recovery.

 
May 05, 2021 12:30 PM

FHFA Low-income Refi Option Includes Appraisal Credit

The Federal Housing Finance Agency announced April 28 that Fannie Mae and Freddie Mac will implement a new refinance option for eligible low-income borrowers that is expected to save them $100-$250 per month. An appraisal credit of up to $500 from the lender will be included if a borrower doesn’t qualify for an appraisal waiver.

 
May 05, 2021 12:30 PM

CFPB Delays Required QM Rule Compliance Until Fall 2022

The Consumer Financial Protection Bureau announced April 27 that it will delay mandatory compliance of the General Qualified Mortgage final rule to Oct. 1, 2022. Compliance was set to begin this July, but the agency extended the deadline to help consumers who have been affected by the coronavirus pandemic.​

 
May 05, 2021 12:30 PM

Fed Keeps Interest Rates Near Zero, Bond Buying Steady as Growth and Inflation Rise

The Federal Open Market Committee announced April 28 that it will keep short-term interest rates close to zero and continue buying at least $120 billion per month in bonds, CNBC reported. The move comes as the economy stays strong and the Fed remains unconcerned about a slight rise in inflation.

 
Apr 28, 2021 12:30 PM

Homes in Black Neighborhoods Undervalued By $46,000: Data

The average property in a predominantly Black neighborhood in the U.S. is worth $46,000 less than a similar home in a primarily white neighborhood, according to a report published April 21 by online real estate marketplace Redfin. The research looked at value estimates for more than seven million properties sold between 2013 and February 2021.

 
Apr 28, 2021 12:30 PM

FHFA Extends Appraisal Loan Flexibilities Due to COVID-19

The Federal Housing Finance Agency announced April 21 that Fannie Mae and Freddie Mac will extend alternative appraisals on purchase and rate-term refinance loans until May 31. Importantly, the FHFA said that due to lack of use, this would be the final extension for alternative appraisals as well as for those pertaining to power of attorney, employment verification and condo review.

 
Apr 28, 2021 12:30 PM

Silicon Valley Has Lowest Office Vacancy Rate; Other Cities Face Surplus Space: JLL

The office vacancy rate for Silicon Valley was 11% during the first quarter, the lowest in the U.S., according to commercial real estate firm JLL, WealthManagement.com reported April 20. For comparison, the first-quarter office vacancy rate was 13% for New York City (the highest in 30 years) and 16% for both San Francisco and Seattle.

 
Apr 21, 2021 12:30 PM

House Approves Real Estate Valuation Fairness Legislation

The House Financial Services Committee on April 20 approved HR 2553, the Real Estate Valuation Fairness and Improvement Act, legislation that would establish an interagency task force to analyze federal collateral underwriting standards and guidance, and provide resources for promoting diversity within the valuation profession. The bill now moves to a full House vote, but no date has been set.

 
Apr 21, 2021 12:30 PM

Minority Households Face Affordability Issues: NAHB Analysis

Only 24% of Black households can afford the nation’s median new home price of $346,577, the National Association of Home Builders reported April 13. For comparison, 32% of Hispanic households can afford a median price home as can 44% of non-Hispanic white households and 56% of Asian households. The affordability gap is an issue across all states.

 
 
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