Good morning! Today is Wednesday, January 13. Several senior House Republicans joined the push to remove President Trump, citing his role in inciting an angry mob to storm the Capitol last week. The U.S. will require Covid-19 tests for all international visitors. Federal health officials instructed states to immediately begin vaccinating every American 65 and older, as well as tens of millions of adults with medical conditions that put them at higher risk of dying from coronavirus infection.
And in mortgage and housing news …
ON THE MOVE: A survey released by Redfin found that two-thirds of U.S. homebuyers and sellers would consider moving (or already have) to a new city if they could work at home on a full-time basis.
MORTGAGE CREDIT: The Mortgage Credit Availability Index decreased 0.1 percent to 122.1 last month, with the Conventional MCAI decreasing 2.8 percent and the Government MCAI increasing 2.1 percent.
GSE REGULATOR: President-elect Joe Biden’s team has held preliminary talks on how it could oust Fannie Mae and Freddie Mac’s regulator, said people familiar with the matter, a move that would let the new administration fill a post that’s crucial to the mortgage market and its goal of boosting affordable housing.
LIHTC BULWARK: The Low Income Housing Tax Credit is proving to be a bulwark in rural counties with persistent poverty, subsiding 40 percent of all multifamily affordable housing developments in those areas.
QM RULES: The Consumer Financial Protection Bureau released two final rules amending the General Qualified Mortgage loan definition in Regulation Z and creating a new “Seasoned QM” loan category in Regulation Z.
NJ FORECLOSURE: The New Jersey legislature is considering a bill designed to reduce foreclosures while providing new assistance to municipalities seeking to rehabilitate vacant properties.
MORTGAGE SALES: An explanation about why banks sell mortgages and which ones don’t.
MANUFACTURED HOMES: Fannie Mae aims to increase its goal for purchases of loans for manufactured housing by 15 percent this year, noting that monthly payments for such mortgages are commonly much less expensive than traditional multifamily rents.
LUXURY BUYERS: A millennial real estate agent shares what she has learned about working with young affluent buyers while climbing the professional ranks and serving her peers.
SELLER DISCLOSURES: How real estate agents can help buyers and sellers avoid costly mistakes.
PACS SUSPENDED: Airbnb joins other companies in halting donations to election objectors.