Mortgage Roundup (1/7/21) – Capitol, Amazon & Debt

Good morning! Today is Thursday, January 7.  Congress certified Joe Biden’s Electoral College win hours after rioters breached the U.S. Capitol. A woman who was shot by Capitol Police during the unrest has died.Hundreds of closed Sears department stores across the nation are being used to administer Covid-19 vaccines. 

And in mortgage and housing news …

CAPITOL REACTION: Business groups – including housing and mortgage organizations – were quick to condemn the mob that overran the Capitol as the Congress was working to certify the election of President-elect Joe Biden.

AMAZON HOUSING: Amazon announced a $2 billion investment in affordable housing in communities where it has a significant business presence.

MORTGAGE APPS: Mortgage applications closed 2020 slightly lower than mid-December, according to the latest weekly survey released by the Mortgage Bankers Association.

BOGUS DEBT: What can you do when a bogus debt appears on your credit report?

FAIR LENDING: Lenders are likely to devote more compliance resources to fair lending in 2021. The reason: The incoming administration has made it clear it will look into how servicers handled forbearance.

BANKRUPTCIES: Commercial chapter 11 filings rose 29 percent last year, while personal bankruptcies took a nose dive.  

NONBANK MORTGAGES: A new report published by the Urban Institute’s Housing Finance Policy Center calling for a re-examination of how federal regulators oversee nonbank mortgage servicers.

HOMELESS HOUSING: How COVID-19 led to more housing for California’s homeless.

PETOWNER CITIES: The pandemic has prompted more people to take on a furry friend, as pet ownership has surged over the past year. Rent.com ranks pet-friendly cities. 

FHFA LIQUIDITY: The Federal Housing Finance Agency is seeking to implement minimum GSE liquidity and funding requirements.

HOUSING INVENTORY: Michigan housing inventory hits all-time low as home sales continue to boom.