Good morning! Today is Wednesday, February 3. Amazon CEO Jeff Bezos steps down. Andy Jassy, who has run the company’s cloud computing business, will take the reins. The US Senate took a tentative step Tuesday towards pushing through a massive economic aid package proposed by President Joe Biden, but bipartisanship was absent.
And in mortgage and housing news …
NEW LAWYER: The Federal Housing Finance Agency is getting a new general counsel for the first time since its creation.
BORROWERS MISLED: Some mortgage companies misled borrowers about forbearance, regulators say.
CLIMATE EFFECTS: Nearly three-quarters of Americans who bought or sold a home in 2019 say that an increase in the frequency and intensity of natural disasters is “somewhat” a factor in their decision to buy or sell, according to a survey conducted earlier this year by real estate brokerage Redfin
EX-URBANITE LIFE: Former city dwellers are opening shops and other businesses, settling into small-town life.
STERLING SETTLES: Sterling Bancorp has settled a shareholder lawsuit that alleged disclosures about the Southfield, Mich., company’s residential lending practices violated federal securities laws.
MILLENNIAL LUXURY: Millennials are changing the luxury real estate market.
CALIFORNIA EVICTIONS: California courts are bracing for eviction cases to double over the next year as pandemic-related financial woes deepen for thousands of renters across the state.
SPY NOT BUY: Real estate agents recount examples of showings set up to spy versus buy.
CRE LENDING: Facing countless substantial challenges within the market, commercial real estate lenders have persisted by proceeding with caution and constantly adjusting strategies.