Good morning! Today is Tuesday, March 30. Covid-19 hospital cases are rising in 25 states. The Super Moon tide helped free a cargo ship blocking the Suez Canal. U.S. church membership dropped below 50 percent for the first time, according to an 80-year-old Gallup poll.
And in mortgage and housing news …
EVICTION BAN: The Mortgage Note reports that the Consumer Financial Protection Bureau and the Federal Trade Commission issued a warning to landlords to “stop illegal evictions” during the Covid-19 pandemic.
HUD GRANTS: The Mortgage Note reports that the US Department of Housing and Urban Development will allocate $450 million in housing block grants to support affordable housing, as well as another $5 million for Native Hawaiians.
ROCKET PHILANTHROPY: Rocket Mortgage is making a $500 million investment in Detroit.
GSE FORECLOSURE PREVENTION: According to the latest Foreclosure Prevention and Refinance Report from the Federal Housing Finance Authority (FHFA) for Q4 of 2020, Fannie Mae and Freddie Mac (GSEs) completed 362,912 foreclosure prevention actions in Q4.
DOG EAT DOG: There is no end in sight for Rhode Island’s “dog eat dog” housing market.
REMODELING INVENTORY: Razor-thin inventory may be straining the housing market, but experts say the ongoing boom in home remodeling may be exacerbating the issue.
RETURNING TO THE OFFICE: Ninety-one percent of 140 CEOs surveyed said their companies will ask employees to inform them when they’ve had their shots.
MORTGAGE FRAUD: Mortgage fraud is likely to increase. Here’s how to protect against it.
MULTIFAMILY BORROWERS: Fannie Mae is offering affordability incentives for multifamily borrowers.
FREDDIE MAC REFI: Freddie Mac single-family refinance loan purchase and guarantee volume was $85.0 billion in February compared to $84.56 billion in January, representing a 77 percent share of total single-family mortgage portfolio purchases and issuances, up from 73 percent the previous month.