Good morning! Today is Monday, March 8. As the Biden administration races to find shelter for a fast-growing migration surge along the Mexico border, they are handling the influx primarily as a capacity challenge. Calls grow for New York Gov. Cuomo to resign, as he faces accusations of inappropriate workplace behavior and a federal probe into his administration’s handling of Covid-19 in nursing homes. Sixty-nine percent of American adults say they will get the Covid-19 vaccine.
And in mortgage and housing news …
“BIZARRE,” “UNETHICAL”: United Wholesale Management CEO Mat Ishbia is facing significant blowback from industry leaders over his edict that his company will not do business with brokers who work with his competitors.
MULTIFAMILY FORBEARANCE: The Federal Housing Finance Administration is extending mortgage forbearance for multifamily properties until June 30, 2021.
LUXURY COSTS: Buying a luxury home costs more than the $1million dollar price tag.
BIWEEKLY MORTGAGE PAYMENT: The pros and cons of making bi-weekly mortgage payments.
RATE DIFFERENCE: The difference each month between a 3 percent and 4 percent mortgage interest rate.
TEXAS STORMS: After a strong winter storm damaged many homes for sale in Texas, lenders are making more demands, which may cause the ‘seller’s market’ to last longer.
ACCURATE DATA: Thanks to advanced analytics, there are new lender scoring models that combine traditional credit data, alternative data, and trended data, allowing lenders to glean even deeper insights into borrowers’ financial behavior.
DIGITAL CLOSINGS: Will eClosings be worth their ROI post-pandemic?
CRE LIQUIDITY: The multifamily, industrial and office categories accounted for the bulk of commercial real estate sales, and observers expect debt and equity providers to continue concentrating on these sectors until COVID-19 comes under control or owners and special servicers begin to bring distressed hospitality and retail assets to the market.
CREDIT REPORT: Thanks to the pandemic, you can check your credit report every week – for free.
CREDIT SCORE DISPUTES: How to effectively dispute mistakes on your credit report.