Good morning! Today is Tuesday, April 20. The Biden administration is considering a rule to require tobacco companies to reduce the nicotine in all cigarettes sold in the U.S. to levels at which they are no longer addictive. The US Army has approved the call-up of 250 members of the DC National Guard, as the nation’s capital braces for potential protests and unrest ahead of a verdict in the Derek Chauvin trial. NASA flew a helicopter on Mars – the first time an aircraft has flown on another planet.
And in mortgage and housing news …
GREEN HOUSING: The Mortgage Note reports Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez introduced a “Green New Deal for Public Housing Act” that would invest $172 billion in “green retrofits” that they say would eliminate all carbon emissions.
EVICTION MORATORIUM: The Mortgage Note reports on the Consumer Financial Protection Bureau move to beef up the federal eviction moratorium by requiring debt collectors to provide written notice to renters of their rights.
FORBEARANCE REPORT: The Mortgage Note reports an estimated 2.3 million homeowners remain in forbearance plans in the United States, according to the latest Mortgage Bankers Association report.
SINGLE-FAMILY SERVICING: The Federal Housing Administration announced updates to its Single Family Handbook, which it says will strengthen loss-mitigation approaches for struggling borrowers while streamlining servicer requirements.
SUPPLY/DEMAND: The factors driving the incredibly strong demand and lack of inventory.
LENDING COMEBACK: A slump in bank lending has investors worried, even though bank profits continue to surge.
CO-OP INVESTORS: A unique real estate co-op structure is seeking investors. It’s the third property and first commercial property for East Bay Permanent Real Estate Cooperative, a unique real estate development entity with an ownership and governance structure that includes co-op residents, members of the surrounding community, staff of the co-op, and investors.
FANNIE MAE FORECAST: Fannie Mae makes a housing supply-demand forecast for 2021.
CONSTRUCTION LOANS: If you’ve fantasized about building a home of your own, you may be surprised to learn that construction loans are more expensive than residential loans.
RETIRED BUYERS: How to finance your next home purchase if you are retired.
RENT OR BUY: Choosing to rent or buy? The rise in home affordability can make it an easy decision.