Mortgage Roundup (4/7/21) – CFPB, 1031 & Pets

Good morning! Today is Wednesday, April 7. President Biden said all adults should be eligible for a Covid-19 vaccine by April 19. A national coalition of small businesses plans to lobby Congress for stricter antitrust laws and enforcement, saying Amazon competes unfairly. A new game show wants to send winners to space. 

And in mortgage and housing news …

FORECLOSURE GLUT: The Mortgage Note reports that the Consumer Financial Protection Bureau is proposing rule changes designed to prevent the 2.5 million Americans still in mortgage forbearance plans from losing their homes when the foreclosure bans expire.

COMMERCIAL REAL ESTATE: The 2021 Commercial Real Estate International Business Trends Report discusses the trends in foreign buyer purchases of U.S. commercial real estate in 2020 in the “small commercial real estate market” and in the “large commercial real estate market.”

SECTION 1031: With some calling for the repeal of like-kind exchanges, practitioners show how the misunderstood Section 1031 provision can be a boon for communities.

HOUSING TRUST FUND: HUD’s federal low-income housing grant doubled in size this year.

LOAN OFFICER TALENT: One loan officer shares why he switched firms without a signing bonus, signaling the value of key factors to recruit and retain talent.

COMMERCIAL PROPERTY PETS: Commercial property managers may need to ease building rules to accommodate workers’ furry friends.

CLIMATE RELOCATION: A new report from Redfin has found that an increasing number of Americans are factoring in the climate when deciding where to live.

ROCKET GOLF: Rocket Mortgage has signed a sponsorship deal with PGA Tour star Bryson DeChambeau, who last summer won the mortgage lender’s tournament in Detroit.

AMAZON MALL USE: Amazon is snapping up un-used shopping malls and turning them into fulfillment centers.