Good morning! Today is Monday, May 3. As the U.S. began withdrawing troops from Afghanistan, Taliban forces launched a rocket attack on Kandahar airfield. A SpaceX capsule with four astronauts returning from the International Space Station splashed down safely in the Gulf of Mexico. Medina Spirit won the 147th running of the Kentucky Derby, kicking off the 2021 race for the Triple Crown.
And in mortgage and housing news …
NAVIGATING 2021: How to budget, prepare for bidding wars and surging prices when buying a home in 2021.
FAIR HOUSING ACT: The Department of Housing and Urban Development charged a California mortgage modification service with discrimination. The complaint reflects HUD’s focus on “fair servicing” in addition to fair lending.
NY RECOVERY: The New York City real estate market suffered during the pandemic, but committed buyers are coming back.
UNAUTHORIZED WITHDRAWAL PROBE: The Consumer Finance Protection Bureau is looking into unauthorized withdrawals made by the nation’s third largest lender – Mr. Cooper. Mr. Cooper blamed the errors on processing snafus made by its vendor.
FIRST-TIME HOMEBUYER TAX CREDIT: President Joe Biden touted a potential first-time homebuyer crediton the campaign trail, and now, it seems Congress has delivered.
HOME VALUE: How to calculate what your home is worth in the current marketplace.
FLOOD PLAINS: Houses on flood plains tend to be significantly overvalued.
RENT VS. BUY: Twelve U.S. housing markets where it’s cheaper to buy than rent in 2021.
STELLAR CREDIT: Thirteen ways to build a standout credit profile.
LENDING DISPARITY: A call for changes in lending practices and policies, after racial disparities plagued how PPP loans were distributed in the U.S.