Good morning! Today is Tuesday, June 2. Seven states and Washington, D.C., hold vote-by-mail primaries today. President Trump threatened to send federal troops to states that “refuse to take action” against rioters. Carole Baskin was awarded the zoo once owned by “Tiger King” Joe Exotic.
And in mortgage and housing news …
NON-PERFORMING LOANS: Nearly half of the non-performing loans sold by Fannie Mae and Freddie Mac to the private sector last year were located in just three states, according to a report released by the Federal Housing Finance Agency.
OPEN HOUSES: Sixty-five percent of people who attended an open house in the last year say they would do so now without hesitation, according to a survey released by the National Association of Realtors.
FORBEARANCE NUMBERS: The latest Mortgage Bankers Association report found that the number of mortgages in forbearance has officially leveled off.
REMOTE WORK: Online real-estate platforms are reporting increased buyer demand in suburbs and small cities as remote-work culture spreads, but whether they will find sellers remains an open question.
MORTGAGE SERVICERS: The federal government’s coronavirus aid has had a strong impact on mortgage servicers.
LEMONS LEMONADE: How mortgage consumers can benefit from a slow economy. This is one of the best times in history for those looking to buy, sell, or refinance a home.
MORTGAGE INVESTORS: Mortgage investors aren’t having a good year despite the Federal Reserve providing $688 billion in support to the sector since mid-March.
SIX MORTGAGE TYPES: Selecting the right mortgage is not as simple as choosing between a 15-year and a 30-year term—or whether you prefer to pay a fixed interest rate for the life of the mortgage or to have an adjustable interest rate, or ARM.
BANK ROBBERY RISK: A top federal regulator says wearing of face masks could increase bank robberies.
10-YEAR RECOVERY: The U.S. economy could take the better part of a decade to fully recover from the coronavirus pandemic and related shutdowns, a U.S. budget agency said.
FLORIDA: Gov. DeSantis extends mortgage foreclosure and eviction relief in Florida.
UK EXTENSION: Britain’s lenders have been ordered to offer homeowners a second wave of mortgage holidays if they are struggling to pay because of the coronavirus crisis.