Good morning! Today is Wednesday, June 3. After the successful SpaceX launch, a new suite of vehicles could be regularly flying people to the International Space Station. Major League Baseball players and owners continue to debate terms of a new season.
And in mortgage and housing news …
NEW CFO: Christian M. Lown will be the new chief financial officer and executive vice president of Freddie Mac as the company seeks to emerge from conservatorship.
HOME PRICES: Home prices spiked nationwide in April, and all 50 states saw price increases, but a new report also says prices are likely to fall into next year.
EVEN LOWER RATES: Federal Reserve Chairman Jerome Powell has been out there again sounding the alarm about the potential for further damage to the economy from the coronavirus pandemic.
HOA FEES: If COVID-19 forced the closing of many property amenities, do owners still have to pay HOA fees?
COMMERCIAL MORTGAGES: The number of commercial mortgages in arrears continued to grow in May, with problems concentrated in hotels and retail centers. Although delinquencies remain low in other property types, signs of stress are beginning to appear.
BROKERAGE CONTINUITY PLANS: The COVID-19 pandemic is forcing brokerages to evaluate their business continuity plans for sustaining operations and ensuring ongoing service, as well as their business resumption plans for restoring disrupted services.
THE FED: The Federal Reserve’s Department of Opportunity and Inclusive Growth helps the Central Bank look beyond the markets to creating equitable growth.
FORBEARANCE CONFUSION: Mortgage clarity is a must in the current post-coronavirus economic firestorm.
HOA FORECLOSURE: The Ninth Circuit relied on the Housing and Economic Recovery Act of 2008 in ruling that Fannie Mae’s financial interest in a loan purchased in 2003 could not be extinguished by a foreclosure sale initiated by the property’s neighborhood HOA
REAL ESTATE INVESTMENTS: Unlike the extremely cyclical nature of the stock market, low-interest-bearing savings accounts and other avenues, real estate is able to provide a uniquely safe investment vehicle.