Good morning! Today is Wednesday, August 5. Beirut explosion that caused thousands of deaths is believed to be caused by ammonium nitrate stored in a warehouse. A new study shows that COVID-19 patients who received transfusions of blood plasma rich with antibodies from recovered patients reduced their mortality rate by about 50 percent. Satellite imagery reveals new penguin colonies in Antarctica.
And in mortgage and housing news …
RACIAL DISPARITIES: Lenders denied mortgages for Black applicants at an 80 percent higher rate than white applicants – and 120 percent more often when applying for a conventional loan, according to an analysis released by Zillow.
RISK TOLERANCE: The fear of risk could diminish an economic rescue by the Treasury and Federal Reserve. That could leave riskier companies out in the cold.
RENTER AID: GOP lawmakers embrace tenant protection as mass evictions loom.
EVICTION PROTECTION: CARES Act protections for evicted renters could depend on where you live and your county judge.
RECOVERY: Doug Duncan, SVP and Chief Economist at Fannie Mae, offers a forecast and analysis of the economy and the housing and mortgage markets.
PRE-COVID SALES: Find out which cities are seeing home prices and sales surpass their pre-COVID-19 levels.
CONSTRUCTION CUT: The coronavirus cut Southern California housing permits to an 8-year low.
LOAN STANDARDS: Banks have tightened standards, becoming more choosy about their borrowers and asking a lot of questions.
REFINANCING WARNING: As mortgage rates fall to record lows, beware refinance deals with hefty costs.
LOAN FABRICATION?: An entrepreneur wants to know why he went to prison for a bank loan that did not exist.