The Week Ahead: The Impact of the 2020 Wildfires
Fri, 04 Dec 2020 22:56:10 +0000

The property data analysts at CoreLogic host a complimentary webinar Tuesday, December 8, at 11 a.m. CT, entitled, "A Horizon on Fire: Where Do We Go From Here?" Organizers, noting that 2020 has been a record-breaking year across the board, say wildfire season has been no different. "With nearly 9 million acres burned across a ...

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Housing Market Stays Strong Amid Slow Economic Recovery
Fri, 04 Dec 2020 21:03:23 +0000

How long will economic recovery take? CNN Business says that if things continue at November 2020’s pace, it will take the US until March 2024 to return to where it was in February 2020. Because of COVID-19 occupancy restrictions, online shopping trends, and other effects of social distancing, many industries haven’t hired back the majority ...

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Can America Stave Off ‘Wave of Homelessness’
Fri, 04 Dec 2020 20:11:44 +0000

Some 18 million homeowners and renters are late to pay the monthly housing bill, and about a third of those expect to face eviction or foreclosure in the coming months, reported the US Census Bureau in November. According to an article in Business Insider, the outlook is especially dim for renters as well as smaller-scale ...

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Industry Leaders Discuss GSE Privatization
Fri, 04 Dec 2020 19:29:37 +0000

The U.S. House Committee on Financial Services Chairwoman Maxine Waters has been a staunch voice advocating on behalf of, in her words, "current homeowners, renters, potential owners, and more than 19 million prospective millennial homeowners." To that end, Waters Friday in a public statement said it would be "entirely inappropriate" for the FHFA, with the ...

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New Challenges for Self-Employed Borrowers
Fri, 04 Dec 2020 16:42:56 +0000

Beginning December 14 it will be a little more difficult for self-employed borrowers to secure a Fannie Mae-backed mortgage loan. As of mid-month, the GSE will require self-employed loan applicants to provide their most recent three months of business bank statements, which will need to back up submitted profit and loss statements. Fannie Mae previously ...

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Homeowners of Color Benefiting Less From Forbearance Programs
Thu, 03 Dec 2020 22:58:11 +0000

American borrowers in large part are taking advantage of The Coronavirus Aid, Relief, and Economic Security (CARES) Act, which granted up to 12 months of forbearance to homeowners with federally backed mortgages. However, because the CARES Act foreclosure moratorium does not cover borrowers with non-agency mortgages, those face a higher likelihood of losing their home, ...

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Distressed Property Investing in the Coming Year
Thu, 03 Dec 2020 20:26:47 +0000

As foreclosure moratoria expire in 2021, depending on actual and anticipated extensions, there are a couple of likely scenarios for servicers, says real estate investor and contributor to Millionacres, a Motley Fool publication, Liz Brumer. In the end, she concludes that the new administration likely will enact public protections that will prevent a great foreclosure ...

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Housing Trends and Georgia’s Political Fortunes
Thu, 03 Dec 2020 20:05:10 +0000

Georgia surprised the nation during this presidential election when it turned blue for the first time in 28 years. According to a new report from Redfin, recent migration from liberal parts of the country to Georgia may have been a factored in the state’s election outcome.  The report states that Georgia—the sixth state with the ...

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Increasing Natural Disasters Endanger Affordable Housing Supply
Thu, 03 Dec 2020 18:36:30 +0000

Flooding and other natural disasters are increasing, scientists say, putting the nation's already dwindling affordable housing supply at risk, according to a peer-reviewed environmental research paper entitled, "Sea Level Rise and Coastal Flooding Threaten Affordable Housing," by Climate Central and the National Housing Trust. A combination of low-income housing's fragile infrastructure, socioeconomic vulnerability, and increasingly frequent flooding ...

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Real Estate Valuations in a Time of Crisis
Thu, 03 Dec 2020 16:39:10 +0000

On Wednesday, January 20 from 1-2 p.m. CST, a panel of industry pundits will participate in a complimentary virtual roundtable session presented by Clear Capital entitled "Managing Mortgage Servicing Challenges in Uncertain Times: How Modern Real Estate Valuations Will Help." The event is an installment of the DS News Webinar Series, and readers can register ...

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