What I'm Reading Postponed: The Federal Housing Finance Agency has announced that Freddie Mac and Fannie Mae will extend multifamily forbearance for COVID-19. Qualifying multifamily property owners will be eligible for forbearance through June 30, 2021. The program was scheduled to expire on May 31, 2021. This move includes eviction...
March 9th – Unfinished Business
What I'm Reading Unfinished Business: A new ruling in a Georgia lawsuit between a landlord and tenant found that that by accepting reduced and irregular payments for an extended period, plaintiff Atlanta Life Financial group had created a quasi-new agreement. It ruled that by accepting 16 months of initially reduced...
March 8th – Gorging
What I'm Reading Gorging: Homebuilders are buying up undeveloped lots at a frantic pace in an effort to meet today's incredibly strong demand. However, that demand isn't permanent and the land grab could lead to pain for those participating. Ivy Zelman sums it up perfectly: “The biggest concern I have...
March 1st – Fuel on the Fire
What I'm Reading Fuel on the Fire: With long rates rising, investors in the mortgage bond market had to sell treasury positions in order to hedge their holdings, accelerating last week's bond market selloff. Christopher Maloney of Bloomberg explains what is happening perfectly: The forced sellers are investors in the...