The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

A real estate professor weighs in on the future of MLSs

According to research done by Sonia Gilbukh, a real estate professor at Baruch College, there are some reasons to be concerned about the current number of real estate agents and the future of MLSs.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

CoronavirusReal Estate

Texas joins South Carolina in lifting eviction restrictions

But some local governments still have protections in place

Eviction moratoriums will lift in Texas starting next week. The Lone Star State joins South Carolina, which started allowing evictions to resume today.

The Texas Supreme Court will allow eviction hearings to begin as soon as next Tuesday and notices authorizing evictions are allowed starting May 26.

However, those who are protected through the federal Coronavirus Aid, Relief and Economic Security Act, which include renters in homes covered by federally backed mortgages, are not affected by the lift on evictions.

In March, Fannie Mae, Freddie Mac and the Department of Housing and Urban Development suspended all foreclosures and evictions for 60 days to ensure that people didn’t lose their homes as the coronavirus was shutting down the U.S. economy. This was set to end on May 17.

On Thursday, each of those agencies announced that they are extending their suspensions of foreclosures and evictions through the end of June, at least.

According to HUD, the freeze applies to single-family mortgages and reverse mortgages (HECMs) insured by the Federal Housing Administration.

Tenants in Texas protected by the CARES Act have protection through August 23, while others may be protected through local orders, such as Austin, Dallas or San Marcos, the Texas Tribune said.

For example, in Bexar County, Judge Rogelio Lopez extended the moratorium through June 1. And in San Antonio, about half of rental units are protected under the CARES Act.

Across the country, the national eviction moratorium was placed on March 27 and is set to lift 120 days afterward. In New York, Gov. Andrew Cuomo extended the eviction moratorium until August 20. It was originally put in place in March and supposed to last through June.

Also on Thursday, Michigan Gov. Gretchen Whitmer extended an order that suspends evictions during the pandemic. Whitmer signed the original order on March 20, and the extended order is to be lifted on June 11. Mississippi’s suspension on evictions will also lift on June 1.

Last week, another 2.8 million people filed jobless claims, bringing the total number of Americans seeking unemployment benefits since the beginning of the COVID-19 pandemic to 36.5 million. This has put a strain on renters, as the total number of incomplete rent payments rose 93% between March and May.

Here is an interactive search to see what apartments are protected under the CARES Act.

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