In light of recent national events, we have been provided with an opportunity to reflect on how we deal with race in our daily work as mortgage professionals. One area that can have an immediate impact is to eliminate the use of certain terminology that has racist origins.
Covid-19 has infected over 10 million people worldwide and deaths have exceeded half a million.
The equity markets continue to strengthen as the economy reopens. This strength in the equity markets is usually followed by an increase in the 10 year Treasury rate but the surge of COVID-19 cases in the Southern States is dampening investor enthusiasm leading to little upward pressure.
35 Club is an upscale apartment development providing high quality, energy-efficient housing in a central urban location.
Equity markets and 10 Year Treasury rates decline as COVID-19 cases increase
On June 4, 2020, HUD issued its annual update to Statutory Mortgage Limits effective as of January 1, 2020, via notice in the Federal Register. And, on June 5, 2020, HUD issued a Mortgagee Letter updating its Annual Base City High-Cost Percentages and Hight Cost Areas also effective January 1, 2020.
Investors are responding positively to the economic rebound following the loosening of COVID-19 restrictions which is resulting in a surge in equities.
Civil unrest is hampering the reopening of cities causing further damage to the economy and resulting in a lower 10-year treasury rate.
Centennial Mortgage Underwriters and Originators are disappointed that so many of the Regional Lender Conferences have had to cancel their in-person meetings during 2020 for reasons related to Covid-19.
Interest rates fluctuate daily but generally move in tandem with the 10 Year United States Treasury rate. However, in times of great economic or political uncertainty, the HUD and USDA mortgage rates can move higher, even as Treasury Rate drops.
The Gates Dunaway Group, Recap Advisors and Centennial Mortgage are offering another RAD for PRAC training in the Pacific Northwest. The training is focused on HUD’s RAD for PRAC Conversion program as outlined in Revision 4 to the RAD Notice.
Planning for a Rent Increase and Possible Conversion
In anticipation of the rescheduled in-person 2-day RAD for PRAC training in Everett, WA in September, Recap Advisors, The Gates Dunaway Group, and Centennial Mortgage are hosting a 90-minute mini-webinar for PRAC owners and managers.
In anticipation of the rescheduled in-person 2-day RAD for PRAC training in Everett, WA in September, Recap Advisors, The Gates Dunaway Group, and Centennial Mortgage are hosting a 90-minute mini-webinar for PRAC owners and managers.
