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Regulators Will Be Watching Rents, Retail Prices

Posted by: | Posted on: April 3, 2020

Photo by Shutterstock.

During the financial crisis, Richard Lawson was head of the Consumer Protection Division of the Florida Attorney General’s Office. In that turbulent time, he oversaw the state’s review of people’s petitions to modify their mortgages.

“That was a huge, huge issue during that whole crisis,” says Lawson, now a shareholder with Tampa-based law firm Gardner Brewer Martinez-Monfort. “The remedies that we obtained from the banks were geared towards fixing that experience [modifying mortgages] for the consumers.”

In the current COVID-19 crisis, regulators will be watching a variety of things, including banks’ stress levels, rents, and even prices for retail goods, if a state of emergency is declared in a particular location.

Rental housing owners could have difficult decisions concerning how they handle late or unpaid rent.

“Much of that [decision about how they deal with residents] will depend on what kind of relief the creditors will be

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Multifamily Rent Increases Decelerate as the Season Starts

Posted by: | Posted on: April 3, 2020

Photo by Shutterstock

Usually at this time of the year, the start of renter season, multifamily landlords are raising their rents. This March, for obvious reasons, has been atypical however, according to RentCafe.

It reports that the national average rent was $1,474 in March, having gone up by 2.9%, or $42, which is a hard drop compared to February’s 3.2% yearly rise.

“The slowdown is visible in 60% of the cities we analyzed,” it wrote. “This is the first time since 2016 that we see a deceleration from February to March (when the rental season is supposed to kick off), as the new coronavirus pandemic is beginning to take its toll on the economy and the apartment market.”

This snapshot provides only a partial picture of the market though as the data has yet to reflect the full impact of COVID-19, according to Doug Ressler, manager of Business Intelligence at

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5 Eye-Catching Entryway Looks From Instagram, for the Days When We Can Entertain Again

Posted by: | Posted on: April 3, 2020

Although you may not have had many guests floating through your foyer lately, that doesn’t mean you can’t spruce it up for the brighter days ahead.

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Although you may not have had many guests floating through your foyer lately, that doesn’t mean you can’t spruce it up for the brighter days ahead. It might also help to make yourself feel a little better in these unprecedented times.

Much like you, we find solace in beautiful decor; so, as always, we’re bringing you some of our favorite trending looks from Instagram, this week with a focus on entryways.

And even if stores are closed and most of us are self-isolating, you don’t have

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These Mortgage Borrowers Will Be ‘the First Canary in the Coal Mine’ for a Coronavirus-Fueled Foreclosure Crisis, Regulator Says

Posted by: | Posted on: April 3, 2020

Just before the coronavirus pandemic reached America’s shores, the U.S. saw the lowest number of foreclosure filings in over a decade. But the economic downturn the disease outbreak has since caused could lead many Americans into foreclosure, the regulator of Fannie Mae and Freddie Mac said.

During an interview with CNBC Wednesday, Federal Housing Finance Agency Director Mark Calabria warned that the U.S. mortgage industry could face significant strain in the form of delinquencies and foreclosures if the coronavirus emergency lasts for six months or longer.

“This fundamentally comes down to how long an event this is,” Calabria said.

“If this only goes on for two to three months and we see pop back in the economy and people are hired back to their old jobs by and large, then I think this will be something the industry can get through without too much stress,” he added. “But if this

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SoftBank Reverses Course on $3B WeWork Buyout

Posted by: | Posted on: April 2, 2020

Photo by Shutterstock.

SoftBank is not going to move forward with a planned $3 billion purchase of WeWork stock, citing closing conditions that have not been met as the reason.

“Given our fiduciary duty to our shareholders, it would be irresponsible of SoftBank to ignore the fact that the conditions were not satisfied and to nevertheless consummate the tender offer,” said Rob Townsend, SVP and Chief Legal Officer of SoftBank, in prepared remarks.

The unfulfilled closing conditions include, according to SoftBank:

  • The failure to obtain the necessary antitrust approvals by April 1, 2020;
  • The failure to sign and close the roll up of the China joint venture by April 1, 2020;
  • The failure to close the roll up of the Asia joint venture by April 1, 2020;
  • The existence of multiple, new, and significant pending criminal and civil investigations that have begun since the agreement was signed in October 2019,
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