DAILY READS: April 3, 2020

Yes, Residential Showings Are Essential, New York Says

“The clarification was welcome news to the state’s 25,000 licensed real estate brokers, who had scrambled to adjust to Gov. Andrew Cuomo’s PAUSE order, which went into effect on March 23^rd. Cuomo’s order directed all non-essential businesses to close their doors and sharply limited social interactions, leading many in the industry to look at options like virtual showings.” Read more
MultiHousing News

Moody’s: Liquidity Issues for Non-Bank Mortgage Sector Drop Outlook to ‘Negative’

“Our baseline scenario is that over the next several quarters, non-bank mortgage firms will face ongoing liquidity stress, weaker profitability, as well as declines in capitalization and asset quality,” said Moody’s in a release. Read more
National Mortgage Professional

Some Investors Are Still Going Ahead with MOB Acquisitions, Seen as a “Defensive Play”

“’Generally, if you own a medical office building, you know that you’re going to probably survive the storm. I think [the medical office sector] is going to survive a storm stronger than most other asset classes,’ says Fahri Ozturk, first vice president with commercial real estate services company Marcus & Millichap.” Read more
National Real Estate Investor

Real Estate As An Essential Business (Opinion)

“’Life’s basic needs are food, water and a roof over your head, which makes real estate an essential service,’ Florida Realtors, that state’s largest trade association, wrote late last month.” Read more
Forbes

Put CRA Revisions on Hold, Impact Investors Say

“The proposed regulations were released Dec. 12 by two of the three agencies overseeing CRA regulation: the Office of the Comptroller of the Currency and Federal Deposit Investment Corp. The third agency, the Federal Reserve, did not participate in the proposal, which seeks to modernize the 25-year-old rules to increase lending activity in low- and moderate-income communities. The comment period ends April 8.” Read more
Pensions & Investments