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108 OREGON Shifting Priorities for Single-Family Zoning As lawmakers in states such as Oregon and California move to end zoning exclu- sively for single-family homes, the New York Times takes a look at what is moving cities to begin to do away with zoning for the traditional single-family home. N YT notes that the Oregon legislature this month will consider a law that would end zoning exclusively for single-family homes in most of the state, while California lawmakers have drafted a bill that would effectively do the same. ese lawmakers state that this change is necessary, "amid mounting crises over housing affordability, racial inequality, and climate change." Minneapolis will end single-family zoning city wide as well, across zoning on 70%of the city's residential land, or 53% of all land. According to Minneapolis director of long-range planning Heather Worthington, a drastic change such as this was the best option. If we were going to pick and choose, the fight I think would have been even bloodier," Worthington told N YT. According to Urban footprint, convert- ing 5% of Minneapolis's largest single-fam- ily plots into triplexes would create 6,200 new units of housing. Despite the benefits proposed by lawmakers, Minnepolis' plan has drawn criticism. "What we're selling here in Minne- apolis—or what our planning department and our city council are selling—is that we're new, we're state of the art, we're cutting-edge, we're virtue signaling," Lisa McDonald, a former Minneapolis City Council member told N YT. According to McDonald, the reality of the plan is that Minneapolis is "giv- ing itself away to developers," building market-rate housing, but not any new af- fordable housing, stating to " beware these promises." According to the N YT, these advocates for curbing single-family zoning are not pushing a new idea, but rather, are lobby- ing for "a return to the past." "Many Minneapolis blocks today date to before the 1920s, with duplexes or small apartment buildings next to single-family homes," the N YT report stated. "For years, those older buildings have been consid- ered "nonconforming," as the law changed around them. Under Minneapolis' new plan, that distinction will end, too." UTAH Integrating Solutions Real-time financial data access and insights provider, Finicity has announced an integration with LendingQB, a provider of SaaS loan origination technology solutions. e company said that through this integration, LendingQB's platform will use Finicity's digital Verification of Assets (VoA) solution to allow lenders to free up resources, increase processing speed, and reduce mortgage fraud while providing borrowers with a more efficient and posi- tive experience. "Digitizing the loan origination process is the key to the future of lending," said Steve Smith, CEO, Finicity. "We're proud to be one of the tech providers behind this movement and are glad to work with leading digital loan originators like Lend- ingQB to help the industry evolve and improve the experiences for lenders and borrowers alike." Both Finicity's verification solutions are delivered under the CR A framework, which allows borrowers to directly obtain information on reports or resolve discrep- ancies. Utah-based Finicity said that its status as a registered CR A is a symbol of its commitment to consumer control and empowerment, as well as its dedication to the requirements of the lending space. "At LendingQB, we pride ourselves on our ability to seek out the best technol- ogy and partnerships to combine with our solution," said Tim Nguyen, CEO of MeridianLink, the parent company of LendingQB. "is creates a competitive advantage for lenders that delivers a more meaningful experience to the people that really matter: borrowers." LendingQB provides solutions that help mortgage lenders reduce costs, main- tain compliance and increase profitability, while still putting their customers first. is comes from LendingQB's unique approach to loan origination system build- ing—layering its core platform with best- of-breed components to create the ideal solution for each lender. CALIFORNIA Earthquakes and MBS in the Golden State According to Fitch Ratings, recent Cali- fornia earthquakes should have no impact on the ratings of Residential Mortgage Backed Securities (RMBS). Fitch notes that less than 1% of Fitch-rated RMBS pools have exposure to the areas affected by the earthquake. Fitch states that less than 1% of Fitch-rated RMBS pools have exposure to the areas affected by the earthquake, noting that the multiple earthquakes in California last week were in sparsely populated areas. Within the affected areas, Fitch does expects the impact on residential mortgage performance to be modest, and according to Fitch's data, natural disasters since 1990 have only had a temporary influence on bor- rower behavior, with delinquency typically returning to pre-disaster levels within 12-18 months. According to Fitch, future natural di- sasters may bring about more risks, and may impact mortgages more drastically moving forward. "e relatively limited amount of time residential borrowers have been affected by California Handling REOs and Corporate Owned Assets for Over 25 Years Joyce Essex Harvey & Sean Freeman Coldwell Banker Residential Brokerage 310.720.9067 (c) 310.777.6375 (o) Joyce@EssexHarvey.com EssexHarvey.com Woman-Owned Business Serving Los Angeles County CalDRE#00935813/01366376 Puerto Rico Real Estate Opportunities Lic. E-109 Based in San Juan, Puerto Rico OFFICE: 787.763.7202 | CELL: 787.309.3452 FAX: 787.282.0461 Gretchen@REOPuertoRico.com REOPuertoRico.com Gretchen García Lic 16825 Broker/Owner

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