pandemic

Attorneys across the nation have taken note that the Federal Trade Commission has proposed a rule that would bar companies from requiring employees to sign a noncompete agreement, which limits workers’ ability to leave for a rival or to strike out on their own in the same field. The FTC says barring noncompete agreements could raise pay by $300 billion annually. So the FTC wants to ban companies from telling their employees they can’t work for competitors, and says it’ll help workers make $300 billion more a year. From the East Coast, Brian B. points out that the FTC believes that this is a “rule change” and that approval from Congress, which is a near-impossibility these days, is not needed. Along with this, there are plenty of other topics that are of interest to originators, lenders, and vendors, so let’s jump in. Affordable Housing and Multi-Family Observations Affordable housing is a very hot topic, and Julie Cooper from Evergreen Home Loans writes, “Concerning lender partnerships with affordable housing developers, NGOs, cities and counties, considering the renewed appetite for public funding of all types of properties, (multi fam, owner, transitional and special needs), we can have impact on the creation and funding of these developments. We’re finding in the Pacific Northwest that our involvement and partnership results in real loans closed, and the industry’s contributions are vital. Many of these partners do not have our expertise and appreciate the help.”