On Wednesday, President Joe Biden unveiled a $2.3 trillion infrastructure proposal known as the American Jobs Plan, which centers on investing in infrastructure, affordable housing, and green energy – and employs tax policy changes to partially fund the ambitious set of proposed initiatives. On Thursday, the U.S. Supreme Court issued its opinion in Facebook v. Duguid, a dispute concerning the scope of the TCPA’s automatic telephone dialing system definition.

Another sign that the U.S. economy is heating up: the Bureau of Labor Statistics on Friday reported total nonfarm payroll employment rose by 916,000 in March, while the unemployment rate fell to 6 percent.

The Consumer Financial Protection Bureau last week warned mortgage servicers to “take all necessary steps now” to prevent a wave of avoidable foreclosures this fall.

One of the most striking aspects of the COVID-19 pandemic’s impact on commercial and multifamily real estate has been the disparity in the ways different property types have been affected. MBA’s monthly CREF Loan Performance Survey continues to show the immediate and dramatic rise in delinquency rates among lodging and retail properties.