On Thursday, the OCC, Federal Reserve and FDIC issued a joint notice of proposed rulemaking overhauling Community Reinvestment Act regulations. On May 4, the Federal Reserve – in a widely expected move – raised the benchmark federal funds rate and indicated plans for more 50-basis-point rate hikes in upcoming meetings.
Category: News and Trends
1Q CRE Lending Up 69% from Year Ago
CBRE, Dallas, said despite tightening lending conditions, commercial real estate lending increased in the first quarter.
MISMO Launches Commercial Standard Facilitating Exchange of Financial Operating Statement Information
MISMO®, the real estate finance industry standards organization, announced availability of the Commercial Financial Operational Statement Dataset Standard.
Commercial/Multifamily People in the News May 12 2022
PGIM Real Estate appointed Christy Lockridge as its chief diversity, equity and inclusion officer, based in Chicago. She will build upon the firm’s expanded commitment to advancing diversity, equity and inclusion and will lead the business’s first formal DEI office.
MBA Commercial/Multifamily Finance Servicing and Technology Conference in Los Angeles May 15-18
The Mortgage Bankers Association’s Commercial/Multifamily Finance Servicing and Technology Conference takes place May 15-18 at the JW Marriott Los Angeles.
U.S. Hotel Profitability Reaches 28-Month High
STR, Hendersonville, Tenn., said March U.S. hotel gross operating profits reached their highest levels since 2019.
MBA Education, Superus Careers Partner on Mortgage Career Exchange Marketplace
MBA Education, the career advancement arm of the Mortgage Bankers Association, and Superus Careers, a U.S.-based employment recruiting firm, announced a partnership for mortgage professionals to maximize their employment options.
Industrial Fundamentals Break More Records
JLL, Chicago, reported the industrial sector vacancy rate fell for the sixth consecutive quarter in early 2022, from 3.8 percent to 3.4 percent.
CBRE: Most Companies Anticipate Reshaping Offices for Hybrid Work
CBRE, Dallas, said most office-using companies are developing long-term plans to expand or contract their office space now that employees are returning at least part-time after two years of mostly remote work.
Quote
“The strong momentum in commercial and multifamily borrowing and lending at the end of 2021 carried into the first quarter. The continued growth in lending activity is the result of the ongoing strong demand for certain property types like industrial and multifamily, as well as renewed interest in other property types that saw more dramatic declines during the early stages of the pandemic, such as hotel and retail.”
–Jamie Woodwell, MBA Vice President of Commercial Real Estate Research.