The Lede

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Multifamily and Commercial Originations Approach Past Highs
National Mortgage News, Apr. 6, 2017--Bonnie Sinnock (subscription)Commercial and multifamily mortgage bankers originated $490.6 billion closed loans in 2016, making it the third strongest year on record despite the pressure higher rates have put on volume, the Mortgage Bankers Association said.
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The New Sears Home Is an Affordable Apartment
Bloomberg, Apr. 6, 2017--Patrick Clark; Kim BhasinIn February, a nonprofit called Mercy Housing Lakefront opened 181 units of affordable rental apartments in a building that once housed Sears's catalog printing plant.
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Is the Trump Administration Serious about Restoring Glass-Steagall?
National Mortgage News, Apr. 6, 2017--Ian McKendry (subscription)Observers are divided whether National Economic Council Director Gary Cohn's support for a modernized Glass-Steagall Act is purely opportunistic or a sincere wish to significantly reshape the financial services industry.
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Commercial, Multifamily Mortgage Originations in U.S. Total $491 Billion in 2016
World Property Journal, Apr. 7, 2017--Michael GerrityAccording to the Mortgage Bankers Association's 2016 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation, U.S. commercial and multifamily mortgage bankers closed $490.6 billion of loans in 2016.
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Zillow: Renters Will Need to Earn More to Cover Housing Costs
National Mortgage Professional, Apr. 7, 2017--Phil HallRenters will need to raise their incomes by an average of $168 a year to keep up with expected rent increases over the next 12 months, according to a new forecast from Zillow, which added that median rent prices are predicted to be $1,420 at this time next year.
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Lending for Commercial Property Falls as Investors Pull Back
Wall Street Journal, Apr. 11, 2017--Peter Grant (subscription)Lenders closed $491 billion of mortgage loans in 2016, down 3% from 2015, according to new statistics from the Mortgage Bankers Association. Most of the decline occurred in the fourth quarter, when volume was 7% lower than the same quarter in 2015.
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Banks Lend Aggressively on CRE Despite Downturn Fears
The Real Deal (Los Angeles), Apr. 11, 2017Banks are aggressively lending on commercial properties even as developers and equity investors are starting to pull back amid fears of a downturn. Total U.S. commercial real estate lending volume decreased slightly to $491 billion in 2016--down 3 percent from 2015, according to the Mortgage Bankers Association.
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Office Tower on Billionaires’ Row Snags a Low-Rate Loan
Wall Street Journal, Apr. 11, 2017--Peter Grant (subscription)Carnegie Hall Tower, the Manhattan office skyscraper that helped shore up the finances of the fabled concert hall, refinanced its debt with a $325 million loan from Metropolitan Life Insurance.
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Chicago Entices Companies to Return Downtown
Wall Street Journal, Apr. 11, 2017--Shibani Mahtani, Andrew Tangel (subscription)The tide of companies moving back to big cities in search of talent and better transportation links is rising, reviving many downtowns at the expense of suburbs and smaller communities.
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Commercial Lenders Brace for Damage from Retail Plunge
National Mortgage News, Apr. 11, 2017--Andy Peters (subscription)A litany of bankruptcies among retailers has many lenders on edge as they and others try to predict how much damage it could do to bank earnings--and how soon.
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