The Mortgage Bankers Association and nearly 100 industry trade and community organizations sent a letter to the House this week urging support for legislation that would promote housing development and construction near transit hubs.

The finance industry’s march towards transition away from LIBOR index continues as the third quarter approaches. For all the talk of upward revisions to economic growth projections, the market still awaits the first balance sheet commercial mortgage loan based on SOFR index.

The Mortgage Bankers Association led more than two dozen other industry groups in an Apr. 15 letter to state and local policy associations, urging them to allocate available American Rescue Plan federal funds to assist renters, consumer-facing small businesses and impacted industries that are having trouble paying rents, mortgages or remaining viable enterprises due to the COVID-19 pandemic.

The Mortgage Bankers Association's Commercial Real Estate/Multifamily Finance Board of Governors (COMBOG) Nominating Committee seeks members' recommendations for individuals to serve on the Board beginning this October in the Investor, Lender, Mortgage Banker and Servicer categories. This is an important process that determines the leadership for MBA’s commercial/multifamily membership.

The Small Business Administration launched a webpage on its Restaurant Revitalization Fund program, which provides emergency assistance for eligible restaurants, bars and other qualifying businesses affected by COVID-19.

Major institutional real estate owners’ investment activity fell significantly due to the pandemic, but their portfolio allocations did not deviate significantly, reported Reonomy, New York.

Boxwood Means LLC, Stamford, Conn., said leasing in the small-cap real estate domain showed strong momentum during the first quarter as the economy bounced back from the pandemic.

The U.S. economy is well into its recovery from the pandemic recession, but Trepp LLC, New York, noted bank commercial real estate loans indicated “elevated distress” in the fourth quarter.

Expanded unemployment benefits and federal stimulus payments are benefiting unemployed renters during COVID-19, reported Freddie Mac Multifamily, McLean, Va.

Vornado Realty Trust, New York, said Vornado Realty L.P., the operating partnership through which Vornado Realty Trust conducts its business, has extended one of its two unsecured revolving credit facilities to April 2026.