National Real Estate Investor, Nov. 3, 2017–Patricia KirkInvestment sales in the office sector continued to decline in the third quarter, Real Capital Analytics reported.
Category: Top National News
Broker Channel Launch Imminent at PennyMac
Mortgage Daily, Nov. 3, 2017Earnings and mortgage originations at PennyMac Financial Services Inc. saw quarter-over-quarter gains and year-over-year losses. A wholesale channel is about to open.
Job Gains Down in Q2 Mortgage Employment Index
Mortgage Daily, Nov. 6, 2017The number of people working in the mortgage business moved down on a quarterly basis. Hiring activity has significantly slowed, and the contraction is likely to continue.
Commercial Real Estate, Which Fueled Trump’s Fortune, Fares Well in Tax Plan
New York Times, Nov. 3, 2017–Alan RappeportAn industry familiar to President Trump appears to have emerged from the Republican tax rewrite relatively unscathed: commercial real estate.
GOP Tax Plan Would Shrink Mortgage Interest Benefit, Slash Corporate Tax Rate
Washington Post, Nov. 2–Damian Paletta; Mike DeBonis House Republican leaders on Thursday proposed legislation that would overhaul the U.S. tax code, slash corporate and individual income tax rates and jettison numerous tax breaks Americans and businesses have used for years to limit their tax bills.
Mortgage Rates Hold Steady But are Poised to Move Higher
Washington Post, Nov. 2, 2017–Kathy OrtonMortgage rates paused ahead of news from this week’s Federal Reserve meeting, the announcement of the nominee for the central bank’s new chairman and Friday’s employment report.
Supply Shortage in U.S. Sends Home Prices Higher
Wall Street Journal, Nov. 2, 2017–Laura Kusisto (subscription)Home prices climbed and sales declined during the third quarter as a chronic supply shortage continued to disrupt the housing market.
Fannie Mae Keeping an Eye on Servicers’ Hurricane Response
National Mortgage News, Nov. 2, 2017–Bonnie Sinnock (subscription)Expected losses from the recent hurricanes put a dent in Fannie Mae’s third-quarter earnings and the mortgage agency is keeping a close eye on how its servicers manage the pressures of the recovery effort.
Fannie Mae Makes $3Bn; One-Third of Single-Family Now Private Risk Transfer
HousingWire, Nov. 2, 2017–Jacob GaffneyThe largest financier of single-family homes in the nation, Fannie Mae, made $3 billion in the third quarter. That’s a decrease of $177 million from the second quarter of 2017 driven primarily by hurricane-related provision for credit losses.
U.S. Third Quarter Productivity Fastest in Three Years; Jobless Claims Fall
Reuters, Nov. 2, 2017–Lucia MutikaniU.S. worker productivity increased at its fastest pace in three years in the third quarter but the trend remained moderate, suggesting that a recent acceleration in economic growth was unlikely to be sustained.