Reuters, Aug. 16, 2017–Lucia MutikaniU.S. homebuilding unexpectedly fell in July as the construction of multifamily houses tumbled to a 10-month low, but strong job growth is expected to continue to support the housing market recovery.
Category: Top National News
Start-Up Seeks to Disrupt Disrupters in Real Estate
Washington Post, Aug. 15, 2017–Jill Chodorov Kaminsky A Princeton, N.J. startup, REX, seeks to disrupt multiple-listing services.
Some Apartment Markets Are Facing Challenges
National Real Estate Investor, Aug. 15, 2017–Bendix AndersonIn a few overbuilt downtowns, apartment rents are starting to fall. But experts claim that demand for apartment units continues to be so strong, the trend won’t last for long.
Second-Mortgage Default Rate Gets a Hair Higher
National Mortgage News, Aug. 15, 2017 (subscription)Both first- and second-lien mortgage default rates last month were higher than in June, and second-lien defaults also edged up from where they were a year ago.
S&P/Experian: Mortgage Default Rate at Lowest Level in a Decade
HousingWire, Aug. 15, 2017–Brena SwansonDespite a slight increase in July, the default rate for first mortgage loans still sits at its lowest point in the last 10 years, according to the latest S&P/Experian Consumer Credit Default Indices.
U.S. Mortgages Outstanding Grow, HELOCs Shrink
Mortgage Daily, Aug. 15, 2017On a quarterly basis, the nation’s book of mortgages expanded, though home-secured credit lines contracted. Mortgage delinquency improved.
Wells Fargo Elevates Former Fed Governor Elizabeth Duke to Chairman Role
Wall Street Journal, Aug. 15, 2017–Emily Glazer (subscription) Wells Fargo & Co. said Elizabeth Duke would replace its chairman, Stephen Sanger, on Jan. 1, making the former Federal Reserve governor the first woman to hold a top board role at one of the nation’s largest banks.
FHA Endorsements Rise, Delinquency Down
Mortgage Daily, Aug. 15, 2017Monthly new business at the Federal Housing Administration moved higher, while an improvement was recorded for delinquency. The agency grew its residential and commercial books of business.
Anchors Away! The Good News About Big-Box Closings
Commercial Property Executive, Aug. 15, 2017–Daniel HalprinThe departure of a department store or big-box retailer may actually represent an opportunity for landlords.
Investment Firm Acquires Wholesale Mortgage Lender
Mortgage Daily, Aug. 15, 2017A private investment firm has has taken an interest in a Silicon Valley wholesale mortgage lender, enabling a geographic expansion and entry into new lending channels.