Reuters, Aug. 1, 2017–Lucia MutikaniThe Institute for Supply Management said its index of national factory activity fell to 56.3 last month from 57.8 in June, which was the highest level since August 2014.
Category: Top National News
Pullback Continues in the Investment Sales Market for Apartment Properties
National Real Estate Investor, Aug. 1, 2017–Bendix AndersonInvestors spent a lot less money on apartment properties so far this year compared to 2016, but prices in the sector keep rising anyway.
Credit Score Senate Bill Introduced
Mortgage Daily, Aug. 1, 2017The bill would direct the Federal Housing Finance Agency to create a mechanism that opens up Fannie Mae and Freddie Mac to alternative empirically derived and statistically sound credit scoring models.
New 10-Yr Low for Fannie’s Mortgage Delinquency
Mortgage Daily, Aug. 1, 2017Residential loan performance at Fannie Mae was the best it’s been in almost a decade. New business was also better.
Life Insurers Smell Opportunity in CRE, Multifamily Lending
American Banker, Aug. 1, 2017–Laura Alix (subscription)Life insurance companies are trying to chip away at banks’ dominant market share in commercial real estate lending, the Mortgage Bankers Association said.
New York Apartment Vacancies Projected to Soar
Wall Street Journal, Aug. 1, 2017–Josh Barbanel (subscription)A new report predicts New York City apartment vacancy rates will soar to more than 11% by the end of next year. The scenario, which some local housing analysts rejected, would mean a grim reckoning for landlords.
Goldman Sachs Reached $725 Million in Consumer Relief in $5 Billion Settlement
HousingWire, Aug. 1, 2017–Ben LaneGoldman Sachs recently moved past the 40% mark in its $1.8 billion consumer relief obligation that is part of the company’s $5 billion settlement reached in April 2016 over toxic mortgage bonds, the settlement’s monitor said in a new report.
The Financial and Housing Market Rescue Left Many Americans Behind
MarketWatch, July 31, 2017–Andrea RiquierFederal policy meant to stabilize the financial system and housing market has worsened inequality, with particularly damaging implications for the housing market, a new report argues.
Fed’s Fischer: Weak Economy is Keeping Interest Rates Low
CNBC, July 31, 2017–Jeff CoxIn a speech Fed Vice Chair Stanley Fischer said low interest rates send “a powerful signal that the growth potential of the economy may be limited.”
Regulator Won’t Seek Delay of CFPB’s Arbitration Rule
Wall Street Journal, July 31, 2017–Yuka Hayashi (subscription)Acting Comptroller of the Currency Keith Noreika said Monday he wouldn’t seek to delay a new rule on arbitration agreements, skirting a showdown with another agency.