New York Post, June 27, 2017–Steve CuozzoManhattan’s office market could be headed for trouble despite today’s solid-seeming condition and euphoria over big chunks of space being gobbled up by marquee tenants at glamorous new towers.
Category: Top National News
Banking Lobby Pushes for CFPB Commission
Scotsman Guide, June 26, 2017–Victor WhitmanMost of the nation’s largest trade groups, including the Mortgage Bankers Associaton, signed onto a letter recently sent to leaders of the U.S. Senate and House appropriations committees to make the case that Congress should restructure the CFPB as a five-panel bipartisan commission.
Lenders Ease Credit Standards in Second Quarter
National Mortgage News, June 26, 2017–Brad Finkelstein (subscription)Mortgage lender credit standards eased during the second quarter as purchase volume was lower than expected and competition increased, Fannie Mae said.
Fidelity National Financial Buys Major Stake in Title Guaranty of Hawaii
HousingWire, June 26, 2017–Ben LaneAs part of the deal, the current owners of Title Guaranty, the Pietsch family, will maintain a small ownership stake in the company.
These Are the U.S. Cities Where It Costs Too Much to Build
Bloomberg, June 26, 2017–Patrick ClarkExisting homes are in short supply for both buyers and renters, from bustling coastal metropolises to smaller inland cities. Home seekers are bidding up prices and historically low ownership rates mean more people are renting, triggering fierce competition for leases.
U.S. Durable Goods Orders Fall 1.1% in May
Wall Street Journal, June 26, 2017–Ben Leubsdorf (subscription)Demand for long-lasting factory goods declined in May for the second straight month, driven by a pullback in airplane orders as the U.S. manufacturing sector continues to find its footing.
Berkshire Hathaway Makes $377 Million Bet on Commercial Real Estate
Wall Street Journal, June 26, 2017–Nicole Friedman; Imani Moise (subscription)Warren Buffett’s Berkshire Hathaway made its second big real estate bet in two weeks. Its investment in real estate investment trust Store Capital Corp. made it the REIT’s third-largest shareholder.
“Live Life” Despite Cancer
LinkedIn, June 27, 2017–David Stevens, CMBMBA President and CEO discusses his recent battle with cancer.
Senior Mortgage Executives’ Non-GSE Outlook Strong
Mortgage Daily, June 26, 2017Senior mortgage banking executives expect demand for non-agency programs will intensify. At the same time, the group expects requirements on such programs to ease.
Finance of America Lending/Servicing/Staffing Down
Mortgage Daily, June 26, 2017Quarterly mortgage originations were slower at Finance of America Holdings LLC. Also down was the lender’s staffing and servicing portfolio.