Forbes, May 8, 2017–Brad ThomasThe commercial real estate market is in enjoying extra innings of the cycle and that means investors should stay focused for opportunities to diversify and take advantage of the continued economic recovery.
Category: Top National News
Banks Want Mnuchin to Intervene in Fight Over New Loan Rule
Wall Street Journal, May 8, 2017–Michael Rapoport (subscription)Banks are trying to enlist the Trump administration to fight a new accounting rule requiring them to book losses on soured loans more quickly, potentially setting the stage for a clash between the Treasury Department and the Securities and Exchange Commission.
The Greatest Post-2008 Housing Recovery Is…
National Mortgage Professional, May 8, 2017–Phil HallAccording to new data, San Jose and San Francisco scored the greatest post-crash price growth. Since 2011, San Jose saw a 57 percent housing price upswing, with a median home price reaching $835,200 in 2016, while San Francisco recorded a 53 percent post-crash price growth to a 2016 median home price of $754,500.
Mortgage Insurers on a Mission to Rebuild Trust
National Mortgage News, May 8, 2017–Brad Finkelstein (subscription)It’s been nine years since the first of three major failures of private mortgage insurance carriers during the financial crisis, the result of widespread foreclosures that decimated capital reserves across the entire business.
Fannie, Freddie Detail Plans to Help Mobile Home Market
National Mortgage News, May 8, 2017–Kate Berry (subscription)Fannie Mae and Freddie Mac issued proposals Monday to create pilot programs for loans on mobile homes, part of an ambitious federal effort to find creative solutions for underserved and rural housing markets.
Former Ginnie Mae President Says Fannie and Freddie Reform Takes ‘Real Work’
HousingWire, May 8, 2017–Brena SwansonJoseph Murin, former president of Ginnie Mae from 2007 to 2008 under former President George W. Bush, is pretty confident that the 115th Congress can finally tackle GSE reform, he told the Mortgage Bankers Association in this MBA Insights piece.
MERS Wins in Four Pennsylvania County Lawsuits
HousingWire, May 8, 2017–Brena SwansonThe Commonwealth Court of Pennsylvania, by a majority opinion, ruled in MERS’ favor in four lawsuits filed by the Recorders of four Pennsylvania Counties (Delaware, Berks, Bucks and Chester), locking in another victory for the company.
Mortgage Demand Mixed at Banks
Mortgage Daily, May 8, 2017Although demand has increased at some banks for a variety of single-family products, there tend to be just as many banks with falling demand for those very same loans, the Federal Reserve said.
Failed Wisconsin Bank to Cost FDIC Nearly $150 Mil
Milwaukee Journal Sentinel, May 8, 2017–Paul GoresGuaranty Bank, unable to ever recover from devastating loan losses stemming from the housing and foreclosure crisis, failed and was shut down by regulators Friday.
Banks Increasingly Skeptical of CRE Loans: Fed Report
American Banker, May 8, 2017–John Heltman (subscription)The quarterly Senior Loan Officer Opinion Survey found that significant numbers of loan officers report they are widening the spreads for all kinds of CRE loans, seeing lower loan-to-value ratios and in some cases reducing their service areas.