Wall Street Journal, Apr. 18, 2017–Peter Grant (subscription)The U.S. office market became more tenant-friendly in the first quarter in many big cities as a seven-year expansion slowed, said Cushman & Wakefield.
Category: Top National News
Lawmakers Push for Tougher Disclosures on Energy Loans
National Mortgage News, Apr. 18, 2017–Brian Collins (subscription)Lawmakers from both political parties are showing an interest in improving disclosures for loans used to upgrade home heating and cooling systems, including the installation of solar panels, an idea that has some in the industry increasingly nervous.
Lenders: You Can Double Risk-Taking and Still Remain Below Pre-Crisis Levels
HousingWire, Apr. 18, 2017–Kelsey RamirezCredit availability remained steady in the fourth quarter of 2016, well below pre-recession levels, according to the Credit Availability Index from the Urban Institute’s Housing Finance Policy Center.
Profits Jumped in 2016 for Independent Mortgage Bankers in U.S.
World Property Journal, Apr. 17, 2017–Michael GerrityAccording to the Mortgage Bankers Association’s Annual Mortgage Bankers Performance Report, independent mortgage banks and mortgage subsidiaries of chartered banks in the U.S. made an average profit of $1,346 on each loan they originated in 2016, up from $1,189 per loan in 2015.
Oops! What if Flood Insurance Lapses?
Mortgage Compliance Magazine, Apr. 17, 2017No matter how or why lenders have required flood insurance on a property, if the flood insurance lapses during the term of the covered loan, it’s a problem.
Using Old Technology Is One Way To Drive Away Mortgage Customers
Mortgage Orb, Apr. 17, 2017–Josh FriendToday’s consumers are technologically savvy and demand a digital mortgage experience. Increasingly, they expect faster response times, engaging connection and a streamlined process from their mortgage companies. Although these demands are forcing new technological innovations, many mortgage companies are still far behind in meeting these needs.
M&T Bank’s Profit Rises on Accounting Change, Margin Improvement
American Banker, Apr. 17, 2017–Andy Peters (subscription)M&T Bank, Buffalo, N.Y., reported double-digit growth in first-quarter profit thanks to a change in its tax treatment of compensation and improved profit margins.
Despite Adverse Conditions, California Home-Buying Season Off to a Good Start
HousingWire, Apr. 17, 2017–Brena SwansonWhile low housing inventory and slow wage growth are par for the course in California, the state pushed past those roadblocks to record a strong start to the year.
Trump to Nominate Quarles for Fed’s Top Regulatory Post, Source Says
Bloomberg, Apr. 17, 2017–Robert Schmidt; Jennifer JacobsPresident Donald Trump plans to nominate Randal Quarles, a senior Treasury official in the Bush administration, to be the Federal Reserve’s top banking regulator.
Commercial Mortgages: Debt Funds Seek to Fill a Void
Richmond (Va.) Times-Dispatch, Apr. 17, 2017–Andrew Little Debt funds–non-bank lenders formed with contributed equity from institutional investors–are seeking to fill the void left as bank lenders have dialed back their leverage levels.