National Mortgage News, Feb. 9, 2016–Berry, Kate
Many institutional investors are refusing to purchase mortgages loans until they get assurance from the Consumer Financial Protection Bureau that they won’t have to pay for others’ mistakes. Their pullback could further the slow the issuance of private-label mortgage bonds this year, a huge concern at a time when the majority of home loans are insured by Fannie Mae, Freddie Mac and the FHA.
HousingWire, Feb. 9, 2016–Lane, Ben
According to the Consumer Financial Protection Bureau’s addendum, the supplementary information states that “property insurance premiums, property taxes, homeowner’s association dues, condominium fees and cooperative fees” are “subject to tolerances,” when it should read that those fees are “not subject to tolerances.”
KHOU (Houston), Feb. 9, 2016–Barr, Alice
The low price of oil is bringing on more uncertainty for a big chunk of Houston’s economy. Thousands of layoffs have rocked the oil and gas industry, and there’s no clear picture of when things could get better.
Sacramento Bee, Feb. 9, 2016–Kasler, Dale
CalPERS completed one of the biggest real estate investments in its history, purchasing a New York office tower for $1.9 billion.
Huffington Post, Feb. 9, 2016–Nussenbaum, Max
Pop quiz: what do real estate agents have in common with car salesmen, telemarketers, and members of Congress? Answer: They’re among Americans’ least-trusted professions, according to a recent Gallup poll.
Real Estate Journals, Feb. 8, 2016
Freddie Mac at the MBA Commercial Real Estate Finance Conference announced the lenders that closed the most multifamily financing volume with the company last year. CBRE Capital Markets and Berkadia Commercial Mortgage topped the list.
Wall Street Journal, Feb. 8, 2016–Coumarianos, John
It has paid to own property stocks since the financial crisis. But can real estate investment trusts keep the returns going for investors?
Christian Science Monitor, Feb. 8, 2016–Hinckley, Story
Quicken Loans, America’s largest online lender, previewed their fast and easy Rocket Mortgage app during the Super Bowl Sunday, causing some financial experts to criticize a 2008-like mindset.
Associated Press, Feb. 8, 2016–Crutsinger, Martin
Things looked so clear back in mid-December when the Federal Reserve signaled the likelihood of four more interest rate hikes in 2016. But as Fed Chair Janet Yellen addresses Congress this week, most analysts and investors think the Fed will raise rates fewer than four times this year, if at all.
Bloomberg, Feb. 8, 2016–Laurent, Lionel
Some of Europe’s bank stocks haven’t been this low in decades. Two of the region’s lenders are embroiled in their own bloodbath as regulators force them to cut off some of their own limbs: Deutsche Bank’s stock is trading at its lowest since 1992 and Credit Suisse is at its lowest since 1991.
