Colorado Springs Business Journal, Jan. 6, 2016–Vader, MarijaThe commercial real estate industry will continue its fast pace into 2016, according to Colorado Springs real estate agents, who attribute the quicker pace of transactions to the local favorable political climate locally.
Category: Top National News
JPMorgan Chase Names New Head of Mortgage Servicing
DS News, Jan. 6, 2016–Honea, Brian
Peter Muriungi has been chosen as JPMorgan Chase’s new head of Mortgage Servicing to replace Mike Weinbach, who was named CEO of Chase’s Mortgage Banking division in December.
Morgan Stanley Shake-Up Leaves Colm Kelleher as Top Lieutenant
Wall Street Journal, Jan. 6, 2016–Baer, Justin
Morgan Stanley co-President Gregory Fleming, a major figure on Wall Street who had long been considered a candidate to take over the firm, abruptly stepped down Wednesday after another deputy’s promotion ended his bid to become chief executive.
U.S. Apartment Rents Leap at Fastest Pace Since Crisis
Wall Street Journal, Jan. 6, 2016–Kusisto, Laura
Average effective rents nationwide rose 4.6% in 2015, the biggest gain since before the recession, according to a report by real-estate researcher Reis Inc. The average apartment rent now stands at nearly $1,180, up from about $1,125 a year ago.
Toxic Twins’ Potentially Poisonous New Brew
Wall Street Journal, Jan. 5, 2016–Stevens, David
MBA president and CEO, in letter to Wall Street Journal, said credit-risk transfers conducted by Fannie Mae and Freddie Mac require different approaches that minimize taxpayer risk.
Family Finances: the Mortgage Outlook for 2016
Chicago Tribune, Jan. 5, 2015–Mertz Esswein, Patricia (Kiplinger’s Personal Finance)
Mortgage credit is still tighter today than it was during the lead-up to the housing bust, but it has loosened a little every year since 2009. Whether you’re buying or refinancing, it’s easier to get a mortgage at rates that are still at historically low levels.
Foreign Investor Interest in Seattle Real Estate Ratchets Up
Puget Sound Business Journal, Jan. 5, 2016–Stiles, Marc Seattle is back on the list of the top five U.S. cities for foreign commercial real estate investment, according to a new survey.
Outlook 2016: Opportunities, Challenges and Insights for the Year Ahead
National Mortgage News, Jan. 5, 2015
As the mortgage industry begins the New Year, National Mortgage News takes a look at the biggest trends and topics that will shape 2016.
JPMorgan Pays $48 Million to Close Regulatory Order on Mortgage Servicing
Wall Street Journal, Jan. 5, 2015–Glazer, Emily
The Office of the Comptroller of the Currency said J.P. Morgan Chase & Co. would pay a $48 million civil penalty to end a regulatory order against the bank related to mortgage-servicing matters. EverBank, a Jacksonville, Fla., lender, also is exiting a so-called consent order with the OCC, paying $1 million as a civil money penalty to the bank regulator.
Houston Most at Risk Nationally for Falling Home Prices
Houston Business Journal, Jan. 5, 2015–Takahashi, Paul
Arch Mortgage Insurance Co. released its winter 2016 housing and mortgage market report, which found that energy-dependent cities such as Houston have a higher risk of experiencing lower home prices in the next two years.