Los Angeles Times, May 29, 2023–Summer LinThe overall retail vacancy rate in Union Square increased to 15.5% in the first quarter. But San Francisco Mayor London Breed and other San …
Category: Top National News
How LLCs Can Protect Heirs From Property Tax Reassessments Under Prop. 19
Orange County Register, May 29, 2023–Jeff LazersonProperty inherited by children in California is reassessed for a new tax rate if the home isn’t used as a primary residence.https://www.ocregister.com/2023/05/26/how-llcs-can-protect-heirs-from-property-tax-reassessments-under-prop-19/
Bad ‘Environment’ for Housing: Foes Exploit Green Laws to Stop Projects
The Real Deal, May 26, 2023-Kathryn BrenzelOfficials in New York and California have taken aim at environmental reviews, which they blame for making housing development needlessly slower and more expensive.https://therealdeal.com/new-york/2023/05/26/bad-environment-for-housing-foes-exploit-green-laws-to-stop-projects/
J.P. Morgan Prepares to Float $451.4 Million in Prime Mortgage Debt
Asset Securitization Report, May 26, 2023–Donna Mitchell (subscription) A pool of high-quality, fixed-rate and fully amortizing mortgages with maturities of up to 30 years will back a $451.4 million sale …
All Major Property Types Post Annual Declines
Globest.com, May 26, 2023- Richard Berger (subscription) It’s been a dozen years since all the major property types posted annual declines in a single month (April), marking the first time …
Fitch Puts Fannie Mae, Freddie Mac on Negative Watch as US Debt Deadline Looms
Reuters, May 25, 2023 Fitch has placed the ratings of U.S. mortgage finance giants Fannie Mae and Freddie Mac on watch for a possible downgrade as U.S. lawmakers’ negotiations to …
Colonial Savings to Drop Originations, Refocus on Servicing, Banking
National Mortgage News, May 26, 2023–Bonnie Sinnock (subscription)Colonial Savings announced Thursday that it will cease originating mortgages and focus instead on its servicing and banking businesses.https://www.nationalmortgagenews.com/news/colonial-savings-to-drop-originations-refocus-on-servicing-banking
Correspondent Channel Gains Share Even with Wells’ Exit
Inside Mortgage Finance, May 26, 2023–John Bancroft (subscription)The correspondent channel gained market share in the first quarter of 2023, according to a new ranking and analysis by Inside Mortgage Finance.https://www.insidemortgagefinance.com/articles/227941-correspondent-channel-gains-share-even-with-wells-exit?
Colonial Savings to Drop Originations, Refocus on Servicing, Banking
National Mortgage News, May 26, 2023–Bonnie Sinnock (subscription)Colonial Savings announced Thursday that it will cease originating mortgages and focus instead on its servicing and banking businesses.https://www.nationalmortgagenews.com/news/colonial-savings-to-drop-originations-refocus-on-servicing-banking
Office Landlords Squeezed by Falling Occupancy Rates, Refinancing Difficulties. Here’s Why
Associated Press, May 25, 2023-Alex Veiga The failure of several large lenders earlier this year and the banking turmoil that followed have fueled worries for owners of office space such …