Bloomberg May 9, 2023–Natalie Wong, Amanda AlbrightManhattan’s commercial real estate market is reeling, offices are sitting partially empty and rising interest rates threaten to bring widespread defaults. But for a …
Category: Top National News
Guild Delivers $37M Loss in Q1 Amid CEO transition
HousingWire, May 8, 2023–Flávia Furlan NunesIn the first quarter, California-based lender Guild Mortgage, which announced a leadership transition in March, continued to face pressures from high mortgage rates and low …
Finance of America Posts a Profit, Aims to Rule HECM Market
National Mortgage News, May 9, 2023–Andrew Martinez (subscription)Finance of America recorded a slight profit to begin the year as it hones its new identity as the nation’s top reverse mortgage …
The Decline of the Five-Day Commute Is a Boon to Suburban Retail
Wall Street Journal, May 9, 2023–Kate KingA growing number of retailers in city office districts are relocating their businesses to the suburbs, where visits to shopping centers are on the …
Home Prices Fell in Third of the U.S. During First Quarter
Wall Street Journal, May 9, 2023–Nicole Friedman (subscription)During the peak of the housing boom, home prices surged in practically every corner of the U.S. Now, the housing market is split …
Chase to Surpass Wells as Largest Servicer
Inside Mortgage Finance, May 9, 2023–John BancroftA new Inside Mortgage Finance analysis shows that the aggregate owned servicing of the top 50 firms grew just 0.3% during the first quarter …
Mortgage Credit Availability At Lowest Level In 10 Years
National Mortgage Professional, May 9, 2023–David KrechevskyMortgage credit availability decreased in April to the lowest level in 10 years, the Mortgage Bankers Association said Tuesday.https://nationalmortgageprofessional.com/news/mortgage-credit-availability-lowest-level-10-years
SFR Rents Rise in Q1 But Properties are Staying on the Market Longer
GlobeSt.com, May 9, 2023–Barbara BallingerThe country’s median national rent for single-family detached homes climbed to $2,395, a big 19.75% leap from the same period two years ago and a 6% …
Cracks in the Foundation?
The MReport, May 9, 2023–Eric C. PeckFor those who lived through the financial crisis of 2007-2008, the vibe in early March of 2023 couldn’t help but evoke a dark chapter …
Banks Tighten Credit Terms, See Loan Demand Drop, Fed Survey Shows
Reuters, May 8, 2023–Howard Schneider, Ann SaphirCredit conditions for U.S. business and households continued tightening in the first months of the year, according to a Federal Reserve survey of bank …