NEXT, Sept. 14, 2022California-based Point Mortgage Corporation is “temporarily” shutting down its wholesale business GoPointDirect to focus on retail lending. The company is also laying off seven employees, per HousingWire.https://nextmortgagenews.com/news/another-lender-backs-out-of-wholesale/
Category: Top National News
SFR Issuance Remains Hot, But Beware These Headwinds
GlobeSt.com, Sept. 13, 2022–Lynn PollackWhile CMBS lending is cooling on some fronts, single-family rental issuance is “about as hot as Stephen Curry in an NBA 3-point shooting contest,” says Trepp’s …
How COVID-19 Exemplified The Strength Of Retail-Anchored Corporate Real Estate
Forbes, Sept. 13, 2022–Fred BattistiCommercial real estate has grown bifurcated since the early stages of COVID-19. Some assets, such as grocery-anchored retail centers, have proven resilient and are now viewed …
How Real Estate Companies Are Tackling the Affordability Issue in the Housing Market
Newsweek, Sept. 13, 2022–Johnny HannaIn recent weeks, you’ve read headlines saying bidding wars are less dramatic and prices are dropping for the first time in 18 months. Potential buyers can …
Serious Mortgage Delinquencies Down 57% Since Last Year
National Mortgage News, Sept. 13, 2022–Brad Finkelstein (subscription)The share of seriously delinquent mortgage loans in June declined 57% on a year-over-year basis, the driver of a drop in the overall …
PIMCO Back Bidding on Non-QMs. Did It Ever Leave?
Inside Mortgage Finance, Sept. 13, 2022–Paul Muolo (subscription)Ever since the July collapse of its residential lending affiliate First Guaranty Mortgage Corp., PIMCO has taken a less active role as a …
All Major Categories Point Toward Home-Market Slowdown
GlobeSt.com, Sept. 13, 2022–Paul BergeronHousing inventory in 35 key markets overall was down 35% year-over-year in January, down 8% YoY in March and is now up 79% YoY, according to …
Property Faces a Slow Reckoning as Interest Rates Rise
Wall Street Journal, Sept. 13, 2022–Carol Ryan (subscription)For property owners, rising interest rates bring back uncomfortable memories of the years leading up to the 2008 financial crisis. Commercial landlords who …
Inflation, Home Prices Headed Downward: Fed Report
HousingWire, Sept. 12, 2022–Bill ConroyInflation is expected to continue “to decline across all horizons” over the next year while home prices, too, are projected to decline “sharply” to the lowest …
Goldman Sachs Plans to Cut Hundreds of Jobs
Wall Street Journal, Sept. 12, 2022–Charley Grant (subscription)Goldman Sachs Group Inc. is preparing to lay off hundreds of staffers as soon as next week.The job cuts are part of the …