Commercial Property Executive, Jan. 18, 2021–Paul FiorillaRumors that the outgoing Trump administration would spring an 11th-hour effort to privatize Fannie Mae and Freddie Mac were set to rest last week …
Category: Top National News
Retail Sales Decline for Third Straight Month
CNN Business, Jan. 15, 2021–Nathaniel Meyersohn, Anneken TappeU.S. retail sales dropped last month, the Commerce Department said Friday, marking the third straight month without any growth.https://www.cnn.com/2021/01/15/economy/december-retail-sales/index.html
Penn Station’s Revival Gets a $1.6 Billion Down Payment
Bloomberg, Jan. 15, 2021–James RussellIn 2016, Governor Andrew Cuomo, who has made speeding up infrastructure projects a priority, willed the train hall we can see today into being. The tenacious …
Figure Lending Lands $100M Funding Facility
HousingWire, Jan. 15, 2021–James KleimannSoFi co-founder Mike Cagney’s latest digital mortgage operation Figure Lending closed on a $100 million funding facility from JPMorgan Chase this week.https://www.housingwire.com/articles/figure-lending-lands-100m-funding-facility/
America’s Big Banks Girded for a Wave of Bad Loans. They’re Still Waiting
Wall Street Journal, Jan. 15, 2021–David Benoit, Ben Eisen (subscription)JPMorgan Chase & Co. posted a record quarterly profit while Citigroup Inc. and Wells Fargo & Co. both posted higher-than-expected earnings …
Technology And Regulation: The Mortgage Industry’s Balancing Act
Forbes, Jan. 15, 2021–Kiran VattemIt’s a widely accepted belief that the mortgage industry has been slower to adopt and implement the types of innovative technologies that are prevalent in other …
Wealthy Homeowners are Getting Richer, While First-Time Buyers Struggle
CNN Business, JAn. 15, 2021–Anna BahneyThe homeownership divide had already been growing since 2007, when the Great Recession hit, according to research from the Mortgage Bankers Association’s Research Institute for …
The Trump Administration Plays its Last Cards on Fannie and Freddie
Urban Institute, Jan. 15, 2021–Jim ParrottThe author summarizes the Trump administration’s final steps to reform Fannie Mae and Freddie Mac, concluding that it builds some modest momentum for their release …
Builders Can’t Keep Up
UExpress, Jan. 15, 2021–Lew SichelmanUsually, sales and new home starts move almost in lockstep. But these are not normal times. In its latest poll, marketing and research firm Zonda found …
Why Finding Workers is Getting Harder for U.S. Homebuilders
Bloomberg, Jan. 15, 2021–Arianne CohenAs industries go, residential construction in America has largely weathered the pandemic thanks to steady demand and low interest rates. Worksites nationwide are humming with good, …