Bloomberg, Oct. 14, 2020–Prashant GopalHigh-end sales jumped 42% in the third quarter from a year earlier, according to a report from brokerage Redfin. That’s the largest jump dating back to …
Category: Top National News
Goldman’s Pandemic Hot Streak Continues in Third Quarter
Wall Street Journal, Oct. 14, 2020–Liz Hoffman (subscription)Goldman Sachs Group Inc. said Wednesday its third-quarter profit nearly doubled, the latest confirmation that even in a pandemic and a recession, Wall …
How Did Wells Fargo and Bank of America’s Mortgage Business Perform in the Third Quarter?
HousingWire, Oct. 14, 2020–James KleimannThough its earnings were disappointing overall, residential lending at Wells Fargo rebounded in the third quarter, both in terms of income and origination volume.https://www.housingwire.com/articles/how-did-wells-fargo-and-bank-of-americas-mortgage-businesses-perform-in-the-third-quarter/
The Two California Ballot Measures that Worry Commercial Lenders
National Mortgage News, Oct. 14, 2020–Bonnie Sinnock (subscription)Both the Mortgage Bankers Association and the California MBA worry these ballot measures could complicate property ownership in ways that could have a …
The Pandemic Sharpened Sea Changes Brewing for Years in Residential Real Estate
Barrons Magazine, Oct. 14, 2020–Virginia K. SmithResidential real estate markets across the globe have seen dramatic shifts since March, as buyers rush to find more spacious properties, no longer tethered …
Mortgage Rates in U.S. Fall to New Record Lows, MBA Report Says
UPI, Oct. 14, 2020–Clyde HughesMortgage rates in the United States have fallen to a new record low but applications are down, an industry report said Wednesday.https://www.upi.com/Top_News/US/2020/10/14/Mortgage-rates-in-US-fall-to-new-record-lows-MBA-report-says/9401602681188/
Many FHA Borrowers Are Struggling, And That Means FHA Loans Are Harder to Get
Bankrate.com, Oct. 14 2020–Jeff OstrowskiWith their lenient standards for down payments and credit scores, Federal Housing Administration mortgages offer a lifeline to buyers trying to squeeze into an increasingly unaffordable …
Luxury Home Sales Surge, Highlighting Housing Wealth Gap
Crain’s New York Business, Oct. 14, 2020Demand for luxury homes is soaring, underscoring how the pandemic has intensified wealth disparities in the U.S.https://www.crainsnewyork.com/residential-real-estate/luxury-home-sales-surge-highlighting-housing-wealth-gap
Blackstone-Owned Lender and Servicer Finance of America to Go Public
HousingWire, Oct. 13, 2020–James KleimannEnd-to-end lending and services platform Finance of America Capital is the latest mortgage company to get in on the mushrooming IPO craze.https://www.housingwire.com/articles/blackstone-owned-lender-and-servicer-finance-of-america-to-go-public/
Abandoned City Offices Are Still a Safer Property Bet
Wall Street Journal, Oct. 14, 2020–Carol Ryan (subscription)For clues about how remote working may hit demand for offices, investors can look at the uneven impact of e-commerce on retail landlords.https://www.wsj.com/articles/abandoned-city-offices-are-still-a-safer-property-bet-11602666730?