The steep run-up in interest rates, especially mortgage rates, since the start of the year prompted the mini survey I conducted in early March. It consisted of 10 questions that were put to 17 senior mortgage banking experts.
Category: News and Trends
DBRS: Hotel Pandemic Distress Less Than Prior Downturns
COVID-19 hit the hotel sector hard. DBRS Morningstar, Toronto, reported hotels had the highest loan modification rate among major property sectors due to the pandemic but said liquidations were lower than prior downturns.
Housing Starts Give Spring Home Buying Season Early Momentum
These days, is there really a spring home buying season? Especially when every month feels like buyers are knocking down every available door? Even, so, the New Residential Construction report from HUD and the Census Bureau portends what could be an even busier period for the housing market.
Unemployment Claims Down 214,000
Initial claims for unemployment insurance fell by 15,000 last week, the Labor Department reported Thursday, moving more toward “normal” numbers post-pandemic.
Senate Banking Committee Moves Thompson Nomination to Head FHFA
The Senate Banking Committee on Wednesday approved Sandra Thompson’s nomination to serve as Director of the Federal Housing Finance Agency. The Mortgage Bankers Association issued a statement commending the vote.
Dealmaker: JLL Income Property Trust Acquires Nevada Medical Office Building
JLL Income Property Trust, Chicago, acquired South Reno Medical Center, a 32,000-square-foot medical office property in Reno, Nev., for $14.6 million.
Rick Triola of NotaryCam: It’s Time for a New Definition of Equity
The mortgage industry more aptly seemed to agree to assign the word “historic” to 2021, specifically when referencing the mortgage industry and its production and growth during the year. So, what word will define 2022 in the mortgage industry? Equity.
MBA National Advocacy Conference in Washington Apr. 26-27
The Mortgage Bankers Association’s annual National Advocacy Conference takes place Apr. 26-27 at the Renaissance Downtown Hotel in Washington, D.C.
Quote
“Thompson’s experience, including as the Acting Director, and knowledge of real estate finance will serve her well as she continues to lead FHFA. We now call on the full Senate to confirm her nomination quickly.”
–MBA President & CEO Robert Broeksmit, CMB, on the Senate Banking Committee’s approval of Sandra Thompson’s nomination as Director of the Federal Housing Finance Agency.
MBA: February Builder Applications Down 1% from January; 4% from Year Ago
Mortgage applications for new home purchases fell by 1 percent in February from January and by nearly 4 percent from a year ago, the Mortgage Bankers Association reported Thursday.