PropLogix, Sarasota, Calif., a title support company providing tech-enabled due diligence services and software for closing professionals, announced it secured investment from Accel-KKR, Menlo Park, Calif., a technology-focused private equity firm.
Category: News and Trends
CoreLogic: Hurricane Ida Leaves $27-40 Billion in Losses
CoreLogic, Irvine, Calif., estimated residential and commercial wind, storm surge and inland flooding loss estimates for Hurricane Ida in Louisiana, Mississippi and Alabama at $27-$40 billion.
Dealmaker: Berkadia Secures $86M for Virginia Multifamily Property
Berkadia secured an $86 million loan to refinance Meridian at Braddock Station, a 480-unit high-rise multifamily property in Alexandria, Va.
CFPB Proposed Rule Focuses on Small Business Access to Credit
The Consumer Financial Protection Bureau on Wednesday proposed a new rule aimed at increasing transparency in the small business lending marketplace.
ADP: August Private-Sector Employment Up 374,000
In the first of three key snapshots of employment this week, ADP, Roseland, N.J., said private-sector employment increased by 374,000 jobs between July and August.
Administration Announces Steps to Increase Affordable Housing Supply
The Biden Administration on Wednesday announced a number of steps aimed at creating, preserving and selling to homeowners and non-profits nearly 100,000 additional affordable homes for homeowners and renters over the next three years, with an emphasis on the lower and middle segments of the market.
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“MBA strongly supports the administration’s efforts to increase the housing supply by encouraging the construction and rehabilitation of affordable apartments and homes for renters and first-time buyers. The lack of supply is a huge problem, and HUD and FHFA should do what they can administratively while Congress considers more significant initiatives. MBA looks forward to continuing to work with the administration, Congress, and all other stakeholders on ways to address supply constraints and ensure government programs appropriately complement private capital to help both renters and homeowners.”
–MBA President and CEO Bob Broeksmit, CMB.
MBA Weekly Applications Survey Sept. 1, 2021: Refis Down, Purchases Up
With refinance applications and purchase applications moving in different directions, overall mortgage application activity fell last week as interest rates held steady, the Mortgage Bankers Association reported Wednesday in its Weekly Applications Survey for the week ending Aug. 27.
Data Identification and Governance: Updated FFIEC Examination Manual Booklet Indicates Higher Expectations by Financial Institution Examiners
On June 30, the Federal Financial Institutions Examination Council issued a new booklet. We identified critical guidelines from the new booklet that will introduce fresh challenges to your financial institution.
MBA CONVERGENCE Webinar Sept. 16–Mayors and Affordable Housing: Perspective from City Hall
MBA CONVERGENCE presents the next in its Webinar Series, Mayors and Affordable Housing: Perspective from City Hall, on Thursday, Sept. 16 from 1:30-2:15 p.m. ET.