Good morning! As we prepare to take a break over the holidays, here’s a wrap-up of housing and economic reports that came across the MBA NewsLink desk this week:
Category: News and Trends
Institutional Investors Expect Industrial Sector Performance to Continue
Institutional commercial real estate investors expect the industrial sector to perform best over the coming year–and the office sector to perform the worst–reported SitusAMC Insights, New York.
Dealmaker: Cushman & Wakefield Arranges $315M Orlando Office Sale
Cushman & Wakefield, Chicago, has arranged the sale and financing of SouthPark Center, a 10-building suburban office park in Orlando, Fla. The sale price equaled $315 million.
MBA Advocacy Update Dec. 24, 2021
As negotiations with a key senator stalled earlier this week, any final action on President Biden’s Build Back Better Act proposal will have to wait until next year. Also this week, MBA submitted comments to the Federal Housing Finance Agency in response to its notice of proposed rulemaking introducing additional public disclosure requirements in the regulatory capital framework applicable to Fannie Mae and Freddie Mac.
MBA Chart of the Week Dec. 23 2021: Percent of Current Loans
According to the MBA Monthly Loan Monitoring Survey, the share of loans in forbearance dropped to 1.67 percent of servicers’ portfolio volume as of November 30, after climbing to a monthly peak of 8.53 percent in May 2020.
MBA Opens Doors Foundation Adds Mark Jones, Rick Thornberry, Lamia Soghier to Board of Directors
The MBA Opens Doors Foundation announced three new members to its Board of Directors: Mark Jones, MBA 2022 Vice Chairman and Chief Executive Officer and Co-Founder of Amerifirst Home Mortgage; Rick Thornberry, Chief Executive Officer of Radian Group Inc.; and Dr. Lamia Soghier, Medical Unit Director of the Neonatal Intensive Care Unit with Children’s National Medical System.
CREF22 in San Diego Feb. 13-16
The Mortgage Bankers Association’s Commercial Real Estate Finance/Multifamily Housing Convention & Expo takes place Feb. 13-16 at the Manchester Grand Hyatt in San Diego.
Call for Nominations: MBA NewsLink 2022 Tech All-Star Awards; Deadline Jan. 21
The nomination period for the MBA NewsLink 2022 Tech All-Star Awards is underway with a new, simplified entry form. Nominations will be accepted through Friday, Jan. 21.
Quote
“Higher construction costs—labor, lumber, materials—are being passed on to buyers, resulting in higher new-home prices.”
–Odeta Kushi, Deputy Chief Economist with First American Financial Corp., Santa Ana, Calif.
MBA Forecast: 2021 Purchase Originations to Hit Record $1.6 Trillion
The Mortgage Bankers Association this week released its December Economic and Mortgage Market forecasts, showing overall 2021 mortgage originations expected to fall just short of last’s years record, but purchase originations expected to rise to a record $1.6 trillion—and go even higher in 2022.