As yet another extension of the nationwide pandemic eviction and foreclosure restrictions is put in place (at least for federally back mortgages), the mortgage industry is bracing for formidable challenges on a number of fronts.
Category: News and Trends
Dealmaker: Island Capital Group Acquires New York’s Lexington Hotel for $185M
Island Capital Group LLC, New York, acquired the Lexington Hotel in Midtown Manhattan for $185 million in a joint venture with MCR Investors LLC and Three Wall Capital LLC.
MBA DEI Leadership Awards: Nomination Deadline Aug. 13
Inspire change; share success. The Mortgage Bankers Association recognizes residential and commercial/multifamily members who show leadership in the areas of Diversity, Equity and Inclusion (DEI) internally through market outreach efforts with its annual DEI Leadership Awards.
People in the News August 11, 2021
SimpleNexus, Lehi, Utah, announced executive appointments in operations and revenue generation.
Andrew Foster: Multifamily Values Amid a Shifting Landscape
The summer has brought big news for the housing industry including but not limited to multifamily market participants.
Share of Mortgage Loans in Forbearance Decreases to 3.40%
New forbearance requests fell to a three-week low, the Mortgage Bankers Association reported Monday.
MBA: 2021 Commercial/Multifamily Lending to Increase 31% to $578 Billion
Commercial and multifamily mortgage bankers are expected to close $578 billion in loans backed by income-producing properties in 2021, a 31 percent increase from 2020’s volume of $442 billion, according to a new forecast released Tuesday by the Mortgage Bankers Association.
Quote
“With low for-sale inventory keeping home price appreciation in many markets at record highs, the jump in FHA purchase applications is potentially a sign that more first-time buyers are finding purchase options despite the high prices.”
–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.
Commercial/Multifamily Briefs from Reonomy, Fannie Mae
Data firm Reonomy, New York, expanded its Market Glance insights to 30 metropolitan statistical areas across Multifamily, Office, Retail, Industrial and Hospitality categories.
Share of Mortgage Loans in Forbearance Decreases to 3.40%
New forbearance requests fell to a three-week low, the Mortgage Bankers Association reported Monday.