Ahead of committee action in Congress this week on major infrastructure and economic legislation, the Mortgage Bankers Association and more than three dozen industry trade groups, as well as MBA’s grassroots advocacy arm, the Mortgage Action Alliance, urged senators and representatives to support and defend the real estate finance industry’s tax priorities.
Category: News and Trends
Dealmaker: Paragon, Canyon Partners Acquire California Retail Center for $15M
Paragon Commercial Group LLC, El Segundo, Calif., and Canyon Partners Real Estate LLC, Los Angeles, acquired Village Center, a 92,400-square-foot shopping center in Orange County, Calif., for $14.8 million.
Fitch Ratings: Life Insurers Have Significant Commercial Mortgage Default Headroom
Fitch Ratings, New York, said potential stress on U.S. life insurers’ commercial mortgage portfolios will not drive rating downgrades, given the industry’s strong capitalization, current loan quality and historical loss experience.
Black Knight: Tappable Equity Rises to Record-High $9.1 Trillion
Driven by the red-hot housing market, tappable equity – the amount available to homeowners before reaching a maximum 80% combined loan-to-value ratio – surged nearly 40% from last year to a record $9.1 trillion in the second quarter, said Black Knight, Jacksonville, Fla.
‘Zombie’ Properties Decline as Foreclosure Moratorium Lifts
ATTOM, Irvine, Calif., issued its third-quarter Vacant Property and Zombie Foreclosure Report showing 1.3 million residential properties in the United States sit vacant.
iBuyers Helping People Move in Record Numbers
Homeowners sold a record number of homes using an instant buying service in the second quarter and are poised to sell even more in the third quarter, said Zillow, Seattle.
Prashant Kothari of SitusAMC Insights: Title, Mortgage Industries Share Same Challenges; None Insurmountable
Prashant Kothari is Managing Director of SitusAMC’s Title Production Services and has nearly three decades of mortgage and title industry experience. He began his career in the mortgage division of Kidder, Peabody & Co. followed by multiple roles at Freddie Mac, including working in the Freddie’s Office of the President.
MBA Weekly Applications Survey Sept. 8, 2021: Volume at Two-Month Low
Mortgage applications fell for the second straight week to their lowest level sine mid-July, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending September 3.
Share of Mortgage Loans in Forbearance Decreases to 3.23%
Loans in forbearance fell slightly last week, the Mortgage Bankers Association reported Tuesday, as both requests for and exits from forbearance slowed at the end of August.
MBA Education Graduates First Level III Certified Mortgage Compliance Professional
MBA Education’s popular Certified Mortgage Compliance Professional certification and designation program recently awarded the CMCP designation to the first mortgage professional to complete all three levels of the program.