Radian, Philadelphia, said after a strong finish to the first half of 2021, home prices across the United States rose at an even faster pace in July.
Category: News and Trends
Share of Mortgage Loans in Forbearance Unchanged at 3.25%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans in forbearance remained
unchanged at 3.25% as of August 22. MBA estimates 1.6 million homeowners are in forbearance plans.
Migration of Homebuyers to Miami Triple Since Last Year
Last week saw two reports two reports that seemingly defied conventional wisdom—despite the very real effects of climate change, properties in some of the most vulnerable spots in the nation are actually attracting more interest—and higher prices. This week, another report shows Miami and other high-risk coastal areas continue to rank in the top 10 U.S. locations for net migration.
Data Centers Seeing Strong Growth
Data centers had a fantastic first half of 2021, with strong absorption delayed only by a lack of supply, reported Cushman & Wakefield, Chicago.
July Pending Home Sales Down 1.8%
Pending home sales dipped modestly in July, the National Association of Realtors said Monday, marking the second straight monthly downturn.
Commercial and Multifamily Briefs from KKR, JLL
KKR, New York, formed Strategic Lease Partners, a new platform to invest in triple-net lease real estate.
Dealmaker: Phillips Realty Capital Structures $58M for Florida Industrial Portfolio
Phillips Realty Capital, Bethesda, Md., closed a $57.5 million bridge loan for a four-property, 740,400-square-foot industrial portfolio in Miami and Tampa, Fla.
MBA Live – Risk Management, QA and Fraud Prevention Forum Sept. 28-29; Early Registration Deadline TODAY
The Mortgage Bankers Association’s Risk Management, QA and Fraud Prevention Forum, taking place through MBA Live Sept. 28-29, is the largest annual event for mortgage professionals in the risk, quality control, underwriting and fraud prevention divisions of residential mortgage firms across the country.
MBA Advocacy Update Monday Aug. 30 2021
On Tuesday, the House voted to adopt a $3.5 trillion budget resolution framework for Fiscal Year 2022. Also on Tuesday, MBA submitted a joint coalition letter to HUD on its disparate impact rule.
Quote
“The share of loans in forbearance changed little once again this week, as both new requests and exits remained at a slow pace. We expect a sharp increase in forbearance exits over the next month as many borrowers reach the 18-month mark and see their forbearance plans end. For those borrowers who have exited in August, the majority either enter deferral plans or obtain modifications.”
–Mike Fratantoni, MBA Senior Vice President and Chief Economist.