“Commercial and multifamily mortgage delinquencies fell for the third straight month in March and are now at their lowest level since the pandemic disrupted the economy and commercial real estate a year ago. There continues to be significant differences in loan performance by property type, with higher delinquencies rates for lodging- and retail-backed mortgages.”
–Jamie Woodwell, MBA Vice President of Commercial Real Estate Research.
The domino effect – an endless run of falling dominos winding through the residential home construction industry. That’s a vision we can easily conjure up when witnessing the ongoing impacts of steadily rising construction costs. And guess who is at the end of the domino chain, having to deal with the residual mess? Residential home appraisers and their lender clients.
Jerry Schiano is CEO of Spring EQ, Philadelphia, a nationwide refinance, home equity and HELOC lender.
Auction.com, Irvine, Calif., promoted Ali Haralson to president, a new position in the company that will oversee both sales and operations.
The Mortgage Bankers Association’s young professional’s group, mPact, welcomes a new chair this month for the Commercial Production Advisory Council, Berkadia’s Maggie Burke.
MISMO, the industry’s standards organization, developed iLAD through close collaboration across the industry, including with lenders, vendors, IT companies and GSEs. The MISMO Loan Application Data Exchange (LADE) Development Work Group is working to ensure these iLAD specifications will continue to evolve to meet industry needs.
Despite a slight decrease in mortgage interest rates—the first such decline in nearly two months—mortgage applications fell for the third straight week, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending March 26.
Home price appreciation continued its roar into the start of the year, with the Standard & Poor’s CoreLogic Case-Shiller Home Indices reporting double-digit percentage annual price growth in January.
The Conference Board, New York, said its Consumer Confidence Index jumped by nearly 20 points in March to its highest reading in a year, after a modest increase in February.
HUD released its quarterly report to Congress on the FHA Single-Family Mutual Mortgage Insurance Fund Programs. The report said the MMIF stands at more than $80 billion and remains well above the 2% minimum capital reserve required by Congress.
