Last week, Treasury Department Secretary Janet Yellen and Federal Reserve Chair Jerome Powell appeared before Congress to give their quarterly CARES Act update. On Tuesday, HUD announced FHA’s temporary allowance of endorsement of loans in forbearance will not be renewed and will expire on March 31.
Category: News and Trends
Pandemic a ‘Boon’ for Home Improvement
While the U.S; economy shrank by 3.5 percent in 2020, spending on home improvements and repairs grew more than 3 percent, to nearly $420 billion, as households modified living spaces for work, school and leisure in response to the COVID-19 pandemic, according to Improving America’s Housing 2021, a new report by the Harvard Joint Center for Housing Studies.
MBA Chart of the Week Mar. 26, 2021: IMB Production Revenues
In this Chart of the Week, we compare in basis points the average quarterly credit spreads between the 30‐year mortgage rate (as surveyed by Freddie Mac) and the 10‐year Treasury yield to production revenues (fee income, secondary marketing income and warehouse spread).
A ‘Resilient’ Net-Lease Retail Sector
As pandemic-related economic uncertainty loomed last year, investors looked to single-tenant net-leased properties for financial security and less volatility, said Colliers International, Toronto.
Dealmaker: Cushman & Wakefield Arranges $101M Multifamily Property Sale
Cushman & Wakefield, Chicago, arranged the $101.25 million sale of a five-property portfolio totaling 1,011 apartment units in Orlando and Tampa, Fla.
The Week Ahead—Mar. 29, 2021
The Mortgage Bankers Association’s Spring Summit–four conferences in one–is less than a month away.
People in the News Mar. 29, 2021
Auction.com, Irvine, Calif., promoted Ali Haralson to president, a new position in the company that will oversee both sales and operations.
mPact’s Commercial Production Advisory Council Welcomes Maggie Burke as Chair
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.
Quote
“The past year was one of the darkest periods we’ve seen in commercial office leasing history. Amid the uncertainty of just how the pandemic would impact businesses and their employees, we went from a period of healthy demand for office space to zero demand almost overnight–it was an alarming swing.”
–Nick Romito, CEO of VTS, New York.
Top 5 Things You Should Know About Being iLAD Ready
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.