Blackstone Real Estate, New York, acquired 2 & 3 MiamiCentral from Shorenstein Properties, New York, for $230 million.
Category: News and Trends
MBA: IMB Production Profits Remain Strong in Fourth Quarter
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $3,738 on each loan they originated in the fourth quarter down from a reported gain of $5,535 per loan in the third quarter, according to the Mortgage Bankers Association’s latest Quarterly Mortgage Bankers Performance Report.
MBA: Share of Loans in Forbearance Falls to 5.05%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance fell by 9 percent to 5.05% of mortgage servicers’ portfolio volume as of March 14 from 5.14% the week earlier–the lowest level in nearly a year. MBA estimates 2.5 million homeowners are in forbearance plans.
MBA Opens Doors Foundation Announces Alliance with The Children’s Hospital at Saint Francis
The MBA Opens Doors Foundation announced a new alliance with The Children’s Hospital at Saint Francis in Tulsa, Okla. The alliance is the Foundation’s first in Oklahoma and brings the number of children’s hospitals in its network to 13.
Quote
“We write with strong support of the Housing Supply and Affordability Act and urge its swift passage in Congress. The legislation is an innovative and bipartisan approach to addressing one of the most critical issues of our time: housing affordability.”
–From an MBA/coalition letter to Congress in support of the Housing Supply and Affordability Act.
(Switching Gears) William Tessar: Investor Loans–Where the Smart Originator Will Be When Rates Go Up
With the benchmark 30-year fixed rate beginning to creep higher, however, we may start to face a new reality. That’s why smart originators are already thinking about how to generate business when the refi dust settles. And many are setting their sights on the real estate investor channel, because the opportunities for business growth are incredible.
MBA Urges Treasury, FHFA to Reconsider GSE Purchase Caps
The Mortgage Bankers Association on Monday asked for a meeting with Treasury and Federal Housing Finance Agency officials to address MBA member concerns over newly imposed limits on government-sponsored enterprise operations that could cause potential disruptions to the housing finance system.
Multifamily Market Musings: Q&A with MBA’s Sharon Walker
MBA NewsLink interviewed MBA Associate Vice President of Commercial/Multifamily Sharon Walker, who represents MBA members active in multifamily finance. She advocates on policy issues primarily related to Fannie Mae, Freddie Mac and the Federal Housing Administration and oversees numerous related committees, working groups, councils and events.
Alan Parris: Using Digital Marketing to Build Relationships with the Next Big Home Buyer Generation
Today’s customers live online and expect relevant, personalized content and messaging that resonates with their individual wants and needs. That leaves plenty of opportunity for lenders to connect with this massive cohort by providing value and education.
Michael Barone and Scott Weintraub: The New 1003 and Mortgage March Madness
Unlike the NCAA basketball tournament, March Madness in the mortgage industry began very early in March and will last beyond the NCAA Championship game on April 5. By adjusting their application best practices and keeping a keen eye out for upsets for the next few months, lenders can stop upsets before they happen and avoid a busted bracket.