Zillow, Seattle, said incremental increases in homeownership rates and home values among Black households would help shrink the current $3 trillion racial wealth gap by hundreds of billions of dollars over the next decade.
Category: News and Trends
Dealmaker: Merchants Capital Secures $18M for NYC Affordable Housing Capital Improvements
Merchants Capital’s New York office closed an $18.2 million Housing Development Corporation Fannie Mae Risk Share loan for Mannie Wilson Towers, a historic affordable housing development in Manhattan’s Harlem neighborhood.
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“Commercial and multifamily mortgage delinquency rates declined in April but remain elevated overall, driven by the continuing challenges facing many hotel and retail properties”–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.
1Q GDP Report Shows Accelerating Economy
Real gross domestic product increased at an annual rate of 6.4 percent in the first quarter—the fastest such pace in more than 36 years—according to the first (advance) estimate released by the Bureau of Economic Analysis.
CFPB: Consumer Complaints Higher in Predominantly Minority Areas
The Consumer Financial Protection Bureau issued a bulletin this week analyzing complaints submitted by consumers in counties nationwide. The Bureau reported in 2019 and 2020, it received more complaints on a per-capita basis from consumers living in predominantly minority counties than from consumers in predominantly white, non-Hispanic counties.
Initial Claims Down Another 13,000
Initial claims for unemployment insurance continued to drop, the Labor Department reported last week, falling to levels last seen in March 2020.
MBA’s Lisa Haynes, Charmaine Brown Recognized as DEI Leaders by National Diversity Council
The Mortgage Bankers Association’s Lisa J. Haynes and Charmaine Brown were recently recognized as leaders in diversity, equity and inclusion at the National Diversity Council’s four-day, virtual National Diversity & Leadership Conference, held this month.
Bob Mansur, CMB, AMP: Are You Guiding Your LOs to Perform Well?
In the initial article of this series, we addressed the value of setting behavioral requirements for LOs who are not reaching their goals to produce their agreed-upon numbers. The second article offered a process for setting standards so underperforming LOs know what’s expected of them. You’re about to read a presentation of how to respond when they strive to meet those behavioral standards.
(The New Normal) Pooja Bansal: Eagerly Awaiting the End to Remote Work—At Least For Us
A recent McKinsey survey of 800 corporate executives found that after the pandemic, nearly 40% expect their employees in remote services to continue working two or more days a week away from the office. Surely, there are many companies in our industry who are planning to do the same. We’re not one of them and because of that, the pandemic was a big challenge for us.
MBA NewsLink 2021 Tech All-Star Tom Pearce: Challenging the Status Quo
Tom Pearce has extensive experience in the financial services, asset management, mortgage finance, real estate and private equity arenas. He has worked in the center of the secondary market’s buyer-seller dynamic for more than 30 years.