As congressional leaders and the administration remain deadlocked in negotiations on the next potential COVID-19 relief package, MBA’s advocacy on key federal regulatory and state-based actions has continued.
Category: News and Trends
Keeping Current with TD Bank Commercial’s Gregg Gerken
MBA NewsLink interviewed Gregg Gerken, Head of Commercial Real Estate for TD Bank. He is responsible for a $20 billion investment real estate portfolio and a $2 Billion LIHTC Equity portfolio serving regional institutional real estate clients.
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“The unemployment rate declined in July, but at 10.2 percent, this is still higher than the peak during the Great Recession. The jobs report should continue to support both: the return of jobs will keep housing demand strong and the high level of unemployment ensures that the Federal Reserve will keep rates at zero–meaning mortgage rates will stay low for an extended period.”
–MBA Chief Economist Mike Fratantoni.
One-Quarter of Homebuyers Are Moving–Or Moving Sooner Than Planned–Due to Pandemic
Redfin, Seattle, said three-quarters of homebuyers who plan to buy a home within the next 12 months say the coronavirus pandemic has changed their homebuying plans.
LIBOR: The Floodwaters are Rising
In late 2019, the international financial industry generally considered the United States to be leading the way on LIBOR transition efforts. Then COVID-19 turned the world upside down and many companies had to shift resources to respond.
MBA: Home Equity Lending Growth Hindered by Alternative Products and COVID-19
Home equity loan debt outstanding and borrower utilization rates declined in 2019 and mortgage lenders anticipate originations to fall again this year before increasing modestly in 2021, the Mortgage Bankers Association reported.
Dealmaker: Dwight Capital Closes $25M In HUD Loans
Dwight Capital, New York, closed $25.3 million in HUD 223(f) loans for Golden Gardens Apartments and The Rose Apartments.
Industry Briefs Aug. 7, 2020
News in brief from Black Knight, STRATMOR Group, Arvest Bank, SimpleNexus, Fiserv
FHFA: Multifamily Owners in Forbearance Must Inform Tenants of Eviction Suspension, Tenant Protections
The Federal Housing Finance Agency announced Thursday multifamily property owners with mortgages backed by Fannie Mae or Freddie Mac who enter into a forbearance agreement must inform their tenants about protections during the property owner’s forbearance and repayment periods.
Keeping Current with TD Bank Commercial’s Gregg Gerken
MBA NewsLink interviewed Gregg Gerken, Head of Commercial Real Estate for TD Bank. He is responsible for a $20 billion investment real estate portfolio and a $2 Billion LIHTC Equity portfolio serving regional institutional real estate clients.