(One of a continuing series of profiles of participants in the MBA Education Path to Diversity (P2D) Scholarship Program, which enables employees from diverse backgrounds to advance their professional growth and career development.)
Category: News and Trends
After Several Months of Declines, Insurance Claims Tick Up
Since hitting a record 6.9 million at the end of March, initial claims have fallen, albeit gradually, for the past 15 weeks. That streak ended last week: the Labor Department reported 1.4 million new claims for the week ending July 14, up by 109,000 from the previous week.
LBA Ware: Surge in Q2 Refinance Volume Nets 59% Increase in LO Commissions
LBA Ware, Macon, Ga., said its quarterly summary of mortgage industry compensation found significant refinance volume growth in the second quarter contributed to a 59% year-over-year increase in total loan originator commissions paid over the three-month period.
Dealmaker: CBRE Global Investors Acquires Two San Jose Office Buildings
A fund sponsored by CBRE Global Investors acquired two Class A office buildings in San Jose, Calif. for $95 million. The buildings, collectively known as 237@First, each span six stories and include 368,702 rentable square feet.
S&P: Retail REITs Could Face Distress Until At Least 2021
S&P Global Ratings, New York, said retail real estate investment trusts, already buffeted by the coronavirus pandemic and dwindling brick-and-mortar revenues, could see an increase in downgrades in coming quarters with little chance of recovery before next year.
HUD Terminates Affirmatively Furthering Fair Housing Rule
The Trump Administration yesterday abruptly terminated the Obama-era Affirmatively Furthering Fair Housing rule, replacing it with a new rule that HUD Secretary Ben Carson said would ease burdens for local communities dealing with fair housing.
Kelly Hamill and Andrew Foster: Seniors Housing Spotlight
All property types have felt some effects from COVID-19, but seniors housing is a special case. It has seen a variety of impacts including in occupancy rates and expenses.
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“In this year of bleak economic news, surging refinance volume and steady home purchase business have been bright spots. Low rates have fortified lenders’ pipelines and put more money in originators’ paychecks. LO commissions paid out during the three-month period are up 59% over 2019. I just hope some of that hard-earned money gets set aside for the rainy days that are bound to follow expected increases in unemployment and loan defaults.”
–Lori Brewer, Founder and CEO of LBA Ware, Macon, Ga.
MBA, Affiliate Groups Submit Main Street Lending Program Recommendations
The Mortgage Bankers Association and affiliated groups shared recommendations with the Senate Banking Committee to improve the Main Street Lending Program’s effectiveness for commercial real estate owners and tenants.
MBA Education Path to Diversity Scholar Profile: Gabrielle Beck
(One of a continuing series of profiles of participants in the MBA Education Path to Diversity (P2D) Scholarship Program, which enables employees from diverse backgrounds to advance their professional growth and career development.)