On September 17, the Research Institute for Housing America, MBA’s think tank, released a special report on housing-related financial distress during the second quarter – the first three months of the pandemic in the U.S.
Category: News and Trends
FHA: GSEs Complete 252,000 2Q Foreclosure Preventions
The Federal Housing Finance Agency said Fannie Mae and Freddi Mac completed 252,014 foreclosure prevention actions in the second quarter, bringing to 4.68 million the number of troubled homeowners who have been helped during conservatorships.
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Fitch: Secular Shifts Force U.S. Commercial Real Estate to Adapt
Fitch Ratings, New York/London, said post-pandemic, many U.S. commercial real estate segments will be transformed by the way space is used, which will have long-term consequences for property performance and financeability.
Dealmaker: NorthMarq Completes $240M Refinancing for California Multifamily Portfolio
NorthMarq’s Newport Beach, Calif., office arranged $240.4 million to refinance a six-property multifamily portfolio in southern California.
The Week Ahead
Good morning and happy Monday! Welcome to another breathtaking week in the mortgage and political worlds. It’s 39 days until Election Day.
MBA LIVE: Virtual Annual Convention & Expo Oct. 19-21; Early Registration Deadline Sept. 30
MBA is gearing up for its first-ever virtual Annual Convention & Expo. Taking place October 19-21 via MBA LIVE, attendees can connect whenever they want, from wherever they want.
MBA Advocacy Update
Federal Reserve Chairman Jay Powell and Treasury Secretary Steven Mnuchin testified before House and Senate committees regarding the government’s response to the COVID-19 pandemic. On Tuesday, the Federal Housing Finance Agency published its strategic plan for the years 2021 through 2024, highlighting the agency’s ongoing efforts to reform the GSEs and improve its own internal operations.
Quote
“Working from home reduced the importance of home and office proximity, and people are increasingly leaving urban centers for more affordable and spacious locations for families and home offices.”
–From a Fitch Ratings report on long-term consequences of the coronavirus pandemic on U.S. commercial real estate.