Bellwether Enterprise Real Estate Capital LLC, Cleveland, closed $391.9 million in financing for industrial and manufactured housing assets across the country.
Category: News and Trends
June Jobs Up Nearly 5 Million; Unemployment Rate Drops; New Claims at 1.4 Million
The Bureau of Labor Statistics reported total nonfarm payroll employment jumped by 4.8 million in June, as easing of coronavirus restrictions brought back more workers who had been laid off earlier this spring.
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“This report is nothing but positive for the housing and mortgage markets. The stronger job market will support new home purchases, as well as helping homeowners make their mortgage payments. MBA continues to believe that Congress needs to extend enhanced unemployment insurance benefits to support those households that remain unemployed.”
–MBA Chief Economist Mike Fratantoni, on Thursday’s government employment report.
MBA Advocacy Update
On Monday, the U.S. Supreme Court issued its decision in Seila Law LLC v. Consumer Financial Protection Bureau, holding that the Consumer Financial Protection Bureau’s single-director structure violates the Constitution’s separation of powers scheme while also ruling that the CFPB can continue to operate.
Distressed Debt Monitor: Special Situations in Commercial Real Estate
As economies reopen against a backdrop of decreased consumer demand and continued government relief, commercial real estate investors are grappling with a double-edged sword: defending certain existing challenged debt and equity positions on one hand and seeking new opportunities given shifted market dynamics.
MBA, Trade Groups Draft Model Remote Notarization Executive Order
The Mortgage Bankers Association, the American Land Title Association and the National Association of Realtors have developed a model executive order for states to enable remote notarizations during coronavirus pandemic.
People in the News July 3, 2020
LenderClose, Des Moines, Iowa, appointed Martina Schubert as chief technology officer, responsible for aligning technological vision with the company’s needs to positively impact current and future operations.
Anita Bush: Offering Forbearance Under the CARES Act – A New Reality for Mortgage Servicers
According to the latest Mortgage Banker Association Forbearance and Call Volume Survey, the total loans in forbearance stands at 8.47%. While the number of new forbearance requests is declining, many servicers may still be working with forbearance borrowers for the rest of this year and into 2021. Here’s what servicers can do to handle this new reality.
Technology Talk: Q&A with SS&C’s Bob Wright, CMB, CCMS
MBA NewsLink interviewed Bob Wright, CMB, CCMS,about SS&C Technologies’ work-from-home experience and his experience with Coronavirus.
ADP Reports 2.37 Million Increase in June Employment
Ahead of today’s employment report from the Labor Department, ADP, Roseland, N.J., said private sector employment increased by 2.37 million jobs from May to June.