ATTOM Data Solutions, Irvine, Calif., released its third-quarter U.S. Home Affordability Report, showing median home prices of single-family homes and condos in the third quarter are less affordable than historical averages in 63 percent of counties with enough data to analyze, up from 54 percent a year ago.
Category: News and Trends
Initial Claims Persist at Disconcerting Rate
Initial claims for unemployment insurance ticked back up last week, the Labor Department reported yesterday—another indicator of just how persistent economic conditions have been since the coronavirus hit this past winter and spring.
August New Home Sales Continue Summer Surge
New home sales topped the one million mark, seasonally adjusted, in August for the first time since 2006, HUD and the Census Bureau reported yesterday.
Dealmaker: Hunt Real Estate Capital Provides $54M in Fannie Mae Refinance Funds
Hunt Real Estate Capital, New York, provided a $43 million Fannie Mae loan to refinance Ironclad Apartments, a 172-unit mid-rise apartment community that delivered in Minneapolis last year.
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“In today’s housing market, if you build it, they will buy it. The accelerated pace is no surprise, given the growing demand for homes and lack of existing homes for sale.” –Odeta Kushi, Deputy Chief Economist with First American Financial Corp., Santa Ana, Calif.
MBA Awards $135,000 in Path to Diversity Scholarships
The Mortgage Bankers Association awarded more than $135,000 in scholarships to 166 women and minorities under its Path to Diversity (P2D) Scholarship Program during FY2020. Scholarships recognize existing industry professionals from MBA member companies seeking to advance their careers through MBA Education programs and courses.
MBA Advocacy Spurs Crackdown on Deceptive VA Loan Marketing
The settlements signal a remarkable effort by the Consumer Financial Protection Bureau to hold lenders accountable for their dealings with the nation’s veterans—and the culmination of advocacy by the Mortgage Bankers Association to protect earned benefits for servicemembers, veterans and surviving spouses.
Atlanta Fed’s Brian Bailey, CRE, Dishes on Commercial Real Estate Risks
With just under two decades wearing different hats in the commercial real estate industry before joining the bank, Bailey is a CRE subject matter expert in the Atlanta Fed’s Supervision, Regulation and Credit division. In addition to previous roles as an appraiser, consultant and property developer, Bailey holds CCIM and CRE designations. MBS Newslink interviewed Bailey to get his perspective on the current environment.
MBA Education Path to Diversity Scholar Profile: Christa Thomas
(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.)
A Movement, Not a Moment: MBA Kicks Off CREF Diversity, Inclusion and Equity Campaign
The Mortgage Bankers Association is uniquely positioned to help our members and the commercial real estate finance industry address long-standing issues of social justice and inclusion as the premier trade association representing real estate finance.