During the first three months of the COVID-19 pandemic, nearly 11 million households fell behind on their rent or mortgage payments and 30 million individuals missed at least one student loan payment, according to new research released today by the Mortgage Bankers Association’s Research Institute for Housing America.
Category: News and Trends
Scott Roller: MISMO RON Certification: What You Need to Know
Cute and customized face masks are wildly popular these days, launching a whole new industry. Closer to home, in our industry, popularity of vendors providing for Remote Online Notarization is surging. Thanks to the pandemic, RON vendors were rather unmasked, going from gaining marginal traction to epic growth – overnight. MISMO is leading the way, with a sharp machete clearing the path through the state level regulatory and compliance jungle.
Institutional Investors Expect Negative Full-Year Returns
Institutional investors expect negative full-year commercial real estate returns, the Pension Real Estate Association’s Consensus Forecast Survey reported.
Dealmaker: JLL Capital Markets Secures $46M for Houston Office Park
JLL Capital Markets, Chicago, secured a $46 million loan through Morgan Stanley, New York, for a four-building office campus northwest Houston.
MBA Chart of the Week: Retail E-Commerce/Retail Sales
Even before the onset of the pandemic, retail properties were under the microscope. Practitioners spoke about the United States being “over-retailed” compared to other countries, about a shift to experiential retail with a focus on services rather than goods, and about how the rise in e-commerce is a challenge to bricks-and-mortar.
Monday Report: Red-Hot Housing Markets and a Time-Capsule Survey
This morning’s Monday Report features stories that confirm the housing markets remain hot, regardless of location or political preference; what that might mean for down payments; and a housing survey that, thanks to the coronavirus pandemic, was obsolete the moment it was released.
The Week Ahead
Good morning and happy Monday! Welcome to another busy week in the mortgage and political worlds. It’s 46 days until Election Day—more on that below.
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 Partners with NonprofitVote.org for National Voter Registration Day Sept. 22
The Mortgage Bankers Association is a partner with Nonprofit VOTE in support of National Voter Registration Day, which takes place this Tuesday, Sept. 22.
Quote
“American home shoppers faced an historic shortage of listings to choose from this summer, and that scarcity is now reflected in rapidly appreciating home values after a sluggish start to the home shopping season this spring. Builders are racing to catch up with demand, and rising prices should encourage more potential sellers to come off the sidelines and list. Still, the shortage of inventory should keep housing markets unusually tilted in sellers’ favor this autumn.”
–Jeff Tucker, Economist with Zillow, Seattle.