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.
Category: News and Trends
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.)
Steven Octaviano: Today’s Innovation Opportunity–And Why Lenders Must Embrace It
The technologies behind these changes have been with us for some time, but it took a crisis of mammoth proportions to accelerate adoption. Yet there are other areas of the mortgage business still sorely in need of innovation. And if lenders hope to remain competitive and thrive when the smoke from the pandemic clears, they need to be embracing these innovations today.
Fannie Mae: Explore How the Industry is Going Digital with eMortgages (July 24, 2020)
eMortgages have grown significantly – and in light of recent events, demand is higher than ever. Henry Cason, SVP and Head of Digital Products at Fannie Mae, shares how the industry is embracing digital mortgage solutions. Read our attached blog post for more information.
People in the News July 24, 2020
LRES Corp., Orange, Calif., named Tina Suihkonen as Senior Director of Commercial Services. She will lead LRES’ commercial default services division and provide nationwide commercial trustee and foreclosure services.
Keeping Current With Midland Loan Services’ Tim Steward
MBA NewsLink interviewed Timothy E. Steward, Senior Vice President and co-head of Midland Loan Services, a PNC Real Estate business. Steward leads a team of more than 500 professionals responsible for delivering loan servicing, asset management and technology services to the commercial real estate finance industry.