The Consumer Financial Protection Bureau yesterday issued a notice of proposed rulemaking to create a new category of seasoned qualified mortgages, called “Seasoned QMs,” to “encourage innovation and help ensure access to responsible, affordable in the mortgage credit market.”
Category: News and Trends
Personnel News from CBRE, Walker & Dunlop, Marcus & Millichap
CBRE, Los Angeles, announced Bill Grice joined CBRE Hotels as Executive Vice President and Co-Head of Hospitality Capital Markets. Based in the firm’s Atlanta office, he will focus on the origination and placement of debt and equity for hospitality-related transactions.
Dealmaker: Axiom Capital Corp. Arranges $43M for Industrial Assets
Axiom Capital Corp., Montclair, N.J., arranged $43 million to refinance industrial properties in Summerville, S.C. and Saddle Brook, N.J.
Home Buyers Not Rushing Back to Open Houses
The trend toward virtual real estate—a necessity during this coronavirus pandemic—might become permanent, with potential home buyers continuing to show little enthusiasm for open houses, said Redfin, Seattle.
Pandemic Hits Single-Family Rent Prices
CoreLogic, Irvine, Calif., said single-family rent growth reached its slowest rate in a decade during June amid elevated unemployment rates.
Industry Briefs Aug. 19, 2020
Freedom Mortgage Corp., Mount Laurel, N.J., and RoundPoint Mortgage Servicing Corp., Charlotte, N.C. completed their previously announced merger. RoundPoint is now a wholly owned subsidiary of Freedom Mortgage, a full-service mortgage company and provider of VA and government-insured lending.
With Wind at Its Back, Housing Starts Continue Summer Surge
Housing starts posted double-digit increases for the second straight month, HUD and the Census Bureau reported yesterday, to its highest level since February.
Andrew Foster: CMBS Market Musings
Taken together, the analysis from industry thought leaders indicates that CMBS will continue to have challenges with existing loans through 2021 as new issuance remains robust for agency MBS and at a tepid pace for conduit transactions. Challenges with maturing loans are starting as well; however, 2022 will bring a major wave of those loans.
Mortgage Applications Drop in Latest MBA Weekly Survey
Mortgage interest rates jumped back over 3 percent last week, resulting in a decrease in mortgage refinance applications, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending August 14.
Quote
“The housing market remains a bright spot in the current economic recovery and these results, combined with July data on housing starts and homebuilder optimism, suggest that housing supply could be increasing to better meet the strong demand for buying a home.”
–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.