Real gross domestic product decreased at an annual rate of 5 percent in the first quarter, according to the second (revised) estimate by the Bureau of Economic Analysis, down from 4.8 percent in last month’s advance (first) estimate. It also reported corporate profits fell sharply in the first quarter as the impact of the coronavirus pandemic took hold.
Category: News and Trends
New Initial Claims at 2.1 Million; Total Claims Top 40 Million
American workers filed an additional 2.1 million initial claims last week, bringing the 10-week total for claims to nearly 41 million, the Labor Department reported yesterday.
Dealmaker: Canyon Partners, American Capital Group to Build Seattle-Area Multifamily
Canyon Partners Real Estate LLC and American Capital Group announced a joint venture to develop Kinect @ Lynnwood, a 239-unit apartment community in suburban Seattle.
To the Point with Bob: FHFA’s Capital Rule and How it Fits into Housing Finance Reform
Mortgage Bankers Association President and CEO Robert Broeksmit, CMB, in his newest blog, discusses latest developments involving the Federal Housing Finance Agency and its re-proposed capital framework for Fannie Mae and Freddie Mac.
Robert Tyler-Cook: Five Questions Help You Assess ‘Fit’ Issues that Influence Growth
The most successful partnerships in mortgage banking come about because there’s a solid match between what the originator on the street needs and what the corporate parent (or its branch) has to offer.
Michael Farris of Origence on Adapting to Disruption
Michael Farris is Vice President of Strategic Solutions with Origence, Irvine, Calif., developer of the Origence origination platform, an end-to-end platform that powers mortgage, consumer and home equity lending for financial institutions.
MBA Education Path to Diversity Scholar Profile: Nicole Upshur
(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.)
People in the News
ClearBlu Capital Group, Bellevue, Wash., appointed Vionna Adams as an advisor. She will play a critical role assisting in real estate planning, project management, civil engineering and other advisory services.
John Walsh: Tax Service – A New Era
For decades, tax service has gone unchanged. There are many efforts to change this dynamic; layering in new technology for servicers to engage with their tax vendor and improving transparency in a historically monochromatic space.
Andrew Foster: Mezzanine Market Musings
The commercial real estate mezzanine loan market is ripe with interesting market developments this year.