ATTOM Data Solutions, Irvine, Calif., released its First-Quarter 2020 U.S. Home Sales Report, which showed home sellers nationwide realized a home price gain of $67,100 on the typical sale, up from $66,264 in the fourth quarter and up from $59,000 a year ago.
Category: News and Trends
March Pending Home Sales Tumble by Nearly 21%
As expected, March pending home sales fell as the early effects of the coronavirus pandemic took hold, the National Association of Realtors reported yesterday.
1st Quarter GDP Takes a Hit—And It Will Probably Get Worse
The Bureau of Economic Analysis yesterday reported its first (advance) estimate of first quarter gross domestic product saw the U.S. economy contract by nearly 5 percent as the effects of the coronavirus pandemic kicked in.
First American: House Price Appreciation at ‘Tipping Point?’
First American Financial Corp., Santa Ana, Calif., said its Real House Price Index showed home prices decreased by 1.6 percent from January to February and by 5.8 percent from a year ago.
Tools for a Construction Lender’s Toolbox in the COVID-19 Era
While lenders are rightfully reluctant to take over a distressed project, they would still be wise to remain prepared in the event they are left with no other choice. Lenders should consider the following tips in order to remain ready to take over a failing project.
Britt Faircloth: Fairness in the Face of Crisis–Fair and Responsible Banking in the Midst of Chaos
As a compliance officer, I have always recognized that change is constant, and I accept that fact sometimes grudgingly. While regulatory change generally has ample implementation or lead time, March 2020 has brought a different kind of change; one that is significant, sudden and jarring. These days you can’t just ask who moved your cheese—assuming you could find cheese in the grocery store, that is—you must quickly and effectively adapt to an entirely new normal.
Mark Dangelo: Are Bankers Necessary? Part 3
On April 14, JPMorgan CEO @JamieDimon indicated his operations were preparing for a “severe recession.” To state that the economic conditions we are living in are precarious and uncertain is almost meaningless. For most living today, we are in unchartered territory.
Andrew Foster: Case-By-Case–Commercial Mortgage Forbearance Consideration Begins
As mortgage lenders shift focus from production to portfolio management in response to COVID-19, industry shifts are occurring alongside the inevitable reallocation of lending operation resources.
Purchase Applications Up, Overall Applications Down As Rates Hit Record Low in MBA Weekly Survey
Mortgage applications fell again last week despite an uptick in purchase applications and even as the 30-year fixed mortgage rate dropped to a record low, the Mortgage Bankers Association reported in its Weekly Mortgage Applications Survey for the week ending April 24.
Mortgage Applications Down Again in MBA Weekly Survey
Mortgage applications fell again last week despite an uptick in purchase applications and even as the 30-year fixed mortgage rate dropped to a record low, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending April 24.