MPA, May 24, 2024-Candyd MendozaMBA Education has recognized 23 professionals who earned the Commercial Certified Mortgage Servicer (CCMS) designation, the largest graduating class in the program’s history, according to the …
Category: News and Trends
Quote: May 28, 2024
“Given the highly competitive homebuying market, renters are unsure whether now is the right time to buy.”
–Matt Vernon, Head of Consumer Lending at Bank of America
Dealmaker: Walker & Dunlop Closes $155M Refinancing for Manhattan’s Lexington Hotel
Walker & Dunlop, Bethesda, Md., completed a $155 million refinancing deal for the Lexington Hotel, a historic landmark in Midtown Manhattan.
BofA: 70% of Prospective Homebuyers Feel Renting Could Harm Their Financial Future
Many prospective homebuyers fear the long-term consequences of renting, including 70% who feel they’re not making a long-term investment in their future, and 72% who worry that rent increases could affect their finances, according to a new Bank of America report.
Pending Home Sales Dip, Redfin Reports
Pending home sales fell 4.3% from a year earlier during the four weeks ending May 12, the biggest decline in roughly three months, according to a new report from Redfin.
Quote: May 24, 2024
“While the first quarter of 2024 marks the eighth consecutive quarter of net production losses, these losses were less severe than the previous two quarters.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis
New Home Sales Slip in April
Sales of new single-family homes in April were at a seasonally adjusted annual rate of 634,000, according to estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development.
MBA: IMBs Report Net Production Losses in the First Quarter of 2024
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $645 on each loan they originated in the first quarter of 2024, a decrease from the reported loss of $2,109 per loan in the fourth quarter of 2023, according to the Mortgage Bankers Association’s (MBA) newly released Quarterly Mortgage Bankers Performance Report.
Opportunity Zone Home Prices Mixed: ATTOM
Median single-family home and condo prices increased in the first quarter in just 49 percent of Opportunity Zones around the country, according to ATTOM, Irvine, Calif.
Experts Revisit GSE Reform #MBASecondary
NEW YORK–With election season well underway, some are speculating about a renewed effort to release the GSEs from conservatorship. Two policy analysts discussed the possibility here at MBA’s Secondary and Capital Markets Conference and Expo.