Industry personnel news from MBA, Dovenmuehle, Optimal Blue and Nationwide Property & Appraisal Services.
Category: News and Trends
Fannie Mae: Home Prices Up 7.4% in First Quarter
Fannie Mae reported that single-family home prices increased 7.4% from the first quarter of 2023 to the first quarter of this year.
Dealmaker: iBorrow Provides $6M Bridge Loan in Tampa, Fla.
iBorrow, Los Angeles, closed a $5.55 million bridge loan on a 59,250-square-foot, fully leased industrial building in Tampa, Fla.
Hotel Construction Rises for First Time in Nine Months, CoStar Finds
The volume of U.S. hotel rooms under construction grew year-over-year for the first time since last June, according to CoStar Group, Washington, D.C.
Quote: April 19, 2024
“Though rebounding from cyclical lows, home sales are stuck because interest rates have not made any major moves.”
–NAR Chief Economist Lawrence Yun
Advantage Systems’ Joe Ludlow: Breaking Down the Complexity of Vendor Management Across the Branch Network
In this time of low volumes and tight margins, many lenders are scrutinizing expenses more closely and seeking innovative ways to enhance efficiencies and gain greater control over their operations. One area that is ripe for improvement is vendor management – particularly within a mortgage lender’s branch network.
Industry Briefs, April 19, 2024
Industry news from Heartland Multiple Listing Service, Down Payment Resource, Total Expert, Floify, A&D Mortgage and FICO.
Dealmaker: Berkadia Secures $12M in JV Equity in Nevada
Berkadia, Ambler, Pa., arranged $11.5 million in joint venture equity for Five Ridges, a to-be-built 83-unit townhome-style development in Reno, Nev.
FHFA Requests Public Input on Freddie Mac Second Mortgage Proposal
The Federal Housing Finance Agency on Tuesday proposed a new product from Freddie Mac to begin purchasing certain single-family closed-end second mortgages.
S&P Global Ratings: U.S. Home Price Overvaluation Softens
S&P Global Ratings, New York, said U.S. home price overvaluation fell roughly one percentage point to 14.3% as of the fourth quarter.