The MBA Opens Doors Foundation announced that Eddy Perez, Founder and CEO of Equity Prime Mortgage, has pledged $1,000,000 over 10 years in honor of the late former MBA President and CEO David H. Stevens, CMB.
Category: News and Trends
ATTOM: California, New Jersey, Illinois Face Higher Risk of Housing Market Decline
California, New Jersey and Illinois have the highest concentrations of “at-risk” markets in the country, reported ATTOM, Irvine, Calif.
Quote: March 12, 2024
“We commend Secretary Fudge and her staff for their contributions on numerous issues, including working with the industry to ensure struggling borrowers could remain in their homes through COVID-19 forbearance relief and other loss mitigation reforms, making homeownership more affordable by lowering mortgage insurance premiums, increasing multifamily large loan limits for the first time in nearly a decade, and implementing improvements to existing HUD programs to boost single-family and multifamily housing supply.”
–MBA President and CEO Bob Broeksmit, CMB, discussing HUD Secretary Marcia Fudge
HUD Secretary Marcia L. Fudge to Resign March 22
Marcia L. Fudge, the 18th Secretary of the U.S. Department of Housing and Urban Development, announced she will resign effective March 22, 2024.
CRED iQ: Multifamily Distress Rate Up 80 Basis Points in February
CRED iQ, Wayne, Pa., reported the Distress Rate for all property types trimmed 4 basis points in February to 7.35%. However, the multifamily distress rate was up 80 basis points–the largest monthly increase in that sector in more than a year and a half.
Tavant’s Debarchana Roy: Sustainable Housing, Inclusive Lending–Toward a Unified Vision for Mortgage Industry Transformation
In today’s rapidly evolving mortgage industry, two key pillars stand tall: sustainability and diversity, equity and inclusion.
Down Payment Resource’s Rob Chrane–Lenders are Letting Too Many FHA Borrowers Leave DPA on the Table
Here’s the kicker: a lot of DPA goes untapped simply because buyers, lenders and agents are unaware it exists or have misconceptions about how it works and who can qualify. And that’s a shame for every participant in the housing finance and real estate market.
Dealmaker: Gantry Secures $28 Million to Refinance Medical Office Building in the Los Angeles Area
Gantry, San Francisco, secured a $28 million permanent loan to refinance the Torrance Memorial Lundquist-Lurie Cardiovascular Center in Torrance, Calif.
People in the News, March 12, 2024
Industry personnel news from LoanPASS, Richey May and Quantalytix.
March 19-20, 2024: MBA National Advocacy Conference
MBA’s National Advocacy Conference is the only advocacy event focused solely on real estate finance issues.