“As market conditions evolve and affordability challenges persist, non-QM lending offers a path for qualifying creditworthy borrowers who may not meet qualified mortgage guidelines.”
–Optimal Blue’s Mike Vough
Category: News and Trends
Redfin: Asking Rents Fell 0.5% Year-Over-Year in June
Redfin, Seattle, reported the median U.S. asking rent fell 0.5% year-over-year to $1,642 in June. That marks the fourth straight month of annual declines.
Dealmaker: KeyBank Provides $47M for California Affordable Housing
KeyBank Community Development Lending and Investment, Cleveland, provided a $32 million tax-exempt construction loan and a $15 million taxable construction loan to finance El Camino Commons, an affordable multifamily property in Oceanside, Calif.
Senior Renters Increase, Point2Homes Finds
Point2Homes, Santa Barbara, Calif., found that more seniors are renting now than 10 years ago.
MBA NewsLink Q&A: Ben Fertig on Pivoting to Profitability
MBA NewsLink recently spoke to Ben Fertig, president of Fay Servicing LLC subsidiary Constructive Capital, about business purpose lending.
MISMO Updates Fee Naming Guide
MISMO, the real estate finance industry’s standards organization, announced that it has added more than 40 new standardized fee names and definitions to its Fee Naming Guide.
Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage applications increased 9.4% from one week earlier, according to MBA’s Weekly Mortgage Applications Survey for the week ending July 4, 2025.
Quote of the Day
“After adjusting for the July 4th holiday, purchase applications increased to the highest level of activity since February 2023 and remained above year-ago levels.”
–Joel Kan, MBA Vice President and Deputy Chief Economist
Dealmaker: Eastern Union Arranges $38.5M to Refinance Michigan Multifamily
Eastern Union, New York, arranged a $38.5 million loan to refinance a multifamily property in Warren, Mich., near Detroit.
What’s Holding First-Time Homebuyers Back?
Mary Kay Scully, Director of Customer Education at Enact, looks at why first-time homebuyers have been opting to wait.