Eastern Union, New York, arranged $28 million in financing for a 13-property, 437-unit multifamily portfolio in Bridgeport, Conn.
Category: News and Trends
Initial Claims Fall to 8-Month Low
Initial claims for unemployment insurance fell to their lowest level since July last week, giving the Federal Open Market Committee more food for thought as it prepares to meet next week.
February Housing Starts Up Nearly 10%
February housing starts, permits and completions posted near double-digit percentage increases, ending five months of declines, HUD and the Census Bureau reported Thursday.
February New Home Purchase Mortgage Applications Up 4%
The Mortgage Bankers Association on Thursday reported mortgage applications for new home purchases increased by 4 percent in February from January and by 1.2 percent from a year ago.
FHFA Delays Effective Date of GSE DTI Ratio-Based Fee to Aug. 1
The Federal Housing Finance Agency on Wednesday announced a 90-day delay in the effective date of the new Loan Level Price Adjustments for certain borrowers with debt-to-income ratios above 40 percent. The new effective date will be for deliveries on or after August 1.
Quote: Mar. 17, 2023
“Lower mortgage rates led to an uptick in homebuyer traffic and sales in January and the early part of February However, the subsequent increase in mortgage rate levels and volatility will likely weaken homebuyer demand and builder sentiment, pressuring starts during the balance of the year. Homebuilders remain cautiously optimistic.”
–Robert Rulla, Senior Director with Fitch Ratings, New York.
MBA Launches CONVERGENCE Philadelphia
The Mortgage Bankers Association on Wednesday launched CONVERGENCE Philadelphia, its third city-based pilot program to promote and increase minority homeownership. CONVERGENCE Philadelphia joins initiatives underway in Memphis, Tenn., and Columbus, Ohio.
MBA Education Path to Diversity Scholar Profile: Dawn Hooper
Dawn Hooper has been in the mortgage industry since 1998. She has held various positions in all channels of the mortgage process. She was instrumental in the induction of licensing in her home state of North Carolina and at a national level, working closely with lawmakers and the Nationwide Mortgage Licensing System. Dawn was previously honored as the Virginia Mortgage Lenders Association Associate of the Year.
Alesha Briley, CMCP, and Leanne Minghini of Ncontracts: What Story is Your HMDA Data Telling?
Telling your mortgage company’s Home Mortgage Disclosure Act story is essential for fair lending compliance. It begins with data collection and ends with data analysis. An effective HMDA data process involves eight steps.
February New Home Purchase Mortgage Applications Up 4%
The Mortgage Bankers Association on Thursday reported mortgage applications for new home purchases increased by 4 percent in February from January and by 1.2 percent from a year ago.