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.
Category: News and Trends
Institutional Investors Expecting Returns to Drop
The Pension Real Estate Association, Chicago, said institutional investors expect the NCREIF Property Index of total returns to decline this year before bouncing back next year.
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.
Dealmaker: Colliers Sells U.S. Fleet Cyber Command Center for $33M
Colliers Government Solutions sold the U.S. Fleet Cyber Command Center of Operations building in Suffolk, Va., for $33.2 million.
In Tighter Market, More Home Sellers Making Concessions
Redfin, Seattle, reported sellers gave concessions to buyers in 45.5% of home sales recorded by Redfin agents during the three months ending February 28, the highest share of any three-month period since June 2020.
March Builder Confidence Up Third Straight Month; NAHB Says Future Outlook ‘Uncertain’
Builder confidence in the market for newly built single-family homes in March rose for the third straight month, but the National Association of Home Builders said economic volatility makes the longer-term outlook uncertain.
MISMO Seeks Second Round of Public Comment for the Version 3.6 Reference Model
MISMO®, the real estate finance industry standards organization, seeks a second round of public comment on Version 3.6 of the MISMO Reference Model. The 30-day public comment period runs through April 13.
Quote: Mar. 16, 2023
“MBA is developing stronger and more effective affordable housing partnerships to close the minority homeownership gap and create meaningful change in underserved communities. CONVERGENCE Philadelphia will bring together a local network of housing leaders, non-profits and other stakeholders to collaborate on sustainable housing opportunities in the city.”
–MBA President and CEO Bob Broeksmit, CMB.
MBA Weekly Survey Mar. 15, 2023: Rates Drop; Applications Up Second Straight Week
Mortgage applications rose for the second consecutive week as a drop in mortgage interest rates spurred an uptick in activity, the Mortgage Bankers Association reported Tuesday in its Weekly Mortgage Applications Survey for the week ending March 10.
JLL Valuation Advisory’s Stuart Miller Discusses the Data Center Sector
At a high level, the fundamentals of the data center sector remain strong, especially relative to other types of real estate, but rising interest rates have put downward pressure on valuations.