Commercial real estate executives’ market sentiment has dropped dramatically, reported RCLCO, Washington, D.C.
Category: News and Trends
FHFA: Fannie, Freddie NPL Sales at 155,000
Fannie Mae and Freddie Mac have sold nearly 155,000 non-performing loans with a total unpaid principal balance of $28.7 billion since 2014, the Federal Housing Finance Agency reported on Tuesday.
Jeff Flory of Baker Tilly: CFPB Increases Scrutiny of Mortgage Servicers as Pandemic Emergency Eases
It is not surprising that the CFPB has increased its scrutiny of mortgage servicers, particularly as the industry moves from a COVID-19 pandemic-induced emergency state to a more normalized servicing environment.
MBA Premier Member Profile: Salesforce
Salesforce is the #1 CRM, bringing companies and customers together in the digital age.
MISMO Launches New Adverse Action Notice Dataset
MISMO®, the real estate finance industry standards organization, launched its new dataset standard that maps to a sample Adverse Action Notice form and accompanying XML file.
MBA, Coalition Raise Concerns over Proposed Small-Business Tax Increase
The Mortgage Bankers Association and a broad coalition of nearly 200 industry, trade and business groups sent a letter to Capitol Hill this week strongly opposing proposals that would increase taxes on small businesses.
Commercial and Multifamily Briefs from TIAA Bank, Brook Farm Group
TIAA Bank’s commercial real estate team unveiled a program to accelerate small-balance loans of $2 to $5 million. The program targets brokers needing help with properties, such as multifamily, retail, self-storage, student housing and small-cap industrial.
Quote
“Purchase applications for both conventional and government loans continue to be weaker due to the combination of much higher mortgage rates and the worsening economic outlook. After reaching a record $460,000 in March 2022, the average purchase loan size was $415,000 last week, pulled lower by the potential moderation of home-price growth and weaker purchase activity at the upper end of the market.”
–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.
June Mortgage Credit Availability Declines
Mortgage credit availability fell for the fourth straight month in June amid rising interest rates, the Mortgage Bankers Association reported Tuesday.
MBA, Trade Groups Joint Letter headline HERE
MBA, trade groups joint letter lede sentence HERE