NewPoint Real Estate Capital LLC, Plano, Texas, provided a $105 million bridge loan for the acquisition and lease-up of SeventyOne15 McDowell, a new-build mid-rise apartment community in Scottsdale, Ariz.
Category: News and Trends
Austin, D.C., Raleigh Lead STEM Job Growth Index
RCLCO Real Estate Consulting, Bethesda, Md., announced its annual index measuring strongest metro areas for growth in STEM job growth (Science, Technology, Engineering and Math), showing Austin, Texas as the top-ranked market.
Today’s Top National News
Here’s a summary of Top National News Items from major news sites and industry trade publications. To read more, click on the headline:
October Mortgage Application Payments Rise 3.7 Percent to $2,012
Homebuyer affordability continued its downward trajectory in October, as the national median payment applied for by applicants increased 3.7 percent to $2,012 from $1,941 in September, according to the Mortgage Bankers Association’s Purchase Applications Payment Index.
MBA: October Share of Mortgage Loans In Forbearance Up Slightly
The Mortgage Bankers Association’s monthly Loan Monitoring Survey reported loans in forbearance increased by 1 basis point to 0.70% of servicers’ portfolio volume from 0.69% in the prior month as of October 31.
MBA News
MISMO Winter Summit; MBA Education School of Mortgage Banking in Tempe, Ariz.; NMLS License Renewal Period; MBA Education Workshop: Fundamentals of Mortgage Banking for Servicing Professionals. To read more, click on the headline:
Quote
“The decrease in mortgage rates should improve the purchasing power of prospective homebuyers, who have been largely sidelined as mortgage rates have more than doubled in the past year. As a result of the drop in mortgage rates, both purchase and refinance applications picked up slightly last week. However, refinance activity is still more than 80 percent below last year’s pace.”
–Joel Kan, MBA Vice President and Deputy Chief Economist.
HUD Increase Flood Insurance Options for FHA Mortgage Holders in Special Flood Areas
HUD on Monday announced it will allow homeowners with FHA-insured mortgage financing to obtain flood insurance policies that conform to FHA requirements from private insurance providers.
Dave Miller of Cenlar: Industry Outlook for Mortgage Servicing
More originators will look to partner with servicers that have the expertise to manage the regulatory and compliance requirements, which is undeniably the most critical factor to consider when choosing a servicer.
People in the News Nov. 23, 2022: Cenlar Promotes Nayda McKain to Vice President/HR Business Partner
Cenlar FSB, Ewing, N.J., promoted Nayda McKain to Vice President and Human Resources Business Partner.