Newmark, New York, sold Moffett Green, a recently renovated office campus in Sunnyvale, Calif., for $365 million.
Category: News and Trends
Faith Schwartz of Housing Finance Strategies: Homeownership Month Focus on Policy Innovation to Up-Level the FTHB
The trend we address in this short narrative is the shrinking playing field for first-time homebuyers who are more and more being shut out of buying opportunities by institutional cash buyers and losing the attendant opportunity for the creation of generational wealth.
MBA Offices Closed Monday; NewsLink Will Not Publish
Offices of the Mortgage Bankers Association will be closed this Monday, June 20, in public observance of the federal Juneteenth holiday.
MBA Nominates Laura Escobar of Lennar Mortgage as 2023 Vice Chair
The Mortgage Bankers Association nominated Laura Escobar, President of Lennar Mortgage, Miami, to serve as its Vice Chair for the 2023 membership year. She is expected to be installed at the association’s 109th Annual Convention in Nashville, Tenn., this October.
Call for Entries: MBA DEI Leadership Awards; Deadline Aug. 5
The Mortgage Bankers Association is now accepting entries for its annual Diversity, Equity and Inclusion Residential Leadership Awards; entry deadline is Friday, Aug. 5.
Rising Rates, Tight Inventories Dampen MBA Builder Apps Survey
May mortgage applications for new home purchases fell by 4 percent from April and by 5 percent from a year ago, the Mortgage Bankers Association reported Thursday.
Quote
“The residential sector has been hit hard by a sharp increase in mortgage rates over the past few months. Higher borrowing costs as home prices continue to rise a fast pace have put a major dent in new home sales, which appear to be causing home builders to scale back production.”
–Mark Vitner, Senior Economist with Wells Fargo Economics, Charlotte, N.C.
MBA Human Resources Symposium Sept. 8-9
The Mortgage Bankers Association’s annual Human Resources Symposium takes place Sept. 8-9 in Arlington, Va.
MBA: Record-High 1Q Commercial/Multifamily Mortgage Debt Outstanding
Commercial/multifamily mortgage debt outstanding increased by $74.2 billion (1.8 percent) to record levels in the first quarter, the Mortgage Bankers Association reported Thursday in its quarterly Commercial/Multifamily Mortgage Debt Outstanding Report.
Bruno Pasceri of Incenter LLC on Changing Mortgage Market Conditions
Bruno Pasceri is President of Incenter LLC, Fort Washington, Pa., which helps mortgage bankers optimize processes and improve performance.