At the recent Mortgage Bankers Risk Management, Quality Assurance and Fraud Prevention conference, Fannie Mae hinted at forthcoming changes to its pre-funding quality control requirements. While specifics regarding the changes remain to be seen, the teaser serves as a warning for lenders to shore up their current pre-funding QC program to ensure they are ready to meet the new standards.
Category: News and Trends
MBA Commercial/Multifamily DEI Leadership Awards Deadline Nov. 4
MBA recognizes commercial/multifamily members that show leadership in the areas of Diversity, Equity and Inclusion internally through market outreach efforts. As the world continues to evolve, DEI programs are more important than ever before. The Commercial/Multifamily entry period is now open, and will close on November 4.
Cooling Buyer Demand Pushes September Home Prices Down
CoreLogic, Irvine, Calif., said September home prices fell by 0.5 percent from August, while annual growth slowed for the fifth consecutive month.
RealPage: Gateway Markets See More Volatile Apartment Rents
The COVID pandemic hit apartment markets nationwide, but different markets saw very different effects, reported RealPage, Richardson, Texas.
Record-High Number of Homebuyers Ready to Move Elsewhere
Redfin, Seattle, said rising mortgage rates and persistently high home prices are motivating many buyers who remain in the market to relocate to more affordable areas.
Sharp Slowdown Expected in Home Remodeling
The Leading Indicator of Remodeling Activity, a quarterly forecast from the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University, Cambridge, Mass., projects year-over-year growth in homeowner remodeling and repair spending to shrink from 16.1 percent in 2022 to 6.5 percent by the third quarter 2023. And The National Association of Home Builders Remodeling Market Index for the third quarter posted a 10-point year over year decline in the third quarter, falling to 77.
Dealmaker: Security Properties Acquires Seattle Multifamily for $104M
A joint venture between Security Properties, Seattle, and STARS REI, Santiago, Chile, purchased 624 Yale, a midrise multifamily property in Seattle’s South Lake Union neighborhood, for $104 million.
MBA Accounting & Financial Management Conference in Phoenix Nov. 8-10
The Mortgage Bankers Association’s annual Accounting and Financial Management Conference takes place Nov. 8-10 at the JW Marriott Phoenix Desert Ridge.
Katie Parsons of JLL on Today’s Industrial Sector
Katie Parsons is Managing Director and Head of the Industrial Sector for JLL Valuation Advisory, which conducts assignments throughout the United States across property types including warehouse/distribution centers, manufacturing, cold storage, food/beverage processing facilities, truck terminals, R&D facilities, industrial yards, business parks and airport-related facilities.
MBA Advocacy Update Oct. 31 2022
Congratulations to Matt Rocco, Chairman of the Board and Chief Executive Officer of Grandbridge Real Estate Capital, for being sworn in as 2023 Chairman at MBA’s Annual Convention.