Catching you up on housing and economic reports that came across the MBA NewsLink desk this week during and after the MBA National Secondary and Capital Markets Conference & Expo in New York:
Category: News and Trends
Initial Claims Rise for 2nd Straight Week
Initial claims for unemployment insurance rose for the second straight week, the Labor Department reported Thursday.
Existing Home Sales Fall to Near 2-Year Low
Existing home sales fell for the third straight month, the National Association of Realtors reported Thursday, to their lowest level since June 2020.
Record-Breaking Start for U.S. Multifamily Market
CBRE, Dallas, reported the multifamily sector saw strong momentum in early 2022, with robust demographic trends underpinning record leasing activity, rent growth and investment.
Dealmaker: Lument Closes $23M Bridge Loan for Texas Multifamily
Lument, New York, closed a $22.6 million proprietary bridge loan for acquisition and renovation of The Junction, a 205-unit multifamily community in Arlington, Texas.
MBA, Winnow Solutions LLC Partner to Help Members with Compliance Research, Costs
The Mortgage Bankers Association and Winnow Solutions LLC, Anaheim, Calif., announced a partnership that will provide MBA member subscribers – at a 10% discount rate – a comprehensive database of state and federal regulations to help control costs and better manage the growing complexity of mortgage regulations.
People in the News May 20, 2022: Appraisal Logistics Taps Elizabeth Green as Chief Strategy Officer
Appraisal Logistics, Annapolis, Md., named Elizabeth Green as Chief Strategy Officer.
MISMO Issues MI Version 3.4 Implementation Guide for Electronic Ordering of MI Requests, Commitments
MISMO®, the real estate finance industry standards organization, launched an updated Mortgage Insurance Version 3.4 Implementation Guide
MBA Legal Issues & Regulatory Compliance Conference in Miami May 22-25
The Mortgage Bankers Association’s annual Legal Issues and Regulatory Compliance Conference takes place May 22-25 at the Intercontinental Miami.
Quote
“The combination of higher prices and higher mortgage rates continue to negatively impact home sales. Although the job market is still extremely strong, emerging signs of economic weakness have also added to the overall uncertainty for potential homebuyers.”
–Joel Kan, Associate Vice President of Economic and Industry Forecasting with the Mortgage Bankers Association.