The Lede
Top National News
Anbang, Know Your Customer
Bloomberg, Apr. 1, 2016--Fickling, David; Gopalon, Nisha
Get over your shock that Anbang Insurance dropped its $14 billion takeover offer for Starwood Hotels. It's more surprising that the proposal got so far in the first place.
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Total U.S. Commercial, Multifamily Mortgage Debt Outstanding at $2.83 Trillion
World Property Journal, Apr. 1, 2016--Rachid, Monsef
According to the Mortgage Bankers Association's latest Commercial/Multifamily DataBook, the fourth quarter was the fourth highest quarter for borrowing and lending on record.
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Deutsche, JPM Find a Way Forward With Reworked, Bank-Only CMBS
Reuters, Apr. 1, 2016--Wiltermuth, Joy
Deutsche Bank and JPMorgan stripped out non-bank collateral on their latest commercial mortgage bond before it was sold to investors, winning favor with the simpler structure in a market scarred by volatility and regulatory pressures.
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U.S. Consumer Sentiment Fell Slightly in March
Wall Street Journal, Apr. 1, 2016--Morath, Eric
Consumer sentiment fell slightly in March suggesting some caution on the part of Americans facing better job prospects but a still uncertain global economy.
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Nonbank Mortgage Lenders Trim Payrolls Again
National Mortgage News, Apr. 1, 2016--Collins, Brian
Nonbank mortgage lenders and brokers cut 2,200 full-time employees from their payrolls in February, following a layoff of 2,000 workers in the prior month.
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First American Mortgage Snaps Up Valuation Veteran Forsythe Appraisals
HousingWire, Apr. 1, 2016--Swanson, Brena
First American Mortgage Solutions, a subsidiary of First American Financial Corp., acquired Forsythe Appraisals, supplementing its existing valuation capabilities.
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Too Big to Fail and Too Weird to Finance
Bloomberg, Apr. 1, 2016--Levine, Matt
The MetLife decision counts as a loss for the post-crisis system of trying to create systemic stability by prudentially regulating (and/or shrinking) too-big-to-fail firms. The GE application surely counts as a victory.
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Manhattan Real Estate Breaks New Price Records
CNBC, Apr. 1, 2016--Frank, Robert
Reports of the demise of luxury real estate in Manhattan may have been greatly exaggerated--or perhaps just early.
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Manufacturing Sector Grows for First Time in Six Months
Associated Press, Apr. 1, 2016--Boak, Josh
The Institute for Supply Management said Friday that its manufacturing index rose to 51.8 last month from 49.5 in February.
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U.S. Construction Spending Retreats in February
Associated Press, Apr. 1, 2016--Crutsinger, Martin
U.S. construction spending fell in February by the largest amount in three months. Weakness in nonresidential construction and government offset the strongest month for home construction in more than eight years.
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Amid Finger Pointing, Problem of ‘Zombie Homes’ Worsens
Buffalo News (N.Y.), Apr. 2, 2016--Glynn, Matt
The state Department of Financial Services found delays at different steps of the legal process, with each side blaming the other for repeated postponements. New York, like about half of all states, has a judicial process for foreclosures, meaning the cases wind through court, with a judge overseeing the proceedings.
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Move Wants $2 Billion in Damages from Zillow for Alleged Trade Secret Theft
HousingWire, Apr. 1, 2016--Lane, Ben
One of the most contentious fights in the history of real estate listings is going nuclear, thanks to a "staggering" claim of damages from Move in its trade secret theft lawsuit against Zillow.
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA National Advocacy Conference Apr. 12-13
The Mortgage Bankers Association's annual National Advocacy Conference takes place Apr. 12-13 at the Capital Hilton in Washington, D.C.
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Upcoming MBA Education Introduction to Mortgage Banking Courses
MBA Education, the education arm of the Mortgage Bankers Association, presents Introduction to Mortgage Banking, an overview of the residential real estate finance industry as a career development tool for college students and those interested in changing careers, and as a training tool for interns and new hires.
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Don’t Miss Out: Participate in MBA 2016 Residential Compensation Survey Program
For more than a decade, the Mortgage Bankers Association has recommended participating in its annual Residential Mortgage Banking Compensation Survey Program.
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