The Lede
Top National News
Commercial Property Gets Shakeup From Millennials Who Shun Stuff
Bloomberg, June 9, 2016--Chiglinsky, Katherine
Retail property landlords should counter the threat from e-commerce by turning to dining and entertainment to attract a younger generation of customers, said MetLife Inc.'s asset manager.
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Kessler: Crowdfunding Continuing to Earn Respect From Commercial Real Estate Investors
Real Estate Journals, June 9, 2016--Rafter, Dan
David Kessler, national director for commercial real estate with CohnReznick, points to the old formula of supply and demand as one of the main reasons why crowdfunding has become such a viable option so quickly for commercial real estate investors.
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Mortgage Rates Sink on Lousy Jobs Report
MarketWatch, June 9, 2016--Riquier, Andrea
Rates for home loans plunged as markets reacted to the dismal May jobs report, mortgage provider Freddie Mac said Thursday.
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If We Aren’t Careful with GSE Risk Transfer, Mortgage Rates Could Become Volatile
Urban Institute, June 9, 2016--Kaul, Karan
Today, the guarantee fees borrowers pay on mortgages backed by the GSEs are set by the Federal Housing Finance Agency. The fees do not change with market conditions, largely insulating borrowers from significant mortgage rate volatility. But in a future housing finance system, private capital (rather than the government) will bear most credit risk.
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MBA: Commercial Loans Strong; Few Late-Pays
GlobeSt.com, June 9, 2016--Bubny, Paul
The Mortgage Bankers Association's Jamie Woodwell cites "strong fundamentals and strong property prices, as well as still-low interest rates" underpinning commercial mortgages.
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Independent Mortgage Bank Profits Up from Previous Quarter in U.S.
World Property Journal, June 9, 2016
The Mortgage Bankers Association Quarterly Mortgage Bankers Performance Report said independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $825 on each loan they originated in the first quarter, up from a reported gain of $493 per loan in the fourth quarter.
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Trailblazer: Caliber Home Loans Market First Non-Prime Mortgage Bond
HousingWire, June 9, 2016--Gaffney, Jacob
Irving, Texas-based residential mortgage origination and servicing company, Caliber Home Loans, continues to move into new growth territory. Fitch Ratings announced the first rated non-prime, post crisis private-label securitization is being marketed using Caliber mortgages as collateral.
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Americans’ Total Wealth Hits Record, According to Federal Reserve Report
Wall Street Journal, June 9, 2016--Zumbrun, Josh
The wealth of Americans reached a record of $88.1 trillion in the first quarter, with rising home values offsetting stock-market wobbles at the start of the year.
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Drop in Jobless Claims Suggests Layoffs Remain Low
Wall Street Journal, June 9, 2016--Morath, Eric
The number of Americans filing new applications for jobless benefits declined last week, a sign layoffs remain in check despite a recent slowdown in hiring.
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CFPB Clarity on Investors’ TRID Liability Could Thaw Secondary Market
National Mortgage News, June 9, 2016--Finkelstein, Brad
Secondary market loan purchaser liability is probably the juiciest topic that the Consumer Financial Protection Bureau will address in its expected clarifications of TILA/RESPA integrated disclosure rules in July.
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U.S. Economic Outlook Brightens on Upbeat Job, Inventory Data
Reuters, June 9, 2016--Mutikani, Lucia
Wholesale inventories recording their biggest increase in 10 months in April, prompting economists to raise their second-quarter economic growth estimates. The rise in inventories came even as sales at wholesalers rose for a second straight month.
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Ex-CEO of Monarch Mortgage Ted Yoder Arrested on Bankruptcy Fraud Charge
Virginian-Pilot (Norfolk, Va.), June 9, 2016--Daugherty, Scott; Clayton, Cindy
Edward "Ted" Yoder, who declared bankruptcy in 2011 and 2012, was arrested Thursday and released on a $5,000 bond. He was ordered to return June 22 to U.S. District Court to be arraigned on one count of bankruptcy fraud and two counts each of concealment of assets, false oaths and false declarations.
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Walter Investment Names Interim CEO After Dixon Resigns
National Mortgage News, June 9, 2016--Passy, Jacob
Walter Investment Management Corp. in Tampa, Fla., has named financial services veteran George Awad to the posts of executive chairman and interim chief executive as current CEO Denmar Dixon announced his resignation.
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Loan Officers, Should You Be Making a Six-Figure Salary?
HousingWire, June 9, 2016--Swanson, Brena
The salary of a loan officer is not a clean number. This might sounds daunting at first, but when you think about the six-figure salary potential, it hopefully drums up more excitement and potential than fear.
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Residential Finance News
Commercial/Multifamily News
MBA News
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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MBA Education Construction and Renovation Lending Webinar 101 June 22
MBA Education presents a webinar, Construction and Renovation Lending 101, on Wednesday, June 22 from 2:00-3:30 p.m. ET.
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