The Lede
Top National News
U.S. Commercial, Multifamily Mortgage Debt Climbs to $3.39 Trillion in 2018
World Property Journal, Mar. 19, 2019--Michael GerrityAccording to the Mortgage Bankers Association's latest Commercial and Multifamily Mortgage Debt Outstanding quarterly report for 2018, the level of commercial and multifamily mortgage debt outstanding in the U.S. at the end of 2018 was $216 billion (6.8 percent) higher than at the end of 2017.
Full Story
The $1 Million HOA Blowup: It Started With the Misplaced Flower Pots
Wall Street Journal, Mar. 19, 2019--Jim Carlton (free article)Seven years after he moved in, the HOA and Jim Hildenbrand are still fighting over the decorative wall in court, with no end in sight. The dispute has consumed nearly $1 million in legal fees-the most expensive active HOA case of this type in the country, according to experts keeping track of such things.
Full Story
Citibank to Pay $25 Million for Violating the Fair Housing Act
HousingWire, Mar. 19, 2019--Ben LaneAccording to the OCC, an investigation showed that Citibank did not equally offer certain mortgage discounts to all Citi customers, thereby "adversely" affecting some customers based on their "race, color, national origin, or sex."
Full Story
Challenging Days for Lenders
Mortgage Media, Mar. 19, 2019MBA chief economist Mike Fratantoni looks at some of the challenges facing the industry as the downturn continues, as well as some encouraging news.
Full Story
California Has the Jobs but Not Enough Homes
Wall Street Journal, Mar. 19, 2019--Nour Malas (subscription)Companies are expanding outside California or moving outright as an affordable-housing crisis casts a shadow on the state's booming economy.
Full Story
Facebook Ends Targeted Ad Program for Housing
National Mortgage Professional, Mar. 19, 2019--Phil HallFacebook announced it is dismantling its targeted advertising program for housing following complaints that the social media giant was encouraging housing discrimination.
Full Story
JLL’s HFF Acquisition Will Create US’ Largest CRE Brokerage
Commercial Observer, Mar. 19, 2019--Matt GrossmanJLL announced it will buy HFF for $2 billion in a deal it predicts will close in the third quarter. The marriage will create the biggest mortgage brokerage in America, according to data from the Mortgage Bankers' Association.
Full Story
Home Equity Expands, Home Equity Credit Not So Much
National Mortgage News, Mar. 19, 2019--Elina Tarkazikis (subscription)Home equity is sitting above the $15 trillion mark nationwide, according to the Federal Reserve, but interest in more costly forms of debt, such as credit cards or personal loans, has been outpacing that of home equity loans and lines of credit since the financial crisis.
Full Story