"Today, following years of careful legislating and regulatory rulemaking, section 1031 supports job growth, creates a ladder of economic opportunity for small businesses, cash-poor entrepreneurs, and farm, ranch, and forest owners, and constitutes an important tool for the environmental conservation of land for future generations." --From an MBA/trade group letter to Congress urging lawmakers to preserve current law as it pertains to Section 1031 real estate like-kind exchanges.

Driven by the red-hot housing market, tappable equity – the amount available to homeowners before reaching a maximum 80% combined loan-to-value ratio – surged nearly 40% from last year to a record $9.1 trillion in the second quarter, said Black Knight, Jacksonville, Fla.

Fitch Ratings, New York, said potential stress on U.S. life insurers’ commercial mortgage portfolios will not drive rating downgrades, given the industry’s strong capitalization, current loan quality and historical loss experience.