The Hill, Apr. 13, 2023–Adam Barnes“There was a long-standing belief that millennials never wanted to own and were perfectly content renting. That belief has proven to be false. The reality …
Category: Top National News
Shadow Lenders to Bridge Real Estate Void Left by Banks, Bonds
Bloomberg, Apr. 13, 2023–Carmen Arroyo, John SageCarlyle, Castlelake, King Street, HighVista, Palladius eye CRE; CMBS is down 82% as regional banks pull back from lending; Traditional banks and the bond …
Fannie Mae Servicing Shrinks in 1Q
Inside Mortgage Finance, Apr. 13, 2023–John BancroftThe supply of single-family agency servicing grew again in the first quarter of 2023 — but at its slowest pace in several years.https://www.insidemortgagefinance.com/articles/227525-fannie-mae-servicing-shrinks-in-1q?v=preview
1 Big Thing: Unpacking the Commercial Real Estate Problem
Axios, Apr. 12, 2023–Emily Peck, Matt PhillipsUnder the hood, the situation is more nuanced, as detailed in two reports from the Mortgage Bankers Association and Moody’s Analytics.https://www.axios.com/newsletters/axios-markets-9b83697b-1f47-4ada-87a6-3561a2519a13.html?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter_axiosmarkets&stream=business
FDIC Official Says Agency Was Slow to Sell Failed SVB
Wall Street Journal, Apr. 12, 2023–Andrew Ackerman (subscription)A top Federal Deposit Insurance Corp. official said the agency could have moved more quickly to find a buyer for Silicon Valley Bank …
Further Declines in Securitization Issuance
Inside Mortgage Finance, Apr. 12, 2023–John BancroftCombined MBS issuance at Fannie Mae, Freddie Mac and Ginnie Mae was down 21.2% from the fourth quarter and off 66.9% from the first …
Houston Apartment Owner Loses 3,200 Units to Foreclosure as Multifamily Feels the Heat
Wall Street Journal, Apr. 11, 2023–Will Parker, Konrad Putzier (subscription)An apartment building investor lost four Houston complexes to foreclosure last week, the latest sign that surging interest rates are beginning …
Office Owners Face Financing Dilemma
Commercial Property Executive, Apr. 11, 2023–Gail KalinoskiThe pressures of rising interest rates and declining property values are making it a tall order for owners to get loans. What are the …
Publicly Traded REITs Tread Water in March; Remain Up for the Year
Wealth Management Real Estate, Apr. 10, 2023–David BodamerDespite some clamor about the state of real estate financing, mortgage REIT balance sheets remain in good shape.https://www.wealthmanagement.com/reits/publicly-traded-reits-tread-water-march-remain-year?
N.Y. Fed Survey: Consumers Say It’s Harder To Get Credit
National Mortgage Professional, Apr. 10, 2023–David KrechevskyThe Federal Reserve Bank of New York’s Center for Microeconomic Data on Monday released its March 2023 Survey of Consumer Expectations (SCE), which showed …