Redfin, Seattle, said its analysis of homes for sale in high fire-risk areas found the median sale price of U.S. homes with high fire risk was $550,500 in April, compared with $431,300 for homes with low fire risk—a difference of nearly $120,000.
Category: News and Trends
Mortgage Holders Gain $1.2 Trillion in 1Q Tappable Equity
The least-affordable housing market in nearly two decades provides at least one windfall—the average home has gained nearly 9 percent in value since just the start of 2022, with homeowners gaining more than $1.2 trillion in equity in the first quarter, said Black Knight, Jacksonville, Fla.
Fitch: CMBS Properties See NOI Recovery
Fitch Ratings, New York, reported property-level net operating income for commercial mortgage-backed securities loans rebounded 6.1 percent on average in 2021.
Home Values in ‘Opportunity Zones’ Keep Pace with National Gains
Home values in federal and state Opportunity Zone Redevelopment Areas—the controversial zones created in 2017 to spur economic development—are keeping up with nationwide home values, reported ATTOM, Irvine, Calif.
FHFA Publishes Final Rule on GSE Capital Plans
The Federal Housing Finance Agency published a final rule that supplements the Enterprise Regulatory Capital Framework by requiring Fannie Mae and Freddie Mac to submit annual capital plans to the Agency and provide prior notice for certain capital actions.
Trepp: Disruptions Sink Life Insurance Mortgage Returns
Trepp, New York, said life company investments are feeling the effects of major market events that have taken place since early 2022.
MISMO Issues Reporting Guide on Forbearance Data Exchange
MISMO®, the real estate finance industry standards organization, launched a new guide and sample credit response to help industry professionals using MISMO Reference Models v3.4 and v3.5 better report on loans that have been in or are in forbearance.
‘Zombie’ Properties Increase Amid Jump in Foreclosure Activity
ATTOM, Irvine, Calif., said residential properties in the process of foreclosure rose by nearly 13 percent in the second quarter and by nearly 16 percent from a year ago.
Quote
“Given the strength in market fundamentals and valuations for most property types, delinquency rates are at the lower end of their historical range for most major capital sources.”
–Jamie Woodwell, MBA Vice President of Commercial Real Estate Research.
Summit LLC Podcast Features MISMO’s Seth Appleton on Ginnie Mae, Securitization, Digital Mortgages
The latest Summit LLC Podcast, Complexity Simplified, features MISMO President Seth Appleton and Summit Director Josh Goldberg in a wide-ranging discussion on Ginnie Mae, securitization and issues relevant to the Bipartisan Policy Center’s Housing Council.