“For the last three years, I have fully embraced HUD’s mission to create strong, sustainable, inclusive communities and quality affordable homes for all,”
–Marcia L. Fudge, Secretary of the U.S. Department of Housing and Urban Development, on her resignation
“For the last three years, I have fully embraced HUD’s mission to create strong, sustainable, inclusive communities and quality affordable homes for all,”
–Marcia L. Fudge, Secretary of the U.S. Department of Housing and Urban Development, on her resignation
Marcia L. Fudge, the 18th Secretary of the U.S. Department of Housing and Urban Development, announced she will resign effective March 22, 2024.
CRED iQ, Wayne, Pa., reported the Distress Rate for all property types trimmed 4 basis points in February to 7.35%. However, the multifamily distress rate was up 80 basis points–the largest monthly increase in that sector in more than a year and a half.
The delinquency rate for commercial mortgage-backed securities inched upward in February, according to Trepp, New York.
CoreLogic, Irvine, Calif., released its Homeowner Equity Insights report for the fourth quarter of 2023, finding homeowners with mortgages have seen their equity increase by a total of $1.3 trillion since Q4 2022. That’s a gain of 8.6% year-over-year.
It’s no secret that mortgage lenders have seen a sharp decrease in origination volumes over the past two years. Higher interest rates coupled with a shortage in housing inventory translate into a market environment where origination volumes are likely to remain depressed for the near future.
MBA’s President and CEO Bob Broeksmit, CMB, released a statement on the Biden administration’s announcements on housing at the State of the Union address.
Last week Fed Chair Jay Powell testified to Congress that as “labor market tightness has eased and progress on inflation has continued, the risks to achieving our employment and inflation goals have been moving into better balance.”
MBA’s President and CEO Bob Broeksmit, CMB, released a statement on the Consumer Financial Protection Bureau’s (CFPB) blog post Friday morning on housing costs.
