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Mortgage applications decrease even as interest rates fall
News 1 month ago
Mortgage applications decrease even as interest rates fall

Mortgage applications decreased 4.3% from one week earlier although concerns over the global economy resulted in falling interest rates, according...

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Poor credit won't bar a mortgage broker from getting a surety bond
News 1 month ago
Poor credit won't bar a mortgage broker from getting a surety bond

Being a mortgage broker can be a lucrative career path for those with industry experience and a loyal customer base. With more than 11,000 licensed...

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Savannah could get more affordable housing under proposed programs
News 1 month ago
Savannah could get more affordable housing under proposed programs

About 44% of Savannah, Ga., families cannot afford quality housing, according to city officials. In other words, almost 24,000 local households are...

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New Jersey tightening licensing requirements for servicers
News 1 month ago
New Jersey tightening licensing requirements for servicers

A New Jersey law going into effect this summer adds to a growing number of state-level efforts to require more mortgage servicers to obtain...

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Blackstone secures new $1.15B CMBS with trade showroom portfolio
News 1 month ago
Blackstone secures new $1.15B CMBS with trade showroom portfolio

Affiliates of the Blackstone Group will market a series of commercial mortgage-backed bonds secured by an unusual asset: a portfolio of trade...

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Commercial mortgages put into special servicing increased in 2018
News 1 month ago
Commercial mortgages put into special servicing increased in 2018

Commercial mortgages placed into special servicing grew last year, but default and foreclosure dollar volume fell as legacy loan resolutions...

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San Francisco home sales drop, suggesting slowdown in market
News 1 month ago
San Francisco home sales drop, suggesting slowdown in market

A drop in property sales in San Francisco suggests a housing slowdown despite a booming economy, according to city Assessor-Recorder Carmen Chu....

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Can California boost homebuilding without supercharging gentrification?
News 1 month ago
Can California boost homebuilding without supercharging gentrification?

Along a stretch of South Los Angeles near the Expo light rail line, investment dollars are pouring in. Landlords outfit vacant apartments with...

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Las Vegas affordable housing shortage at crisis level
News 1 month ago
Las Vegas affordable housing shortage at crisis level

Ten years after the burst of the U. S. housing bubble sent Las Vegas into economic crisis, real estate has made a comeback in the Valley. Residents...

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News 1 month ago
Refinanced loans for office and water parks highlight $938M Wells CMBS

Refinanced commercial mortgages for a renovated office park in Florida and a Great Wolf Lodge water park location in Southern California highlight...

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Quicken Loans parent company beefing up Canadian investments
News 1 month ago
Quicken Loans parent company beefing up Canadian investments

Quicken Loans parent company Rock Holdings is strengthening its investments in the Canadian market by acquiring a majority stake in Lendesk, a...

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GE puts WMC Mortgage into bankruptcy as it faces $1.7B in settlements
News 1 month ago
GE puts WMC Mortgage into bankruptcy as it faces $1.7B in settlements

General Electric placed its WMC Mortgage unit into Chapter 11 bankruptcy protection as the inoperative subprime mortgage originator has nearly $1.7...

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Rising rates now affecting purchase mortgage application activity
News 1 month ago
Rising rates now affecting purchase mortgage application activity

Purchase mortgage applications, which until now were unaffected by the recent rise in interest rates, fell by 4% on a seasonally adjusted basis...

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Building up Santa Fe's multifamily housing inventory
News 1 month ago
Building up Santa Fe's multifamily housing inventory

With as many as 2,155 apartment units either proposed or under construction in Santa Fe, observers have different views on what role these large...

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Brookfield financing mall portfolio mortgage through $295M CMBS transaction
News 1 month ago
Brookfield financing mall portfolio mortgage through $295M CMBS transaction

Mall operator Brookfield Properties Retail Group is tapping the commercial mortgage bond market to partially finance a new mortgage for a cross...

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Mortgage industry zeros in on two technologies to improve processes
News 1 month ago
Mortgage industry zeros in on two technologies to improve processes

The mortgage industry identified two technology initiatives it claims have the greatest potential to improve processes and be the most broadly...

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Millennials on the move offer smaller mortgage lenders big opportunity
News 1 month ago
Millennials on the move offer smaller mortgage lenders big opportunity

Millennials have long been blamed for pushing transgenerational businesses to extinction. Even financial institutions with storied pasts have not...

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Housing starts fall in March to weakest pace since 2017
News 1 month ago
Housing starts fall in March to weakest pace since 2017

New-home construction unexpectedly fell in March, decelerating to the slowest pace since May 2017 and suggesting builders remain wary even as lower...

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More online mortgage shopping equals lower servicer retention rates
News 1 month ago
More online mortgage shopping equals lower servicer retention rates

Consumers increasing their online shopping for homes and loans is a reason why mortgage servicers' retention rates haven't improved much since the...

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Trump's housing agency cracks down on no-money-down home loans
News 1 month ago
Trump's housing agency cracks down on no-money-down home loans

The Trump administration is cracking down on national affordable housing programs because of concern over growing risk to the government's almost ...

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Average mortgage rates rise again, but so does purchase activity
News 2 months ago
Average mortgage rates rise again, but so does purchase activity

Mortgage rates rose for the third consecutive week, but home purchases are up as well, to their highest level in nine years, according to Freddie...

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Closed loan and refinance shares grow on sinking mortgage rates
News 2 months ago
Closed loan and refinance shares grow on sinking mortgage rates

Mortgage rates continued to decline through the spring home buying season, driving up the share of refinance loans and overall closing rates,...

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Independent mortgage bankers see profit per loan nearly halved in 2018
News 2 months ago
Independent mortgage bankers see profit per loan nearly halved in 2018

Surging loan production expenses and low revenue killed profits in 2018 for loans originated by independent mortgage bankers and subsidiaries of...

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Destiny USA mall may default on its mortgage
News 2 months ago
Destiny USA mall may default on its mortgage

Destiny USA, one of the largest malls in the nation, is struggling to pay its mortgage, according to a published report. The Wall Street Journal...

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Rising mortgage rates again reduce refinance application volume
News 2 months ago
Rising mortgage rates again reduce refinance application volume

Higher interest rates cut refinance mortgage application volume and reduced overall activity even as the purchase index reached a nine-year high,...

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Commercial, mortgage, card lending rise at U.S. Bancorp
News 2 months ago
Commercial, mortgage, card lending rise at U.S. Bancorp

Growth in commercial lending, mortgage lending and some payments businesses helped U. S. Bancorp match profit expectations for the first quarter....

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Big Easy investor group taps CMBS to purchase Hyatt New Orleans
News 2 months ago
Big Easy investor group taps CMBS to purchase Hyatt New Orleans

An investor group is financing most of the $398 million purchase of the Hyatt Regency New Orleans in the commercial mortgage bond market. The...

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Lenders should rethink their priorities for digital mortgages, use AI
News 2 months ago
Lenders should rethink their priorities for digital mortgages, use AI

For years, mortgage lenders have struggled under the burden of two, traditionally conflicting directives: lowering loan costs and improving loan...

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12 natural disaster-prone cities at risk for mortgage defaults
News 2 months ago
12 natural disaster-prone cities at risk for mortgage defaults

As the dangers of global warming lead to heightened natural disasters, those disasters result, at least temporarily, in a higher amount of mortgage...

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Citi's mortgage revenue rises as business continues to shrink
News 2 months ago
Citi's mortgage revenue rises as business continues to shrink

Citigroup's first quarter mortgage-related revenue increased compared with the fourth quarter - although down slightly from the same period last...

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