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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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HUD grant may salvage subsidized apartment building in Hartford
News 2 months ago
HUD grant may salvage subsidized apartment building in Hartford

Sheldon Oak Central, one of Hartford's main nonprofit developers of affordable housing, is at risk of losing half a million dollars in annual...

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Rapid e-note adoption shows aggressive push for digital mortgages
News 2 months ago
Rapid e-note adoption shows aggressive push for digital mortgages

The mortgage industry is kicking off the year with technology top of mind. The number of electronic notes added to the MERS eRegistry in the first...

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People on the move: April 12
News 2 months ago
People on the move: April 12

AEI Consultants has named Randy Ward vice president of agency services. Ward is a 30-year industry veteran and has worked extensively in the...

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Commercial real estate and multifamily lenders set new record
News 2 months ago
Commercial real estate and multifamily lenders set new record

Commercial and multifamily lenders had another banner year in 2018, when closed-loan originations rose 8% to a high of $574 billion. "Borrowing and...

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Colorado Springs-area housing supply remains historically tight
News 2 months ago
Colorado Springs-area housing supply remains historically tight

The supply of Colorado Springs-area homes for sale remained historically low last month, and finding a house in cheaper price ranges continues to...

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12 housing markets where property taxes are surging
News 2 months ago
12 housing markets where property taxes are surging

From Syracuse, N.Y., to Lake Havasu City, Ariz., here's a look at the top 12 cities where property taxes are skyrocketing, signaling a potential...

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Downtown San Jose housing tower faces default on city deal
News 2 months ago
Downtown San Jose housing tower faces default on city deal

An uncertain future confronts the development, which is located in the North San Pedro Square area of San Jose and was proposed by Z & L Properties...

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Mortgage application volume slows as interest rates rise
News 2 months ago
Mortgage application volume slows as interest rates rise

Mortgage application volume fell 5.6% from one week earlier as rising interest rates put an end to the recent surge in refinancings, according to...

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Miami-Dade says affordable housing isn't what it used to be
News 2 months ago
Miami-Dade says affordable housing isn't what it used to be

Miami-Dade would increase the cap on prices that affordable-housing developers can charge for homes built using county money or land, with...

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Mortgage lender poised to begin digital bank experiment
News 2 months ago
Mortgage lender poised to begin digital bank experiment

As the head of Everett Advisory Partners for nearly a decade, Stephen Curry - like a lot of strategy consultants - urged community and regional...

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New-home loan apps suggest spring buying will be better this year
News 2 months ago
New-home loan apps suggest spring buying will be better this year

Loan applications for newly constructed properties accelerated going into this year's peak home buying season, contrasting with the weakness seen...

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Mortgage delinquencies fall to their lowest January in 20 years
News 2 months ago
Mortgage delinquencies fall to their lowest January in 20 years

With a strong job market and low interest rates, the mortgage delinquency rate fell to its lowest January level in at least 20 years. The trend is...

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CMBS delinquencies rise as late payments on retail properties increase
News 2 months ago
CMBS delinquencies rise as late payments on retail properties increase

The commercial mortgage-backed securities delinquency rate increased for the first time since October, led by a 31-basis-point rise in late...

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Mortgage credit availability rises with more jumbo loans offered
News 2 months ago
Mortgage credit availability rises with more jumbo loans offered

Mortgage lending standards loosened in March, as a swell in jumbo credit helped drive an expansion in availability for the third straight month,...

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Average mortgage rates stabilize after several weeks of declines
News 2 months ago
Average mortgage rates stabilize after several weeks of declines

Mortgage rates held steady after several weeks of declines, during which there was the largest weekly drop in more than 10 years, according to...

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Starwood's Sternlicht says real estate health tied to tech
News 2 months ago
Starwood's Sternlicht says real estate health tied to tech

The fate of U. S. office markets is intertwined with that of the biggest technology companies, Starwood Capital Group Chairman Barry Sternlicht...

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FHFA’s Otting authorizes GSE affordable housing payments
News 2 months ago
FHFA’s Otting authorizes GSE affordable housing payments

WASHINGTON - Acting Federal Housing Finance Agency Director Joseph Otting has authorized Fannie Mae and Freddie Mac to contribute to the National...

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Lower mortgage rates drive increase in refinance applications
News 2 months ago
Lower mortgage rates drive increase in refinance applications

Mortgage refinance applications reached their highest level in three years as interest rates plunged last week in the aftermath of the Federal Open...

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Zillow rebrands mortgage business to match corporate identity
News 2 months ago
Zillow rebrands mortgage business to match corporate identity

Zillow Group is rebranding Mortgage Lenders of America, the call center originator it bought last year to provide property purchasers from its home...

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Preferred Bank to take 1Q hit on foreclosed Manhattan condos
News 2 months ago
Preferred Bank to take 1Q hit on foreclosed Manhattan condos

Preferred Bank in Los Angeles will take a roughly $1.4 million hit to earnings after selling two multifamily properties in Manhattan. The $4.2...

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Scorecard disparity leads Fannie Mae to tweak its multifamily CRT mix
News 2 months ago
Scorecard disparity leads Fannie Mae to tweak its multifamily CRT mix

A wide gap emerged between Fannie Mae and Freddie Mac on a Federal Housing Finance Agency scorecard item, and that prompted Fannie to diversify its...

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SoFi reboots its mortgage business with new name, updated processes
News 2 months ago
SoFi reboots its mortgage business with new name, updated processes

Digital lender Social Finance rebranded its mortgage business as SoFi Home Loans approximately four months after it took a step back from real...

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New-home sales rebound in February, exceeding estimates
News 2 months ago
New-home sales rebound in February, exceeding estimates

Sales of new homes rebounded to the best pace in almost a year and exceeded estimates in February, led by the Midwest, as lower mortgage costs...

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