Life insurance companies boost their commercial mortgage debt
This surge contrasts with banks, which increased their balances of commercial real estate (CRE) mortgages by just 0.3%. For the ninth consecutive quarter, multifamily properties saw aggregate mortgage balances grow more than other property types, reflecting sustained demand in this sector. The multifamily mortgage sector saw a $29.8 billion increase in outstanding debt, a 1.4% […]
November existing home sales rise as more buyers enter the market
“Home sales momentum is building,” Yun said in the report. “More buyers have entered the market as the economy continues to add jobs, housing inventory grows compared to a year ago, and consumers get used to a new normal of mortgage rates between 6% and 7%.” Freddie Mac reported that the average 30-year fixed-rate mortgage […]
Mortgage servicers pressure homeowners to refinance after divorce, loss – CFPB
Homeowners have reported waiting months, or even years, for servicers to process their loan paperwork. In some cases, servicers repeatedly requested the same documents or ignored inquiries altogether. “Servicers generally blame investor requirements, processing volumes, or ‘systems issues, rather than taking responsibility for their shoddy customer service’,” the Bureau said in the report. “When someone […]
Happy Holidays from Mortgage Professional America
It’s that time of year again. Holiday season is upon us and Mortgage Professional America (MPA) would like to wish all its readers, sponsors and partners a wonderful break. Hopefully you get the opportunity to rest well, have fun and be surrounded by those you love. Here at MPA we want to thank you for […]
Taconic Capital shuts down commercial real estate operations, transfers fund to Axonic
Taconic’s decision to close its commercial real estate operations is part of a broader effort to concentrate on its core strategies of merger arbitrage and corporate and structured credit. The firm has side-pocketed its CRE positions from its $2.9 billion flagship Opportunity Fund, aiming to manage those assets toward optimal exits. “We are in the […]
What will the US mortgage industry look like in 2025?
In the face of such uncertainty, MPA spoke to a collection of leading brokers to pick their brains over what homeowners, buyers, sellers, investors and fellow advisors can expect in the next 12 months. Yury Shraybman, Innovative Mortgage Brokers A significant issue is the nuisance of trigger leads. This practice is disruptive and can erode […]
CFPB finalizes rule on risky PACE loans linked to mortgage delinquencies
These concerns prompted Congress to mandate additional consumer protections in 2018, culminating in this rule. The Mortgage Bankers Association (MBA) and other housing advocacy groups have praised aspects of the new rule, particularly its emphasis on transparency and borrower protections. However, the MBA expressed concerns about the super lien status of PACE loans, which prioritizes […]
Mortgage executives take on new roles at Constructive Capital, Planet Home Lending
“We’re delighted to welcome Megan to our team,” said Constructive Capital president Ben Fertig. “She has a wealth of mortgage lending and operations experience, and a proven track record in developing automated underwriting systems and establishing policies for unique products. Megan has also driven operational growth for start-ups and private money lenders, particularly in the […]
Commercial mortgage delinquencies climb, led by CMBS loans
The highest delinquency rate was observed in CMBS loans, which rose to 5.15%, up 0.33% from the previous quarter. Life insurance company portfolios reported one of the lowest rates, at 0.46%, but still saw a slight uptick of 0.03%. Banks and thrifts saw their delinquency rate climb to 1.24%, driven by longer-term challenges with loan […]
A Guide To Using Business Funds For Self-Employed Borrowers
When you’re self-employed, securing a mortgage can come with its own set of unique challenges. One of the critical aspects that MortgageDepot emphasizes is the proper handling and calculation of business funds when they are used for down payments, closing costs, reserves, and other related expenses. Ensuring that your business can sustain the withdrawal of […]