The Real Estate Roundtable's outlook for commercial real estate (CRE) remained "modestly optimistic" in Q2 even as public policy uncertainties cloud the future, the group revealed in its Q2 2013 Sentiment Survey. The survey's "Overall Index" reading stands at 69 in the most recent release, unchanged from the previous quarter. That score is based on the average of two indices: the Current Conditions Index (which read 71 for Q2, an increase of one point over Q1) and the Future Conditions Index (67 for Q2, unchanged).
Read More »Zillow: Home Values Pick Up Steam in April, Rents Cool
Zillow's Home Value Index climbed to $158,300 for April, an increase of 0.5 percent month-over-month and 5.2 percent year-over-year. April marked the sixth consecutive month in which home values appreciated more than 5 percent on a yearly basis. "In the short-term, this has been welcome news for homeowners. But in the long-term, this cannot be sustained, and consumers entering the market today should not expect this kind of appreciation to last," said Zillow chief economist Dr. Stan Humphries.
Read More »IndiSoft, Hope LoanPort Make Enhancements to Servicer Technology
Indisoft and national nonprofit Hope LoanPort (HLP) announced technology enhancements designed to assist servicers with regulatory compliance.
Read More »Carrington Mortgage Services Builds on Leadership Team
The lending division of Carrington Mortgage Services announced the addition of industry vet Jeff Gillis as SVP of operations. In addition, Carrington announced the promotion of Mariano Demarin to national sales director for the firm's retail lending division.
Read More »Fannie Mae Predicts Economic ‘Reacceleration’ in H2 2013
In its most recent economic outlook, Fannie Mae's Economic and Strategic Research Group revealed expectations for the economy to continue the modest recovery and grow 2.2 percent this year.
Read More »Consumer Mortgage Choice Act Draws Criticism from CRL
The Center for Responsible Lending (CRL) again voiced its opposition to legislation that would amend the Truth in Lending Act (TILA) to exclude certain factors when calculating points and fees for determining qualified mortgage (QM) eligibility. In a letter to Congress, CRL argues that H.R. 1077, the Consumer Mortgage Choice Act, "promotes steering borrowers into more expensive loans" and "creates new loopholes that would allow loans with higher costs and fees to improperly meet" QM standards.
Read More »VantageScore to Host Webinar on Credit Risk Realities and Opportunities
The company behind the VantageScore credit scoring model announced a webinar covering the current credit environment and new predictive models developed post-recession. VantageScore Solutions will host the webinar, which will feature Mark Zandi, chief economist at Moody's Analytics, and Sarah Davies, SVP of analytic, product management, and research for VantageScore Solutions.
Read More »Panel Discusses Commercial Health at NAR Conference
Realtors attending the National Association of Realtors' (NAR) Midyear Legislative Meetings & Trade Expo expressed renewed confidence in a forum on the commercial real estate (CRE) market. NAR chief economist Lawrence Yun joined several Realtor CRE specialists on a panel to discuss the economy and regulatory issues and how they impact the market. In a live audience poll, the majority of attendees said their local economy is either a little better or showing a major improvement from last year.
Read More »Freddie Mac Points to New Sales as ‘Juice’ of Recovery
The juice that will fuel the economic recovery is housing, or more specifically, new home sales, Freddie Mac stated in its economic and housing market outlook report for May.
Read More »CoreLogic Case-Shiller Predicts Slowdown in Price Growth
According to the CoreLogic Case-Shiller Home Price Indexes, some markets experiencing rapid gains may soon see a slowdown or even reversal of recent trends. As homeowners looking to sell are encouraged by rising prices and as new construction picks up, increased inventory will dampen these rapid increases, according to CoreLogic. Also, rising prices will eventually ward off investors, and "it is not clear if demand from first-time and trade-up buyers will immediately fill the void," said David Stiff, chief economist for CoreLogic Case-Shiller.
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