Mortgage applications saw a slight bump in the recent holiday week, according to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey. The survey's Market Composite Index, a measure of mortgage loan application volume, increased 3.4 percent on a seasonally adjusted basis for the week ending February 1. Capital Economics also issued its data for mortgage application activity throughout January, observing that application volume for purchase loans was the strongest it's been in a year and a half.
Read More »Fed Governor Addresses Sour Sentiment Among Community Banks
In a speaking engagement, Federal Reserve Governor Elizabeth A. Duke addressed the plight of community bankers and maintained "the future of community banking is bright."
Read More »Trulia: Asking Prices Post Major Gains, Rent Prices Cool in January
Asking prices rose dramatically in January as renting prices cooled off somewhat, according to the latest data in Trulia's Price and Rent monitors. The company's Price Monitor showed a 0.3 percent quarter-over-quarter rise in January (without seasonal adjustment). On a seasonally adjusted basis, prices increased 2.2 percent quarterly. While January's numbers signal a strong price recovery, Trulia's chief economist warned the month's gains could disappear in some areas.
Read More »Justice Department Sues S&P Over Pre-Crisis Ratings
The Justice Department (DoJ) and Standard & Poor's (S&P) are at odds with other over civil fraud charges stemming from an alleged scheme to defraud investors in the lead-up to 2008's financial meltdown. The DoJ filed a civil lawsuit against S&P and its parent company, McGraw-Hill, Monday, alleging that S&P "knowingly [issued] inflated credit ratings" for collateralized debt obligations in the years before the crash, misrepresenting their creditworthiness and understating their risks.
Read More »Freddie Mac Names Top Multifamily Lenders of 2012
CBRE Capital Markets was 2012's top seller of multifamily loans, according to a release from Freddie Mac.
Read More »Consumer Confidence Falls as Middle Class Reports Difficulties
A new poll from the Consumer Reports National Research Center (CRNRC) shows consumer confidence is off to a sluggish start in 2013.
Read More »Capital Economics: Price Gain Forecasts Under 5% ‘Conservative’
Realtors in December expected prices to rise by about 3.5 percent over the next year, while consumer estimates were more modest at 2.5 percent for the same time period, Capital Economics noted in its monthly housing report. The estimates show a growing optimism among those groups. But, with the low supply of inventory, Capital Economics anticipates much bigger gains.
Read More »Fannie Mae Finances $33.8B in Multifamily Loans in 2012
Fannie Mae maintained its position as the largest source for multifamily financing in 2012 after providing $33.8 billion to the sector.
Read More »Demand, Credit Terms for Loans Both Ease in Q1
The percentage of banks reporting stronger demand for mortgage loans dropped in the first quarter from the fourth quarter last year, and a slightly greater percentage are reporting easing lending standards, the Federal Reserve Reported Monday. In the case of "traditional" mortgage loans, 4.6 percent of banks reported standards easing somewhat. While the survey results suggest a direction of lending standards, they could be misleading: A bank which has tightened lending standards as much as possible may not ease them but cannot tighten further.
Read More »MBA: Commercial/Multifamily Originations Up 24% in 2012
Commercial and multifamily originations increased 24 percent from 2011 to 2012, according to the Mortgage Bankers Association.
Read More »