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Tag Archives: REIT

Flagstar to Sell $40.7B in Servicing Rights to REIT

Flagstar Bancorp, Inc., announced a deal with Matrix Financial Services Corporation, a subsidiary of Two Harbors, an REIT. According to Flagstar's announcement, the agreement covers the sale of $40.7 billion in unpaid principal balance on residential MSRs, an amount making up about 55 percent of Flagstar's mortgage loans "serviced-for-others" portfolio. The pool of loans covered in the deal is made up of loans originated mostly after 2010 and serviced for Fannie Mae and Ginnie Mae, the announcement says.

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Investment Firm Projects Weak Q3 for Mortgage Banks

Investment bank FBR's third-quarter mortgage originations estimate is $349 billion, a 29 percent decline over the quarter. The abating refinance market is a major drag on the mortgage industry, and, "[w]e do not believe that there will be a strong enough increase in the purchase market this quarter to offset the loss in refi volume," FBR stated. FBR estimates a 46 percent decline in refinances in the third quarter and a 2 percent rise in purchase originations.

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New Report Projects Strong Housing Growth

A recent industry survey detects rising optimism in the commercial real estate and single-family housing sectors over the next few years. The survey, conducted by the Urban Land Institute and Ernst & Young, finds a consensus among analysts that the real estate market will improve as transaction volumes rise and vacancies decline. "After a prolonged period of uncertainty, we're seeing a revival of investor confidence as the economy continues to recovery," said Dean Schwanke, SVP at the Urban Land Institute.

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S&P Dow Jones Launches Equal Weight REIT Index

S&P Dow Jones Indices, the largest provider of financial market indices in the world, announced the launch of the Dow Jones U.S. Select Equal Weight Real Estate Investment Trust (REIT) Index. The new index is designed to measure the performance of publicly traded REITs and REIT-like securities, serving as a proxy for direct real estate investment.

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Commercial/Multifamily Mortgage Debt Posts Third-Quarter Gains

Outstanding commercial/multifamily debt increased in the third quarter, marking a full year of quarterly increases, according to the Mortgage Bankers Association (MBA). In dollar volume, commercial/multifamily mortgage debt rose $6.6 billion over the quarter, bringing the national total to $2.38 trillion. The greatest third-quarter increase in commercial/multifamily debt was seen in agency and GSE portfolios and mortgage-backed securities, a sector that reported an increase of $9.4 billion.

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Clouds May Lift for Housing, Economy by 2014: Survey

Housing lingered in the doldrums of a recovery last year but may pick up by 2014 as the U.S. economy generally improves, analysts and economists said Wednesday. The Urban Land Institute polled 38 real estate analysts and economists to signal their expectations for "broad improvements" in the nation├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós economy and real estate markets in 2012. The survey revealed that transaction volume in commercial real estate markets could reach as much as $312 billion in 2014, up from a projected $250 billion in 2012. The news is welcome for an industry that has stayed under a cloud since the crisis.

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