The report has outlined that Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac absorbed the largest portion of the multifamily loan volume, accounting for 42% of the total amount. The top five lenders in this sector by dollar volume were Berkadia, Walker & Dunlop, JP Morgan Chase & Company, CBRE, and Greystone. In addition … [Read more…]
NAR chief economist Lawrence Yun commented on the implications of these record prices: “It’s terrific news for homeowners who are moving ahead in wealth gains. However, it’s difficult for those wanting to buy a home as the required income to qualify has roughly doubled from just a few years ago.” Price appreciation in cities In … [Read more…]
One former employee recounted being kept at the office until 5 a.m. and asked to underreport their hours. Another described being instructed to report fewer hours despite working through multiple all-nighters each week. High compensation an equal trade-off? The demanding nature of banking, known for long hours and high salaries, is often viewed as a … [Read more…]
The FHFA’s Office of Technology and Information Management (OTIM) is responsible for ensuring the security and resilience of the agency’s IT resources. These resources host a variety of critical data, including financial reports and information from Fannie Mae, Freddie Mac, the Federal Home Loan Banks, and Common Securitization Solutions, LLC. Additionally, the network contains personally … [Read more…]
Fitch and Morningstar DBRS have provided preliminary ratings for these bonds, ranging from AAA to B-, reflecting the varying levels of risk associated with different segments of the portfolio. JPMorgan has characterized this deal as “inaugural” in communications with potential investors, according to Bloomberg. The mortgages involved are high-value, or “jumbo,” loans recently issued by … [Read more…]
Impact of anticipated interest rate cuts Looking forward, Bank of America anticipates several interest rate cuts by the Federal Reserve over the next two years, pointing to a potential normalization of the economy. Moynihan expects the Fed to implement two rate reductions before the end of this year, with the first possibly as soon as … [Read more…]
Earnings available for distribution (EAD) attributable to common stockholders were $2.3 million, or $0.08 per diluted share. The common book value per share stood at $4.15 as of June 30, 2024. The company declared a regular common dividend of $0.15 per share, translating to an annualized common dividend yield of 16.4% based on the closing … [Read more…]
Samantha Shelton (pictured top), founder at Align Lending, told Mortgage Professional America that the industry had been viewed as an appealing one to enter during the pandemic because of the promise of big volume and booming business. Some who entered during that period may have become disenchanted and exited the space – but most of … [Read more…]
More options for renters The construction boom has provided much-needed relief for renters, who faced steep rent hikes in the years following the pandemic. The pace of rent growth has slowed significantly, with multifamily rents increasing by 5.1% since July 2022, a far cry from the 22.3% surge seen in the previous two years. The … [Read more…]
“The 30-year fixed rate fell to 6.55%, reaching its lowest level since May 2023, following doveish communication from the Federal Reserve and a weak jobs report, which added to increased concerns of an economy slowing more rapidly than expected,” said Joel Kan, MBA’s deputy chief economist. The refinance index hit its highest level since September … [Read more…]