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The Federal Housing Finance Agency on Feb. 6 announced new housing goals for Fannie Mae and Freddie Mac for 2018-20. The goals for single-family homes remain largely unchanged, but the goals for multifamily properties call for increased mortgage purchases for properties with affordable units.
The U.S. warned nine lenders that they may be kicked out of a top mortgage program unless they stop rapid refinancing of veterans’ mortgage loans, Bloomberg reported Feb. 8. A probe by Ginnie Mae found that some lenders are enriching themselves through repeated, unnecessary and costly refinancing actions.
The Consumer Financial Protection Bureau on Feb. 7 issued a request for information seeking feedback on its enforcement processes. Specifically, the CFPB wants to lean how well it’s currently enforcing financial law so that it can improve results for consumers and covered entities.
Single-tenant net lease big-box store cap rates jumped 25 basis points last year to 6.75 percent, according to commercial real estate brokerage firm Boulder Group, MBA NewsLink reported Feb. 7. The increase is attributed to shrinking square footage demands from big-box retailers.
The commercial real estate sector has enjoyed years of steady growth but the cycle appears to be nearing its end, according to real estate valuation firm Integra Realty Resources, MBA NewsLink reported Feb. 7. However, experts remain “cautiously optimistic” because of solid performance in the office and the industrial property sectors.
Banks tightened their standards on commercial real estate loans in January but left standards for home loans unchanged, according to a survey of loan officers conducted by the Federal Reserve and released Feb. 6.
More Americans believe now is a good time to purchase or sell a home, as many report strong job security and an expectation that home prices will continue to rise during the year, Fannie Mae reported Feb. 7 in its Home Purchase Sentiment Index.
Mortgage rates increased again during the past week — one that saw wild swings in the stock market, Freddie Mac reported Feb. 8 in its Primary Mortgage Market Survey. Rates reached their highest point since December 2016; treasury yields also were up once the financial markets settled down.
The Appraisal Institute was part of a coalition of more than 20 real estate industry organizations that submitted a letter to the Appraisal Subcommittee on Feb. 13 opposing TriStar Bank’s request for a temporary waiver from appraiser certification requirements.
The Appraisal Institute announced Feb. 14 that it is accepting nominations for the Lifetime Achievement Award and the Outstanding Service Award, two ways AI recognizes some of its brightest, most committed and deserving professionals.
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