Servicing

Given how volatile the public capital markets have been recently, some real estate investment executives speaking in New York recently said they have been finding private markets relatively more attractive.

Freddie Mac reported a 24% jump in refinancings from September to October while total loan volume rose by less than 4%.

Lennar Corp. has upsized its senior debt offering to $350 million and priced it at a 3.25% interest rate. It first proposed selling $300 million in debt. The over-allotment for the offering was also increased to $50 million from $45 million.

Application volume fell by 1.2% on a seasonally adjusted basis for the week ended Nov. 18, as purchase apps were up to their highest level since August, but refinancings were down to their lowest point since July, according to the Mortgage Bankers Association. The data for the previous week (Nov. 11) was adjusted to take into account Veterans Day.

Only one county in the country–Fairfield, Conn.–will have a higher conforming loan limit in 2012. The ceiling in the other 3,200-plus counties will remain unchanged.

Innkeepers USA Trust has emerged from Chapter 11 bankruptcy by completing the sale of 64 of its hotels to a joint venture between the private equity firm Cerberus Capital Management and the real estate investment trust Chatham Lodging Trust.

Wells Fargo is donating $1.2 million in real estate owned properties and $600,000 in cash to the nonprofit organization Rebuilding Together to help stabilize distressed housing markets.

Fitch Ratings has lowered the default rating from BBB+ to BBB for Washington Federal Savings, the savings and loan subsidiary of Washington Federal Inc.

Single-family originations by commercial banks and savings institutions jumped almost 17% in the third quarter from the prior period, but compared to a year ago production is down 23%, according to new figures released by the FDIC.

Moody's Investors Service has downgraded 16 private-label HECM reverse mortgage-backed securities from 12 deals in a move that affects $5 billion in bonds.