Banks have tightened their underwriting standards on commercial real estate loans, according to a Federal Reserve Board survey, and more respondents reported weakened demand for CRE loans than did so three months ago.The Fed's survey of senior loan officers in October found that nearly 40% of banks tightened their underwriting of commercial real estate loans and 25% said demand for CRE loans had weakened. Meanwhile, 60% of the banks reported that demand for home loans had continued to weaken since the July survey. Separately, the Census Bureau reported that private construction spending for commercial real estate buildings increased for the seventh straight month, while residential construction declined for the sixth straight month. Since the beginning of the year, the value of CRE construction put in place is up 13.9% to $312.7 billion, and residential construction is down 8.4% to $610.0 billion.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25