BNP Residential Properties Inc., Charlotte, N.C., has reported the resignation of B. Mayo Boddie, its longtime chairman of the board, and the election of Philip S. Payne, chief financial officer and director, to replace him.The real estate investment trust said Mr. Boddie, who had been chairman since the company's inception in 1987, has been named chairman emeritus and will continue to serve on the board. He resigned to "scale back on his work-related commitments," the REIT said. Mr. Payne will continue to serve as CFO. BNP, an umbrella partnership REIT, can be found online at http://www.bnp-residential.com.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18