Total returns from U.S. real estate investments will remain stable but will begin "a slight decline" this year, according to Prudential Real Estate Investors, Parsippany, N.J.PREI said it expects private, unleveraged real estate investments to produce average total returns of 12%-15% in 2006, down from 20% last year. In its quarterly outlook report on the real estate markets, PREI said, however, that the "most immediate risk" to the outlook for the commercial real estate market is the possible fallout from a slowing housing market, especially the market for condominiums. "All good things must end, including the terrific run that real estate has enjoyed over the past several years," said Youguo Liang, managing director of PREI Research. "Real estate should continue to perform well in 2006, however, and it remains attractive to investors, particularly with property fundamentals improving and new supply still years away in most markets and property types." PREI can be found online at http://www.prei.com.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
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The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
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Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
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A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
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The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
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The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24