Commercial and multifamily mortgage bankers' loan originations were strong in the first quarter, according to the Mortgage Bankers Association's Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.While down from the fourth quarter of last year, first-quarter originations were up 37% compared to the same period last year. "Increases in total commercial/multifamily mortgage originations were led by increases in commercial mortgage-backed securities conduit loans and loans financing office properties," said Jamie Woodwell, MBA's senior director of commercial/multifamily research. The increase in lending activity was driven by increases in originations for all property types. When compared to the first quarter of 2006, the overall increase included a 64% increase in loans for health care properties, a 62% increase in loans for office properties, a 37% increase in loans for hotel properties, 26% increase in loans for multifamily, 25% increase in loans for retail properties and a 14% increase in loans for industrial properties. First-quarter 2007 mortgage bankers' originations were 15% lower than originations in the fourth quarter of 2006, reflecting the industry's usual push to finalize deals before the end of the year, and the traditional and subsequent drop-offs in first quarter numbers. First quarter numbers show decreases in all property types except hotel.
-
A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
9h ago -
Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
11h ago -
While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
July 11 -
The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
July 11 -
Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
July 11 -
The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
July 11