Standard & Poor's has announced that General Growth Properties will replace Mellon Financial Corp. in the S&P 500 and that two other real estate investment trusts will be replaced in the S&P REIT Composite Index.GGP, a Chicago-based REIT, will replace Mellon in the S&P 500 after the close of trading on June 29 because the latter is merging with The Bank of New York Co. to create The Bank of New York Mellon Corp., S&P reported. Supertel Hospitality Inc., Norfolk, Neb., will replace Winston Hotels Inc. in the S&P REIT Composite after the close of trading on June 29 because Winston is being acquired by Inland American Real Estate Trust Inc. In addition, Republic Property Trust, Herndon, Va., will replace Innkeepers USA Trust after the close of trading on June 29 because Innkeepers is being acquired by Apollo Investment Corp.
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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.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18