Origination

The cracks in the commercial real estate market are widening from offices to apartment complexes, with more than $67 billion of the housing potentially distressed as borrowers struggle to repay loans extended during the height of the pandemic.

This legislation, which would be the first of its kind if passed, would apply to sellers who finance the rate buydowns made through the end of 2025.

The company, and Rocket, had been targets of United Wholesale Mortgage's All-In campaign, which punished independent brokers who did business with the UWM rivals.

It's possible that the remaining litigation could be resolved by mid-year, wrote Keefe, Bruyette and Woods analyst Ryan Tomasello

The annual reconciliation shows nonbank cuts were deeper than the initial read suggested, and comes as the latest numbers for broader employment show a surge.

A day after the regional bank's stock tumbled on tough fourth-quarter results and some austerity moves, observers debated whether management just needs time to build enough capital to catch up with growth or if it is still too overexposed in multifamily lending.

With tougher capital requirements looming, a number of regionals including U.S. Bancorp, Huntington and Santander are using these new instruments to share risk with nonbank investors and lighten their capital load. Experts point out the pros and cons.

Equity-rich mortgages — those that have a loan-to-value ratio of 50% or lower, meaning the borrower's equity stake is at least half the property's value — decreased to 46.1% from 47.4% the prior quarter, according to the US Home Equity & Underwater Report published by real estate data firm ATTOM. 

As a result, a robust housing market is now on the horizon, Freddie Mac chief economist Sam Khater declared.

The Tax Relief for American Families and Workers Act of 2024 includes restoration of a 12.5% increase in the program's 9% limit that expired in 2021.