Industries

Banks seeking to offload CRE assets are finding a receptive marketplace while regulators have managed to keep the situation in balance, observers say.

The former president of the servicing giant stepped down from his previous role in early 2024 but continued to hold board positions at parent and partner businesses.

Proceeds from the sale will be used by HomeStreet to pay down Federal Home Loan Bank advances and brokered deposits.

The residential market is expected to face challenges from stubbornly high mortgage rates and limited supply in 2025, particularly after Fed Chair Jerome Powell's comments on Wednesday indicating fewer rate cuts are coming.

The Federal Deposit Insurance Corp.'s Q3 Quarterly Banking Profile report highlighted net bank income falling 8.6%, but also showed slow delinquency growth in commercial real estate and core income metrics improving across the banking sector.

The Financial Stability Oversight Council's annual report underscores mounting challenges in commercial real estate, escalating cyber threats, and regulatory gaps in third-party services and stablecoins, urging stronger oversight and legislative action.

The president-elect had billed his hardline stance on the border and promised deportations as a solution to tight housing markets. Experts say those policies, at least in terms of housing, could do more harm than good.

Pressure on core home improvement categories won't "be completely eased until the housing market is back on much firmer footing, which will not be until well into 2025 at the earliest," wrote Neil Saunders, managing director at GlobalData, in a note.

In its semiannual supervision and regulation report, the Federal Reserve flagged climbing loan delinquencies and a rising number of large bank citations for governance and controls.

Home Depot said Tuesday that it saw a pickup in demand for seasonal items and supplies for certain outdoor projects, some of which was related to hurricanes that have struck the U.S. in recent months.