Foreclosures | Mortgages | Financing
A recent report from the Mortgage Bankers Association showed that mortgage credit availability is on the decline, with the Mortgage Credit Availability Index for May showing a decrease for the third straight month. And a new report from Fannie Mae suggests there’s no light at the end of the tunnel for those who hope to see credit standards relaxed any time soon. …read more
From:: Real Estate Wire
A recent report from the Mortgage Bankers Association showed that mortgage credit availability is on the decline, with the Mortgage Credit Availability Index for May showing a decrease for the third straight month. And a new report from Fannie Mae suggests there’s no light at the end of the tunnel for those who hope to see credit standards relaxed any time soon. …read more
From:: Real Estate Wire
The good news is that appraisal volume bounced back from the drop in volume caused by Memorial Day. However, looking ahead, Kevin Golden, director of analytics with a la mode, gives his prediction for the summer-buying season. …read more
From:: Real Estate Wire
The Board of Governors at FINRA just announces their selection for the company’s new CEO. Here is what Cook brings to the company, and why the soon-to-be former CEO says Cook is one of the leading practitioners on broker-dealer and market regulation. …read more
From:: Real Estate Wire
Whereas the annual stress tests that the Fed requires from banks may be making them safer, it could also be restricting lending. Bank of America’s CEO explains why that is, and how these tests are affecting banks. …read more
From:: Real Estate Wire
With more than 300,000 new units coming in 2016, resident retention is more important than ever. The culture of a property is a major factor in keeping residents at existing properties.
Hiring the right staff for your property management company is not only a strong business strategy, but it’s also an important lease renewal strategy. Residents who are comfortable with your staff will be happier and more likely to renew their leases each year. According to a recent article from Multifamily Executive: “The right staff members can play a pivotal role in renewals. From speedy service request responses to individualized attention that makes residents feel like they have a place in the community and a relationship with the property and those managing it, the building personnel can be the key to ensuring that residents will be excited to stay put.”
Read more on Multifamily Executive.
From:: Property Management
The British pound dropped after a poll released Tuesday showed rising support for the U.K. to leave the European Union. Market research firm TNS said 47% of likely voters it surveyed back a so-called Brexit from the bloc, compared with 40% who wish to remain. The pound briefly fell below $1.41 in London afternoon trade. The TNS poll gauged the opinions of 2,497 adults in the U.K. TNS said 13% of respondents were undecided or said they wouldn’t vote. On Monday, separate polls from the Sunday Times/YouGov and ICM/Guardian newspaper showed more voters are in favor of Britain ditching the EU.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Following suit with the last month’s report, CoreLogic’s foreclosure report for April 2016 continued the downward trend to lows not seen since 2007. Though there is still room for improvement, foreclosure inventory already decreased 68.9% from its 2010 peak, here’s the details. …read more
From:: Real Estate Wire
Shares of Synchrony Financial plunged $2.52, or 8.3%, in morning trade Tuesday, putting it on track to suffer the biggest one-day price and percentage declines since it went public nearly two years ago, after the consumer financial services company disclosed expectations of higher charge-off rates. The stock was the leading decliner among components of the S&P 500 on Tuesday. The company, which was part of General Electric Co. before being spun off in July 2014, said in a regulatory filing Tuesday that it now expects an increase of 20 basis points to 30 basis points in net charge-off rates over the next 12 months, which should lead to higher reserve builds starting this quarter. The stock’s previous biggest decline was when it fell $1.46, or 5.1%, on Feb. 2, 2016. It has now shed 8.2% year to date, while the S&P 500 has gained 1.7%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
As consumers demand and expect more access to information, Ten-X has developed mobile applications designed to meet those needs, adding up to an extensive suite of online and mobile tools. …read more
From:: Real Estate Wire