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Consumer Financial Protection Bureau Director Richard Cordray delivered his semi-annual report to the House Financial Services Committee Sept. 29, signaling that financial regulators are working on guidance for a “hold-harmless” period to facilitate compliance with TILA-RESPA integrated disclosures that take effect Oct. 3, the ABA Banking Journal reported.
Qualified mortgage rules that took effect January 2014 and were mandated by the Dodd-Frank Act have had little effect on consumers’ ability to get a mortgage, according to a Federal Reserve review of mortgage disclosure data, MarketWatch reported Sept. 22.
Freddie Mac announced on Sept. 15 a new program to help increase the energy efficiency of multifamily properties by offering a rebate on new mortgages for borrowers who voluntarily submit an Energy Star Score with their loan documents.
Most residents of New York City and Philadelphia live in multifamily buildings, but single-family homes rule in Detroit and Oklahoma City, according to the U.S. Census Bureau’s American Community Survey, The Washington Post reported Sept. 21. The survey tracks housing types popular in 40 U.S. cities.
Average fixed mortgage rates dropped during the past week after the Fed rejected a benchmark interest rate hike, Freddie Mac reported Sept. 24 in its Primary Mortgage Market Survey.
The number of households spending more than half their income on rent could rise by 11 percent over the next decade and lead to an affordability crisis, according to a report released Sept. 21 by Harvard University’s Joint Center for Housing Studies and Enterprise Community Partners Inc.
Housing values in 29 states and the District of Columbia now fall within the “stable” range of Freddie Mac’s Multi-Indicator Market Index, the government-sponsored enterprise reported Sept. 23. The District of Columbia, North Dakota and Montana have the nation’s most stable housing values.
Lender interest in commercial mortgages continues to grow, but they still favor multifamily and industrial properties over retail properties, despite significant growth in the retail sector, the National Real Estate Investor reported Sept. 24.
Recent stock market volatility has not derailed the hotel sector’s positive momentum, with average long-run revenue per available room expected to steadily grow through 2018, according to analytics firm PKF Hospitality Research, MBA NewsLink reported Sept. 18.
Aging buildings and outdated amenities have rendered 14 to 20 percent of suburban office space obsolete, according to a report from commercial real estate service firm Newmark Grubb Knight Frank, MBA NewsLink reported Sept. 21.
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