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GE Capital reportedly is days away from exiting the U.S. banking system now that it completed the sale of its online deposit platform to Goldman Sachs, HousingWire reported April 18. The sale allows GE Capital to ends its Federal Deposit Insurance Corporation insurance and “extinguish” its final bank charter.
The Consumer Financial Protection Bureau’s Ability-to-Pay rule, which provides borrowers with increased protections against harmful lending practices, hasn’t seen any borrower claims since its January 2014 launch, according to a report from ratings agency Fitch Ratings, MBA NewsLink reported April 20.
The U.S. Department of the Treasury announced April 20 that it would allocate $1 billion to help struggling homeowners in 13 states, HousingWire reported. An initial $1 billion previously was allocated to 18 states as part of Treasury’s Hardest Hit Fund, which was created in 2010 to help stabilize neighborhoods.
Banks report that commercial real estate lending is becoming a major part of their business, with 82 percent of banks that participated in an American Bankers Association survey saying they plan to increase capital concentration in commercial real estate, National Mortgage Professional Magazine reported April 19.
The office market performed unevenly at the beginning of the year, but conditions look favorable for the rest of 2016 — despite slowing market momentum as leasees carefully consider their expansion plans, according to commercial real estate services firm JLL, MBA NewsLink reported April 21.
The industrial market is in high demand due to low vacancies and high cap rates, which has investors increasing acquisitions and developers ramping up speculative construction, according to a report from real estate services firm Cushman & Wakefield, National Real Estate Investor reported April 21.
Commercial real estate investment sales fell 46 percent in February year-over-year, and the recent drop has investors questioning whether it’s a temporary pullback or a major market shift, National Real Estate Investor reported on April 20.
The city of San Francisco passed legislation April 19 that requires all new residential and commercial construction of 10 floors or less to install solar panels on their roofs, Business Insider reported. The rule takes effect Jan. 1, 2017.
Average fixed mortgage rates were largely unchanged during the past week, remaining near their yearly lows as market volatility subsided, Freddie Mac reported April 21 in its Primary Mortgage Market Survey.
Home sellers saw a 17 percent average price gain in March, which is the largest increase between purchase price and sale price since December 2007, analytics firm RealtyTrac reported April 20 in its Q1 2016 U.S. Home Sales report.
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