It's Friday desk clearing time for this blogger. "A San Diego-based mortgage lender has agreed to pay nearly $25 million to resolve allegations that it knowingly approved ineligible loans that later defaulted, resulting in mortgage insurance claims to the Federal…
A report from the Wall Street Journal. "Signs of stress in New York City’s commercial properties are fueling investor bets that trouble in the nation’s largest real-estate market could spread pain nationwide. 'Distress in financial markets was all about residential…
A report from USA Today. "The housing market has been booming during the COVID-19 crisis, but America’s cities are taking it on the chin. Big cities like New York and San Francisco, in particular, are struggling with falling prices. 'Since…
It's Friday desk clearing time for this blogger. "Record vacancies dropped Manhattan apartment rental prices to their lowest levels in seven years as tenants continued to flee the city. The number of apartment listings tripled from a year earlier to…
A weekend topic starting with Bloomberg. "Regional players New York Community Bancorp Inc. and Signature Bank are becoming a case study for potential trouble from a sudden downturn in the Big Apple’s property sector, and their share prices are suffering.…
A report from BU News Service on Massachusetts. "Some property owners leave vacant units rather than bear the costs of lost rent, maintenance, utilities and other bills they may never recoup. 'I’ve put [some units] out of touch for the…
A report from the Pioneer Press in Minnesota. "Taylor Swartwood bought a small apartment building off Rice Street a few years ago for $157,000. He’ll pay $4,500 in total property taxes (city, county, school district and special taxing districts) and…
A report from the Wall Street Journal. "Forbearance allows homeowners to suspend their monthly payments when they experience a virus-related hardship without the usual consequences of delinquency or even foreclosure. The flood of requests have mortgage servicers working overtime and…
A report from 4WWL in Louisiana. "Many operators of short-term rentals in New Orleans are seeing a dramatic drop in bookings during the pandemic. 'So that’s become a real problem especially for the host that purchased properties as a function…
A report from Geekwire. "'We’re running naked through the jungle with a Bowie knife clenched between our teeth, which is the way Redfin was born to be,' CEO Glenn Kelman told analysts. 'We’re omnivorous. We’re going to try to take…