Prominence
Pending Freddie Mac Relief Refinance Changes to Help Lenders Refinance More Borrowers
Freddie Mac announced plans to build on the success of its Relief Refinance Mortgage Program, which includes the Home Affordable Refinance Program (HARP 2.0), by aligning requirements for mortgages with loan-to-value ratios that are equal to or less than 80 percent with those for mortgages with LTV ratios greater than 80 percent.
Second Quarter Commercial/Multifamily Mortgage Originations Up 25 Percent from Q2 2011
Commercial/multifamily mortgage origination volumes during the second quarter of 2012 were up 25 percent from second quarter 2011 levels, and up 39 percent from the first quarter of 2012, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
$3M Renovation of Las Vegas Building Proves Lucky for Investor
iStar Residential recently invested $3 million in a redesign of The Martin in Las Vegas, and in the four months since the building’s relaunch, sales have risen by 300 percent.
Apartment Market Hot Streak Continues
For the sixth quarter in a row, the apartment industry improved across all indexes in the National Multi Housing Council’s (NMHC) Quarterly Survey of Apartment Market Conditions.
Freddie Mac Announces the Issuance of a New Seven-year Reference Notes Security
Freddie Mac announced today that it plans to issue a new seven-year USD Reference Notes security, CUSIP number 3137EADK2, due on August 1, 2019.
The Better Housing Coalition Receives $500,000 Loan from Mercy Loan Fund and Bon Secours Health System
Thanks to a $500,000 loan and an extended line of credit from Mercy Loan Fund and the Bon Secours Health System, the Better Housing Coalition in Richmond, Va., will be able to expand its development of high-quality, affordable workforce housing in the Blackwell neighborhood more rapidly.
Institutional Property Advisors Names Drew Kile Associate Director
Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has named Drew Kile as an associate director, according to Hessam Nadji, managing director of IPA.
Low Rate Environment Persists, Refinance Applications Reach Highest Level Since 2009 in Latest MBA Weekly Survey
Mortgage applications increased 0.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 20, 2012.
Freddie Mac Announces Tenth $1 Billion Multifamily Securities Offering This Year, K-019
Freddie Mac today announced a new offering of Structured Pass-Through Certificates (“K Certificates”), which are multifamily mortgage-backed securities.
RealPage Acquires Rent Mine Online
RealPage, Inc., a provider of on demand software and software-enabled services to the rental housing industry, recently announced that it has acquired RentMineOnline Inc., a software-as-a-service provider of social network marketing solutions for the multifamily rental housing industry (www.rentmineonline.com).