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Banks report tightened lending standards for nearly all residential mortgages: Fed survey

Housing Wire

Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment. banks said they saw weaker demand for all types of residential real estate loans except for government (46.2%) and subprime mortgage loans (41.6%).

Lending 467
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CoStar poised to acquire UK-based residential portal OnTheMarket

Housing Wire

CoStar Group , the parent company of real estate data giant CoStar , has made an offer to acquire OnThe Market , the third most visited residential property portal in the United Kingdom. The announcement bolsters the claim that CoStar is “playing for keeps in the residential real estate market.” residential rental platform.

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White House, federal agencies urge more commercial-to-residential property conversions

Housing Wire

Department of Housing and Urban Development (HUD) announced today the launch of a new inter-agency initiative to encourage more property conversions of commercial buildings into residential units. HUD also released a new edition of its “ Evidence Matters ” publication dedicated to commercial-to-residential conversions.

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Residential construction jobs slowly return

Housing Wire

Of the 10,000 construction of buildings jobs created in November, 4,100 were in the residential sector. In the specialty trade contractor jobs sector, 6,200 were in residential construction. for residential construction building, a faster pace than previous months,” Kushi said. Residential building is up approximately 5.8%

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New Residential makes another round of layoffs

Housing Wire

Lender and servicer New Residential Investment Corp. New Residential, the parent company of NewRez and Caliber Home Loans , declined to comment about the layoffs. “It Documents filed with the Securities and Exchange Commission (SEC) show that New Residential had 12,293 employees in December 2021, and 11,324 in March 2022. .

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Local Logic partners with Plunk for residential real estate data insights

Housing Wire

Local Logic partners with some of the top tech vendors in the residential real estate industry, such as Black Knight , Constellation1 , CoreLogic , Inside Real Estate , and MoxiCloud. “Plunk and Local Logic strive to fully power the residential market with the information it needs to grow exponentially.

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Residential construction jobs now 7.6% above pre-COVID level

Housing Wire

Construction gained 36,000 jobs in May, with residential building adding 5,000 jobs and residential specialty trade contractors gain 11,700 jobs. Employment in the construction sector is 40,000 higher than its level in February 2020, while employment in residential building is 7.6% The post Residential construction jobs now 7.6%