MBA report indicates minor uptick in commercial and multifamily lending | 2018-05-17

Multifamily originations led the charge in an overall increase in commercial/multifamily lending volumes year-over-year in the first quarter of 2018. According to the Mortgage Bankers Association’s quarterly survey, Q1 commercial and multifamily loan originations increased 1% YoY. The market is also experiencing expected seasonal softness and underwent a 33% drop in originations from Q4 2017.…

Arbor Realty Trust to offer up 5.5M shares | 2018-05-16

Arbor Realty Trust, a real estate company specializing in investment for multifamily, seniors housing, and healthcare real estate, announced plans to make a public offering of 5.5 million shares. At its current stock price, that translates to roughly $51.3 million that the company could raise through this offering. According to its release, Arbor will use the…

Cloudvirga raises $50 million in Series C funding round | 2018-05-16

On Wednesday, Digital mortgage point-of-sale software provider Cloudvirga announced it raised $50 million in its latest funding round. The company’s Series C funding round was led by private equity firm Riverwood Capital, and saw participation from Upfront Ventures, the company said. Cloudvirga, which was recently named a 2018 HW Tech100 winner, said the new round of…

Senate narrowly passes measure to restore net neutrality | 2018-05-16

The Senate voted Wednesday to restore net neutrality ahead of its scheduled rollback. Back in December, the Federal Communications Commission repealed net neutrality regulations, which prevent internet service companies from charging users more to see certain content. Real estate experts such as Zillow and the National Association of Realtors instantly stood against the rollback, saying the changes…

MBA: Mortgage applications continue decrease | 2018-05-16

Mortgage applications continued last week’s decreasing trend, falling 2.7% from last week, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending May 11, 2018. On an unadjusted basis, the Index decreased 3% from the previous week. The Refinance Index dropped 4% from the previous week. The Purchase Index also decreased, falling…

Mick Mulvaney doubles down on minimalist practices at CFPB | 2018-05-16

Consumer Financial Protection Bureau Acting Director Mick Mulvaney doubled down on his mission to revamp the CFPB direction, telling a group of Realtors this week that he wants the bureau to "get back to basics." Mulvaney made the statement during the the Regulatory Issues Forum at the 2018 REALTORS Legislative Meetings & Trade Expo, which was hosted…

Trump administration officially nominates Michael Bright to lead Ginnie Mae | 2018-05-15

Ginnie Mae has been without a permanent leader since January 2017, but that could soon change, as the Trump administration announced Tuesday that it is formally nominating Michael Bright to serve as president of Ginnie Mae. If confirmed, Bright would take over officially for former Ginnie Mae President Ted Tozer, who stepped down at the…