There are reasons to believe lending issues in commercial real estate will be contained. The first is that the office sector is only one part of commercial real estate, albeit a large one, and the others are in unusually good shape.
Home market volatility will likely continue, as home insurance rates continue to rise, home values drop, and an alarming number of new mortgages are already underwater, according to the 2023 Insuring the American Homeowner report by Insurify.
Following an increase in virtual closings during the COVID-19 pandemic, and a peak in U.S. home sales and median home prices in 2021 and 2022 respectively, cybercriminals have increasingly sought to exploit real estate payments.
The Independent Community Bankers of America (ICBA) and 42 affiliated state banking associations called on the Consumer Financial Protection Bureau to approve a proposed template that would improve mortgage disclosures required under TRID rules.
Two U.S. Senators have reintroduced their Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act (HR 3962), a bipartisan bill that would permit the nationwide use of Remote Online Notarizations (RONs).
The MBA Builder Application Survey BAS data for March shows mortgage applications for new home purchases increased by 10 % over February and 0.6 % compared to a year ago.