Economy

It's a toss-up between a recession or a soft landing, though some, including Fannie Mae's Doug Duncan, still believe a downturn is more likely than not.

After catching the eye of a senior executive at Deutsche, UMB Financial soon reeled in a team that expanded its trust services into the current comprehensive and tech-assisted operation.

The 30-year fixed, which was threatening going above 7% again according to Freddie Mac data, was 18 basis points lower this week.

However, both Zillow's and Optimal Blue put the 30-year fixed mortgage lower than where it was seven days prior.

A resilient U.S. economy, lingering inflation and comments from the Federal Reserve contributed to a 10-basis-point hike in the 30-year fixed rate, Freddie Mac said.

A vast majority of the pool, 86.35%, consists of primary homes. Investment properties and secondary homes, meanwhile, account for 11.29% and 2.36% of the collateral.

Some 23 tenants occupy the data center complex in Illinois, which accounted for 86.7% of total square footage and 86.8% of rentable power. The property has a net operating income of $62.7 million, and cap rate of 6.70%.

Over one-third of the struggling borrowers who received recast loan terms in the first quarter cut their monthly obligation by 20% or more.

The markets had a muted reaction to the Federal Open Market Committee pause on raising short-term rates a week ago, Freddie Mac found.

The three senior classes should repay investors with coupons of 6.73%, 7.13% and 7.64% on classes A1, A2 and A3, while are expected to issue floating-rate notes.

But the Mortgage Bankers Association also raised the dollar volume that it predicts the purchase market will originate this year.

Fee hikes at the government-sponsored enterprises are one remedy, the government-sponsored enterprise's regulator noted in its annual report to Congress.

Unibail-Rodamco-Westfield is offering to exchange any and all of its €1.25 billion ($1.37 billion) notes, which currently pay a coupon of 2.125%, with a new bond paying 7.25% and a cash amount.

Multifamily properties account for the vast majority of the initial pool balance, at 86.2%, DBRS said, which is a plus because multifamily properties typically have lower default rates than other CMBS property types.

Economic analysis from the real estate advisory CBRE finds that community banks are particularly imperiled by their exposure to commercial real estate loans. Others see looming risks in indirect lending.

A change in investor sentiment toward an expected pause by the Fed in short-term rate hikes was the driving force behind the current surge, Freddie Mac said.

But when compared past periods of upheaval, those rates remain relatively low, the Mortgage Bankers Association report showed.

The beleaguered bank said it is selling 74 loans totaling about $2.6 billion to a subsidiary of Kennedy-Wilson Holdings. The move is part of a plan to pursue strategic asset sales, trim expenses and shore up its balance sheet.

While the mortgages from this Community Development Financial Institution lack income verification, the borrowers' credit is actually near prime, according to DBRS Morningstar.

During her opening remarks before lawmakers Tuesday, the head of the Federal Housing Finance Agency reiterated that borrowers with strong credit profiles are not being penalized to benefit those with poorer scores.