Refinance

Bank of America is tapping the commercial mortgage-backed securities market to refinance the debt on its namesake Manhattan office building, providing BofA and building co-owner The Durst Company with a hefty cash-equity payout.

The Federal Housing Administration is aiming to limit the share of borrowers who have been withdrawing money from the value of their homes.

President Trump has signed the Protecting Affordable Mortgages for Veterans Act, which aims to address concerns that rules around certain VA refinances were impeding those loans' inclusion in secondary market pools.

While seasonal factors were attributed to the monthly rise in mortgage delinquencies for June, the jump was still much higher than last year's fairly steady increase, according to Black Knight.

Fannie Mae increased its mortgage origination forecast as lower interest rates, driven by economic uncertainty, will lead to more refinance activity, but other factors will continue to hold back home purchases.

In a downturn, some fintechs, such as independent lenders, will be more vulnerable to economic forces than those working to service banks' regulatory needs.

The refinance share of mortgage applications climbed to the highest level since January 2018 as the average 30-year fixed interest rate continued tumbling, according to the Mortgage Bankers Association.

Blackstone's real estate affiliate and property management firm SITE Centers Corp. acquired the 12 centers across seven states in 2014.

Prepayment speeds for loans included in agency mortgage-backed securities were up approximately 20% both monthly and annually during May as the decline in interest rates boosted activity, according to Keefe, Bruyette & Woods.

Prepayments tied to repeated VA loan refinancing activity have had an adverse effect on Ginnie’s mortgage securities that persists despite countermeasures. The government bond issuer is making new plans to address the impact.