News Flash

7.3 Million Home Loans Originated in 2016
More than 1.7 million loans were originated on residential properties (one-to-four units) in the fourth quarter of 2016, according to new statistics released by ATTOM Data Solutions. This level represents a 15 percent decline from the... Read more
Well, it looks like the Millennials are finally making their presence known in housing
Millennials Accounted for 84 Percent of Closed Loans
Well, it looks like the Millennials are finally making their presence known in housing. According to new data from Ellie Mae, mortgages to Millennial borrowers for new home purchases accounted for 84 percent of closed loans during January... Read more
The delinquency rate for U.S. commercial real estate loans in commercial mortgage-backed securities (CMBS) reached 5.31 percent in February
CMBS Delinquency Rate on the Rise
The delinquency rate for U.S. commercial real estate loans in commercial mortgage-backed securities (CMBS) reached 5.31 percent in February, an increase of 13 basis points from the previous month, according to data from Trepp LLC. The rate... Read more
The U.S. Senate voted to confirm Dr. Ben Carson as the next Secretary of Housing and Urban Development (HUD)
The Doctor is In: Senate Confirms Carson for HUD
The U.S. Senate voted to confirm Dr. Ben Carson as the next Secretary of Housing and Urban Development (HUD).   The retired neurosurgeon’s nomination was approved in a 58-41 vote. All Republican senators voted in favor of Dr. Carson except... Read more
Ridgewood Savings Bank Celebrates 40 Years of Financial Literacy
"In the United States, the average household has more than $9,000 in credit card debt,” said Leonard Stekol, Ridgewood Savings Bank's president and COO.   Ridgewood Savings Bank diligently works to promote good financial habits in children... Read more
United Wholesale Mortgage (UWM) is the number one wholesale mortgage lender in the nation for 2015, according to numbers published by Inside Mortgage Finance
UWM Ranked Top Wholesale Lender for Second Consecutive Year
United Wholesale Mortgage (UWM) has been ranked the top wholesale mortgage lender in the nation for 2016, according to data reported by Inside Mortgage Finance. Claiming the top spot for the second year in a row, UWM produced an all-time... Read more
Dr. Ben Carson, the new Secretary of Housing & Urban Development (HUD) and the sole African-American in President Trump’s cabinet
Dr. Carson Moves One Step Closer to Becoming HUD Secretary
The U.S. Senate voted today 62-37 to advance the nomination of Dr. Ben Carson for the position of Secretary of Housing and Urban Development to a full-senate vote, which is expected to take place tomorrow morning.   The vote was mostly... Read more
Where Do You Find the Homebuying Millennials?
For those wondering where the Millennials are living, a new report from Zillow estimated that almost half of this demographic are living in the suburbs—and the majority stay in the same location when they buy a home.   According to Zillow... Read more
Lodging Sector on Track for a Stellar 2017
The lodging sector within the commercial real estate industry enjoyed a performance peak in 2016 and is on track for another halcyon year, according to the recently released March 2017 Hotel Horizons forecast report from CBRE Hotels’... Read more
NAMB—The Association of Mortgage Professionals has announced that CEO Donald J. Frommeyer, CRMS, has decided to leave his position as chief executive officer of the association
Don Frommeyer Resigns as NAMB CEO
NAMB—The Association of Mortgage Professionals has announced that CEO Donald J. Frommeyer, CRMS, has decided to leave his position as chief executive officer of the association, effective March 1, 2017.   Late last week, Frommeyer advised... Read more