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Black Knight's Deep Dive on Housing, Mortgages, and COVID:

Mortgage News Daily - Blogs, Posted To:. Black Knight has taken what will probably prove to be only their first in-depth analysis of the potential effects of the COVID-19 pandemic on the economy and specifically on the U.S. housing and mortgage markets. The paper looks at the current state of the market, key drivers of the pandemic on the housing and mortgage industries and models some possible outcomes. We are extremely pleased that they have used mortgage rate information from MortgageNewsDaily for some of their calculations. Because it is their business, Black Knight, also makes a lot of recommendations as to how technology can mitigate some of the most dramatic impacts. The company notes that the situation at present is incredibly fluid and dynamic, "and underlying

Service Properties Trust's stock tumbles after S&P Global cuts REIT's credit to 'junk' status:

Thu, 2 Apr 2020

MarketWatch, Shares of Service Properties Trust tumbled 14% in afternoon trading Thursday, after the real estate investment trust (REIT) focused on hospitality and travel services had its credit rating cut to "junk" status at S&P Global Ratings. The issuer credit rating was lowered one notch to BB+, which is the highest speculative grade, or junk, rating, from BBB-, and was placed on CreditWatch with negative implications. The rating agency said it expects the REIT's performance to be hurt as the COVID-19 pandemic leads to possible rent deferrals, delayed asset sales and higher-than-anticipated leverage. "The downgrade reflects our expectation that SVC's operating performance, particularly in its hotel segment, will be negatively affected by the recent

Mall REIT Simon Property says executives will take pay cuts to combat coronavirus impact:

Thu, 2 Apr 2020

MarketWatch, In a regulatory filing, the Indianopolis-based mall real-estate investment trust said that Chief Executive David Smion will reduce his base salary to zero.

Shake Shack same-store sales tumbled in March, delivery partners expanded:

Thu, 2 Apr 2020

MarketWatch, Shake Shack Inc. said Thursday that same-Shack restaurant sales for March were down 29% from a year ago, with the impact of the coronavirus outbreak becoming more acute as the month progressed. For the first two months of the quarter, same-Shack-sales were down about 2%, with declines starting to accelerate in early March. The current FactSet consensus for first-quarter same-Shack-sales is down 6.6%. "With Shake Shack real estate heavily indexed towards high volume, urban and premier shopping locations, the impact to the company will continue to be significant during the period of stay-at-home orders across the country," the fast-casual burger chain said in a statement. Effective immediately, the company is expanding its delivery partners t. These housing markets are in danger of a coronavirus-related recession:

Wed, 1 Apr 2020

MarketWatch, The recovery had taken much longer because the citys real estate market had fallen much further than in other parts of the country.

FHA Jobs; Broker, Marketing, Training Products; Servicing Trends; Processing and UW Changes:

Wed, 1 Apr 2020

Mortgage News Daily - Blogs, Real estate sales and brokerage firms must suspend in-person operations under the Governors Executive Order.

Economic Report: Pending home sales rise 2.4% in February but the coronavirus outbreak will slow real-estate activity for months to come:

Mon, 30 Mar 2020

MarketWatch, The question now for the market is how much the COVID-19 pandemic will hurt the countrys economy and real-estate market.
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Redfin's stock falls after equity investment by Durable Capital at a discount:

Mon, 30 Mar 2020

MarketWatch, Shares of Redfin Corp. slumped 5% in morning trading Monday, after the real estate brokerage services company announced a $110 million equity investment by Durable Capital Partners L.P. at a discount. The investment includes selling $70 million worth of common stock at $15.61, or 3% below Friday's closing price of $16.09, and $40 million worth of convertible preferred stock that pays an annual dividend of 5.5%. The stock has lost 43.5% over the past month, while the S&P 500 declined 13.4%. "Durable's Henry Ellenbogen has been leading investments in Redfin since 2013, when we were a private company and the market was recovering from the great financial crisis," said Redfin Chief Executive Glenn Kelman. "In chaotic times, he understands our l.

Mortgate REIT liquidity concerns should remain the focus, analyst says:

Fri, 27 Mar 2020

MarketWatch, The mortgage real estate investment trust sector was mostly lower Friday, after Raymond James analyst Stephen Laws said it was still too early for investors to shift their focus away from liquidity concerns, toward future portfolio returns. The iShares Mortgage Real Estate Capped ETF slumped 3.3% in afternoon trade, to pullback from a sharp two-day bounce in which the ETF recorded back-to-back record one-day gains, of 15.2% on Wednesday and 20.8% on Thursday. The ETF had closed at a record low on Tuesday, after plunging 65.4% in a month. The recent bounce had come after a number of mortgage REITs gave position updates and government actions to help soothe liquidity concerns and a rally in the broader stock market . "We are encouraged by the.

Ford partners with GE, 3M to build ventilators, COVID-19 protective equipment:

Tue, 24 Mar 2020

MarketWatch, A car maker, industrial conglomerate and Post-it Notes maker said Tuesday they are working together to help ease the COVID-19 national emergency, as they look to boost production of equipment to protect people from and treat people with the novel coronavirus.

Engel & Vlkers Snell Real Estate Announces Representation of The Paraso Residences:

Tue, 24 Mar 2020

Luxury Real Estate Blog, Specialized team members from Engel & Vlkers Snell Real Estate are managing the onsite sales office located in the Cabo San Lucas Marina.
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The Wall Street Journal: Mortgage firm struggles to meet margin calls amid market volatility:

Tue, 24 Mar 2020

MarketWatch, Several investment funds focused on mortgage investments are examining assets sales, and at least one is struggling to meet margin calls from lenders, the latest signs of turmoil in crucial areas of the credit markets.
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Invesco Mortgage's stock suffers record plunge to record low after failing to meet margin calls:

Tue, 24 Mar 2020

MarketWatch, Shares of Invesco Mortage Capital Inc. are suffering a record selloff to a record low in active trading Tuesday, after the real estate investment trust, which focuses on financing and managing residential and commercial mortgage-backed securities and mortgage loans said it was unable to meet Monday's margin calls.

Invesco Mortgage Capital REIT unable to meet margin calls, in discussion with lenders on forebearance agreements:

Tue, 24 Mar 2020

MarketWatch, Invesco Mortgage Capital Inc. said Tuesday that it was unable to meet the margin calls it received on March 23, and did not expect to be able to meet the expected volume of future margin calls under its financing arrangements, as a result of COVID-19-related market disruptions.

Coronavirus update: 350,536 cases, 15,328 deaths, NYCs outbreak comes into focus:

Mon, 23 Mar 2020

MarketWatch, Washington Prime Group Inc. WPG, -12.50% , a mall real-estate investment trust, is temporarily closing all malls that are enclosed with an indoor common area to address the spread of the coronavirus.

Mall REIT Washington Prime Group to temporarily close indoor malls, offers others for medical supply distribution:

Mon, 23 Mar 2020

MarketWatch, Washington Prime Group Inc. WPG, -17.73% , a mall real estate investment trust, said Monday it is temporarily closing all malls that are enclosed with an indoor common area to address the spread of the coronavirus that causes COVID-19.

Taubman Centers to close all but 2 of its malls, at least through March 29:

Thu, 19 Mar 2020

MarketWatch, The real estate investment trust said the shopping center would remain closed through March 29, or later if required by state or local government.

Hollywoods A-Listers Are Flocking to the Quiet Streets of Downtown Brooklyn:

Wed, 18 Mar 2020

Robb Report, Some of Hollywood's biggest names call the serene pocket of Brooklyn home.
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Construction, Non-QM Products; Webinars; Info on VVOEs, e-Notes, e-recordings:

Tue, 17 Mar 2020

Mortgage News Daily - Blogs, Let CFSI Loan Management help you lead your market with real estate agents, borrowers and builders with a construction loan program.

Welltower properties had 2 residents test positive for COVID-19, while occupancy has remained stable:

Tue, 17 Mar 2020

MarketWatch, Welltower Inc. , a real estate investment trust with a portfolio of seniors housing operators and post-acute provides, said as of March 16, there were two residents in its U.S. properties that tested positive for COVID-19. The company said it has had "elevated protocols" since late-January to mitigate the spread of virus, which could mean slower new resident flow in the short term, but the company said it has also seen a "commensurate" decline in voluntary move outs. Over the last four weeks, occupancy at its 579 senior housing operating buildings (SHOP) remained at an average of 85.7%, with a range of 85.6% to 85.8%. "I strongly believe that Welltower is well positioned to help address this crisis as we provide the necessary support to our.

Bank stocks sink as zero rates, buyback suspensions act as a double whammy to earnings:

Mon, 16 Mar 2020

MarketWatch, The financial sector took a deep dive Monday, as the Federal Reserve cutting interest rates to zero and the suspension of stock buybacks act as a one-two punch for the groups earnings outlook.

REIT Macerich cuts dividend to 50 cents a share vs. 75 cents, to be paid 20% in cash and 80% in stock:

Mon, 16 Mar 2020

MarketWatch, Real estate investment trust Macerich Co. said Monday it is cutting its dividend to 50 cents a share from 75 cents previously, to be paid 20% in cash and 80% in stock. The Santa Monica, Calif.-based company said the dividend will be payable June 3 to shareholders of record as of April 22. "Given the uncertain and rapidly changing environment, the Board of Directors has determined that the cash component of the dividend (other than cash paid in lieu of fractional shares) will not exceed 20% in the aggregate, or $.10 per share, with the balance payable in shares of the Company's common stock. This will allow the Company to comply with the REIT taxable income distribution requirements, while retaining capital and enhancing the Company's financ.

New Yorks Real Estate Market Pulls in Opposite Directions Amid Coronavirus Outbreak:

Fri, 13 Mar 2020

Robb Report, New Yorks real estate market has proven to be notoriously difficult to predict, yoyoing about even without a global pandemic.

Broker, DPA, Tech Products; Coronavirus Tips: NAR's Report and Employer Webinar:

Fri, 13 Mar 2020

Mortgage News Daily - Blogs, Heres an economic tidbit for you. The Port of Los Angeles is reporting a. for February compared to 2019, with expectations for continued softness in March. And plenty are intrigued with the news that a Brazilian official who met with both Donald Trump and Mike Pence has. . Were looking at no Disneyland. No NCAA men or womens basketball tournaments. NBA and NHL seasons canceled or postponed (NBA team owner Mark Cuban is. of paying his hourly workers). New York City banning gatherings of more than 500 people, effectively closing Broadway shows and cancelling the 258-year-old St. Patricks Day Parade. Italy having more than 1,000 deaths. The U.S. Federal Reserves repo and QE actions taken yesterday ensure ample liquidity, but financial condit.

Coronavirus update: 121,250 cases, 4,369 deaths, cases in Spain top 2,000:

Wed, 11 Mar 2020

MarketWatch, The real-estate investment trust that invests in luxury hotels said group cancellations have increased to $15 million of revenue since Feb. 24, while transient cancellations have increased significantly.
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