JLL's $2 billion acquisition of HFF to close on July 1

The $2 billion deal that combines two of the biggest names in multifamily and commercial real estate is nearly complete, as Jones Lang LaSalle and HFF announced Friday that JLL’s acquisition of HFF is set to close on July 1.
Source: HousingWire Magazine

FHA's reverse mortgage changes have slashed the default rate

It’s been four years since the Federal Housing Administration instituted a policy requiring all prospective reverse mortgage borrowers undergo a financial assessment to determine their suitability for the loan, and so far, it appears to be working. According to the latest analysis from New View Advisors, Financial Assessment has slashed tax and insurance default by more than three-quarters and serious defaults by more than two-thirds.
Source: HousingWire Magazine

Harvard: There's a housing shortage, and it's eroding affordability

There’s a shortage of homes on the market, and it’s driving up house prices and rents, especially for average earners living in high-cost markets. This is the big takeaway from Harvard’s massive study from the Joint Center for Housing Studies released recently on the state of the nation’s housing market. The gist is that the housing market is constrained by production that has been below historical levels for more than a decade.
Source: HousingWire Magazine

First American: Nominal house price appreciation responsible for April's housing affordability

In April 2019, home prices fell 0.9%, declining 0.72% year over year, according to First American’s Real House Price Index. This means unadjusted house prices now sit 2.8% above the housing boom peak. First American Chief Economist Mark Fleming said only nominal house price appreciation dampened April’s affordability.
Source: HousingWire Magazine

M&A 2019: Tech moves to center stage

Aside from BB&T-SunTrust, dealmaking got off to a sluggish start this year. But that may soon change, not just because of pressure to achieve scale. For many banks and credit unions, a technology-capability gap could be the determining factor.
Source: American Banker

Nationwide's Berson: 2019 will be "solid year" for housing market

Despite choppy data on the housing market over the last few months, Nationwide Chief Economist David Berson says 2019 will outperform 2018. ”We believe that the housing market is poised for another solid year as slower house price growth and lower mortgage rates help affordability,” said Berson, who was Fannie Mae’s chief economist for 20 years.
Source: HousingWire Magazine

Can student lending lift BankMobile into the black?

The digital bank has grand ambitions for its new student loan refinancing platform as it looks to finally turn a profit for its parent company, Customers Bancorp.
Source: American Banker

Planet Home Lending appoints new chief operating officer

Planet Home Lending, a national mortgage lender and servicer, recently appointed Suzy Lindblom as the company’s new chief operating officer. Lindborn, who previously served the company as its executive vice president of national operations, will be taking over for former COO Michael Kula as he heads to retirement.
Source: HousingWire Magazine

Supreme Court ruling protects owners from government seizures of real estate

Property owners shouldn’t have to jump through state-level hoops before heading to federal court to stop the government from taking their property, the Supreme Court ruled this week in a 5-4 decision that overturned a decades-old precedent. “We now conclude that the state-litigation requirement imposes an unjustifiable burden,” Chief Justice John Roberts wrote.
Source: HousingWire Magazine

Mechanics Bank agrees to $9.5B CRA investment as part of Rabobank deal

Consumer groups applauded the California bank’s announcement.
Source: American Banker