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☆ These 28 regional and community banks exceed regulators' threshold for high commercial real estate concentration risk: here's what's really at stake.
▼ + stars: | 2024-03-09 | by ( Laila Maidan | ) www.businessinsider.com time to read: +12 min

But where banks' exposure to commercial real estate is concerned, locating that fire may be difficult. Rising interest rates quickly increased the cost of borrowing for investors in commercial real estate, including offices and multifamily homes. It doesn't reveal details such as borrowers' track records, said Mark Hillis, a former chief risk officer for commercial real estate at JPMorgan. There's also varying concentration risk: the largest banks with commercial real estate exposure are more diversified, meaning that any losses won't be as devastating, Baker said. "We think very few banks will run into issues just from their commercial real estate exposure," Reidy said.

Persons: Michael Barr, Jerome Powell, Todd Baker, Mark Hillis, Clifford Rossi, Robert H, Rossi, Baker, There's, Hillis, multifamily, haven't, You'll, Banks, you'll, Rebel Cole, NYCB, Matt Reidy, Reidy, Cole Organizations: Federal Reserve, Business, York Community Bank, SEC, Richman Center for Business, Law, Columbia University, JPMorgan, Smith, Smith School of Business, University of Maryland, Mortgage Banker's Association, Bank, Signature Bank, First, Countrywide Bank, Washington Mutual, Citigroup, multifamily, Florida Atlantic University, Federal, Regulators, TCRE, Equity RCRE, Community Bank, Provident Bank NJ, Merchants Bank of Indiana, Apple Bank for Savings, Oceanfirst Bank, Independent Bank, Lakeland Bank NJ, Ozk, Washington Federal Bank WA, Axos Bank, Sandy Spring Bank, Columbia Bank NJ, Farmers, Merchants Bank of CA, Popular Bank, Pacific Premier Bank, United Bank, Trust, Rockland Trust, Umpqua Bank, ServisFirst Bank, Bell Bank, Stellar Bank, National Bank of, National Bank of Florida FL, New York Community Bank Locations: multifamily, Basel, CRE, California, Rockland, National Bank of Florida

☆ Weekly mortgage demand drops again, as interest rates match a 22-year high
▼ + stars: | 2023-08-16 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Mortgage rates rose for the third straight week last week, matching a 22-year high. As a result, mortgage demand dropped as well. Total mortgage application volume was 29% lower than the same week one year ago, according to the Mortgage Banker's Association's seasonally adjusted index. That was the third straight weekly increase and the highest level since October 2022, which also matches a high level seen in 2001. As a result, mortgage demand from homebuyers was essentially flat week to week and 26% lower than the same week one year ago.

Persons: Joel Kan Organizations: Federal Housing Administration, Mortgage News

☆ Homeowners now have less equity than a year ago, the first annual decline in a decade
▼ + stars: | 2023-06-22 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

The average US homeowner with a mortgage has less home equity now than 12 months ago. Equity per borrower slipped 1.9% from the same time last year, CoreLogic data shows. It's the first annual decline in homeowner equity since 2012. In total, homeowners with a mortgage cumulatively lost $108.4 billion in home equity since the first quarter of 2022, about a 0.7% drop. On Thursday, the National Association of Realtors said prices for existing homes fell in 3.1% May, the largest annual decline in since late 2011.

Persons: —, Edward Seiler Organizations: Service, Associated Press, National Association of Realtors

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