Morning Roundup (7/15/2024) — Multi-Family Miami

Good Morning! Today is Monday, July 15. A lone gunman attempted to assassinate Donald Trump over the weekend. The Republican National Convention begins today. Joe Biden’s interview with NBC Nightly News anchor Lester Holt will be aired tonight.

The Mortgage Note Reports

Multifamily Market: Miami continues to maintain its position as the nation’s most competitive market for apartment renters, highlighting opportunities for investors in multifamily and commercial real estate. Writer Erin Flynn Jay has the story.

Tenant Protections: Multifamily properties financed by Fannie Mae and Freddie Mac must adhere to new tenant protections announced by the FHFA.

GPARENCY Promotion: Responding to a period of major growth, GPARENCY promoted broker Ami Eller to senior managing director.

In other mortgage and housing news…

Fee Break: Rocket Pro TPO will waive the $795 origination fee charged to broker partners on home equity loans from July 15 through August 18.

On The Lookout: A housing analyst who predicted the 2008 home price crash is watching the current market closely but doesn’t expect a catastrophic breakdown.

Apartment Boom: The U.S. is seeing an unexpected surge in apartment construction, a trend that could reshape the rental landscape for decades.

Guilty As Charged: Boruch Drillman’s co-conspirator Mark Silber pleaded guilty for his role in a complex mortgage fraud scheme involving a Cincinnati apartment building.

HDMA Data: 2023’s HDMA data is out, showing IMBs gaining steam last year as big banks shied away from mortgage lending.

Company News: John Brumund returned to Sun West Mortgage Company as Chief Production Officer; Dominion Financial Services named Dustin Wells President of its newly established Wholesale Division.

Going After The Little Guy: A person who allegedly hid debt obligations to get a $248,000 mortgage is being sued by industry giant United Wholesale Mortgage.