Yes, WeWork has filed for bankruptcy, but if you look at GDP and employment, our economy is doing pretty well. Did you know that the Dallas metro area is home to the headquarters of companies responsible for originating 78 percent of residential volume? You probably didn’t, as I just made that up out of thin air. Texas’ growth and not having state income tax both help. Here in Dallas at the TMBA Education Symposium, there is plenty of discussion about the industry incorporating non-traditional products into their lineups, such as reverse mortgages, bond programs, buydowns, renovation loans, construction to perm financing, and jumbo loans, all have value to lenders. Meanwhile, loan originators are looking at a “full stack” loan origination & processing platform like Realfinity.io to go “independent” allowing them to get the most competitive pricing directly from wholesale lenders with no overlays due to corporate expenses. (No, this
The upcoming credit price changes were not discussed yesterday at the counter in Paul’s Pancake Parlor here in Missoula, but they might have been. As well as the resignation of NAR’s CEO… are there cracks in the powerful NAR empire? One thing that did come up was the commercial real estate market, reminding us that people need a place to live, not necessarily a place to work. Want to know how bad the commercial real estate market may become? Follow the money. “Blackstone Real Estate Income Trust’s investors sought to pull $2.2 billion last month, compared with $2.1 billion in September… BREIT returned about $1.3 billion to investors, or about 56 percent of what was requested, the ‘highest payout percentage’ since redemptions were restricted last year… The real estate trust is a colossus in U.S. property markets, with its reach spanning from apartments to data centers. In late 2022, BREIT curbed withdrawals after redemption