INDUSTRY NEWS
Here you will find the most current and relevant industry news for Private Lending Professionals and Service Providers.
New Beneficial Ownership Reporting Requirements Under the BOI Rule
Under the new beneficial ownership reporting requirement (the “BOI Rule”) that took effect on January 1, 2024, United States legal entities, and foreign legal entities that do business in the United States, that fall within the definition of reporting company must provide information about their entities and their entities’ beneficial owners to the US Financial Crimes Enforcement Network (“FinCEN”).
NPLA Advocates for Private Lender Amendments to NJ Community Wealth Preservation Program
In collaboration with the Mortgage Bankers Association (MBA) and Auction.com, the National Private Lenders Association (NPLA) effectively advocated for the interests of private lenders in New Jersey concerning the recently enacted legislation known as the Community Wealth Preservation Program.
Investor Demand for Private Lending and 2024 Market Trends
The initial NPLA meeting of the year delivered valuable insights into the current landscape of real estate transition loans, investor interest, and market dynamics. The conversation between Jon Hornik and Ryan Shanberg from Nomura shed light on various aspects of the industry and provided insights into what 2024 may bring.
Navigating Challenges in the Multifamily Housing Market
During the most recent NPLA meeting, Jesse McConnico, Housing Analyst from John Burns Research and Consulting, gave a presentation on navigating challenges in the multifamily housing market. The session provided valuable insights into the current state of the industry and its prospects.
The Effects of California’s Recently Passed Senate Bill 567 for Investors and Property Owners
Investors and property owners planning to remove occupants to remodel or move into the property need to understand California’s recently passed Senate Bill No. 567 before jumping into the fire.
Trends in Demographics: Navigating Shifts
Chris Porter, Senior VP and Chief Demographer at John Burns Research and Consulting, presented a comprehensive analysis of current demographic trends at the recent NPLA meeting. The analysis included the need to redefine generational classifications, significant housing affordability, and market preference trends, as well as the impact of four major influencers on demographic shifts.
Housing Market and Economy Update Q4 2023 – NPLA Meeting Recap
At the most recent NPLA meeting, Rick Sharga, CEO of CJ Patrick Company, delivered a comprehensive Q4 2023 Market Update. His presentation covered valuable insights into the US economy, the housing market, delinquency and foreclosure trends, investor activity, and offered a glimpse into 2024.
The Current Real Estate Landscape – NPLA Meeting Recap
John Burns Research and Consulting (JBREC) joined the October 5th National Private Lenders Association (NPLA) meeting to discuss the current state of the housing market. The housing market’s current state poses a significant challenge for resale housing. Data from the top 28 markets reveals a 40% undersupply of listings. Currently, only 1% of the total 86.1 million owner-occupied homes are available for sale, notably lower than the historical average of 3%.
California’s AB 1033 May be a Game Changer for the Development of Accessory Dwelling Units
You may have read or heard about Accessory Dwelling Units or ADUs recently as building restrictions have been relaxed over the last several years allowing property owners to take advantage of additional lot space, or space within the primary residence, to add value to their property. When the California legislature recently passed Assembly Bill 1033, it opened up new opportunities to homeowners, developers, and investors by allowing for the ADU to be partitioned and sold separately from the primary dwelling unit on the property.
Understanding the Importance of Insurance for Private Lenders
Insurance for Private Lenders goes beyond a generic safety net; it’s about pinpointing the specific risks associated with each deal and tailoring policies accordingly. Several products that lenders should be aware of were highlighted on the recent NPLA meeting.
A Deep Dive into Default Rates and Buy and Hold Lending
In the ever-shifting realm of commercial lending, profound transformations are shaping the industry landscape. Conventional banks, which once stood as steadfast pillars of financial support, have recalibrated their lending standards, introducing stringent prerequisites for borrowers. Against this backdrop of change, a unique opportunity has arisen for private lenders to step into the forefront, fundamentally reshaping the dynamics of the lending sphere.
Navigating the Private Lending Terrain – NPLA Meeting Recap
The August 10th National Private Lenders Association (NPLA) meeting brought together prominent voices in the private lending industry to discuss and address pertinent issues and opportunities shaping the landscape of private lending.
Midyear Recap – 2023 Housing Market & Economy
In the latest National Private Lenders Association (NPLA) meeting, members gained access to market insights and expert analysis during a guest presentation by Rick Sharga, Founder & CEO of the market intelligence and business advisory firm, CJ Patrick Company.
Bridging the Gap — Private Lenders Fill the Void as Banks Restrict Financing
In today’s rapidly evolving private lending industry, a significant shift is occurring as traditional banks tighten their lending requirements. This shift presents a unique opportunity for private lenders to expand their presence and gain market share by filling the gap left by the restrictive policies of banks.
Home Mortgage Disclosure Act (HMDA) Compliance
Financial institutions that have been exempt from HMDA for the past year and a half will have to dust off their HMDA compliance programs and start tracking and reporting non-excluded residential loans to the CFPB annually.
Charging Interest Rates Over the Moon!
The Ninth Circuit Bankruptcy Appellate Panel (“the BAP”) recently affirmed the holding of the bankruptcy court in the case of In re Moon that a private money lender’s settlement agreement with its defaulting borrowers violated California’s usury laws by including a provision for interest at a higher rate than that allowed by California law.
New Jersey Assembly Bill 793 – Conditional Veto by Governor Murphy
Despite wide support from community groups and legislators, Governor Murphy and his team reviewed the information submitted on behalf of the NPLA and decided to conditionally veto the bill on Thursday, September 15th.
Ending the Use of the Term “Hard Money”
Authored by John Beacham, CEO of Toorak Capital Partners.
The resolution encourages all those associated with Private Lending to cease using the term “Hard Money” and use alternative terms, such as Private Lending, Bridge Lending, and Transactional Funding.
The Collapse of Zillow Offers is Not Indicative of Significant Housing Market Trends
Authored by Ruben Izgelov, Co-Founder and Managing Partner of Nationwide Private Lender, We Lend.
For institutional investors, the strategy of acquiring rental properties has proved profitable, and we’re witnessing extensive interest and growth across the nation.
What New York Senate Bill S5257C Could Mean for NYC Real Estate
Authored by Ruben Izgelov, Co-Founder and Managing Partner of Nationwide Private Lender, We Lend.
Local real estate developers looking to convert vacant CRE units are going through a period of uncertainty. It is crucial to understand the difference between the two proposals and the impact this legislation will have on the market.
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