Today’s News Synopsis:

Mortgage Bankers Association sends letter to Congress.  The NAHB reported an increase in builder confidence by four points, putting it now at 68.  A new study showed the ten zip codes where land is the most valuable.

In The News:

NAHB – “Builder Confidence Rises Four Points in October” (10-17-2017)

“Builder confidence in the market for newly-built single-family homes rose four points to a level of 68 in October on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This was the highest reading since May.”

The Real Deal – “Overseas lenders held $72B worth of US commercial loans in Q2” (10-17-2017)

“Foreign banks held $71.6 billion worth of commercial real estate loans backed by U.S. properties during the second quarter of the year, a sign many point to as proof there’s still confidence in the overall economy and market fundamentals.”

Bloomberg – “The Ten Zip Codes With the Most Valuable Land in the U.S.” (10-17-2017)

“Bounded by the Pacific Ocean and two of the Los Angeles area’s most exclusive country clubs, the 90402 zip code would meet most definitions of prime real estate. In fact, according to a new study, it’s the most exclusive address in the U.S.”

The Real Deal – “These were the largest Manhattan real estate loans recorded in September” (10-17-2017)

“The $1.6 billion in construction financing issued to Related Companies for 50 Hudson Yards was the biggest loan for September in Manhattan, according to data analysis from The Real Deal.”

Black Knight Financial – “Black Knight and Homebot Announce Strategic Alliance to Deliver Powerful, Cutting-Edge Mobile Engagement Solution for the Real Estate Industry” (10-17-2017)

“Black Knight, Inc. (NYSE: BKI), a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle, today announced a strategic alliance with Homebot, a fast-growing, privately held fintech company located in Denver, Colo. The two companies are offering Homebot’s cutting-edge client engagement tool to the real estate industry.”

HousingWire – “MBA to Congress: We’re ready and open to working on tax reform” (10-17-2017)

“As the debate around what tax reform looks like heightens, the Mortgage Bankers Association is jumping in on the conversation, saying that they support the opportunity for comprehensive tax reform.”

Realtor.com – “The Home Peril That’s Hiding in Plain Sight” (10-17-2017)

“Electrical outlets and wall plates don’t exactly command a lot of attention. In fact—and we’re going out on a limb here—we’re guessing you may not even remember the last time you took a second look at your wall plates.”