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 requests picked up and its wealthy clients became jittery about having money locked into commercial real estate.” (Today’s podcast can be found here, sponsored by Richey May, a recognized leader in providing specialized advisory, audit, tax, technology and other services to the mortgage industry for almost four decades.) Lender and Broker Software, Products, and Services Save $100 on every application with Truv! Orion Lending slashed their annual expenses by $300,000 and boosted its conversion rate by 32 percent using Truv’s income and employment verification solution. “Truv transformed our verification process, expanding our reach and cutting costs,” asserts Richard Plummer, EVP of Operations at Orion Lending. Stop the financial bleed. Contact TRUV today to discuss how we can help you with your income, employment, insurance, and asset verifications.

Published On: November 3, 2023 / Categories: Mortgage News /