MONTERREY, Mexico, Aug. 12 /PRNewswire-FirstCall/ — ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today it has signed a third-quarter lease agreement for 189,000 square feet in Mexico to a leading global manufacturer.
The manufacturer will occupy the space at ProLogis Park Apodaca Building One, located in Monterrey, Mexico. This transaction brings ProLogis’ Monterrey portfolio to be approximately 92 percent leased.
“We are pleased to sign another significant lease at ProLogis Park Apodaca,” said Silvano Solis, ProLogis managing director and head of Mexico operations.
Read full post…
Mexico
Earlier this month, I blogged about an interesting phenomenon whereby borrowers are pumping money into their mortgages as part of a refinancing, whether by necessity or by personal choice. Today, I want to report on another against-the-current trend: trading-up.
Trading-up is a term used to designate the selling of one’s home in favor of buying a more expensive, and presumably more appealing one. During the housing bubble, trading-up was seen as symptomatic of lax lending practices and the consumer trend to own the most expensive home possible. I
Read full post…
The mortgage industry shed 2,500 jobs in June, as home sales continued to slow. The mortgage banker/broker sector had 246,500 full-time positions in June, according to the Bureau of Labor Statistics.
Even though mortgage rates are at record lows, many potential home buyers are waiting on the sidelines, either unwilling or unable to get mortgage loans, which decreases the need for workers in the mortgage industry.
Much of the activity in the mortgage sector involves refinancing, as homeowners look to get out of high-interest or adjustable-rate mortgages.
Read full post…
Jobs, Mortgage Industry
According to the FBI’s just-released “2009 Mortgage Fraud Report Year in Review,” mortgage fraud rose in 2009 and is on pace to rise again in 2010, which would mark the sixth consecutive year that an increase was recorded. While these statistics are due as much to enhanced enforcement as to an actual increase in the occurrence of fraud, the revelation is nonetheless troubling.
Opportunism appears to be on the rise because the conditions for fraud or more ripe than ever. The FBI has identified a litany of factors, including “a decrease in loan originations, increased unemployment, increased housing inventory, lower housing prices , and an increase in defaults and foreclosures,” which have generally made borrowers/homeowners more desperate, and hence more vulnerable to being defrauded. Unfortuna
Read full post…
Fraud, Mortgage Fraud