Mesa Development LLC and Walsh Investors have paid off the $275.5 million construction loan for The Legacy at Millennium Park, a luxury 72-story condominium high-rise, overlooking Millennium Park in downtown Chicago. The loan was repaid with proceeds from unit

A recent report out of Bloomberg says that BofA is struggling to keep up with the deluge of mortgage refinancing applications that have followed revisions to the Home Affordable Refinance Program (HARP), so much so that they are asking

The fourth quarter may be a time of plummeting temperatures in Chicago and greater Illinois, but the change of the seasons had little effort on the quarter’s home sales, which posted surging gains for both areas. According to the

The National Association of Home Builder’s (NAHB) 55+ Housing Market Index (HMI), a specialized index that follows the 55+ housing market, posted year-over-year gains for the fourth quarter in 2011. Along with gains in construction and a 29-city addition to the

Milwaukee-based home loan insurer Mortgage Guaranty Insurance Corp. (MGIC) may have posted a loss of $135.3 million for the fourth quarter in 2011, but that’s down from $186.7 million in 2010, a decline of nearly 30 cents a share

Fannie Mae has announced the expansion of their Online Offers system through HomePath properties. The system will collect and manage offers for all Fannie Mae owned properties, except auction properties. The Online Offers pilot was launched in 2010 in

By Judith Francois With over 25 years of experience and expertise in the mortgage industry, Mark Daly is the new senior vice president and national sales manager of Perl Mortgage. Perl has been locally owned and serving Chicago residents

Strategic defaults, a Chapter 11-esque move in which homeowners walk away from their property and stop paying their mortgage, are happening with increasing regularity in today’s housing market, and if current legislation is any indication, they are happening much

Fannie Mae yesterday released its National Housing Survey for January 2012, delivering data that confirms a slowly accumulating rise in consumer confidence and expectations. Doug Duncan, the vice president and chief economist at Fannie Mae, said recent employment numbers,

“The housing bottom” is a term that gets thrown around quite often, normally in the context that once a bottom is reached, an inevitable (and long-awaited) housing recovery will quickly commence. Over at Calculated Risk, the news is both

The fourth quarter of 2011 was a productive period for multifamily originations, which increased by 31 percent year-over-year according to the latest research by the Mortgage Bankers Association (MBA). Pooled with other loan offerings, including industrial property loans, retail

The Obama White House released its latest Housing Scorecard yesterday, and the report provides a sweeping view of many of the various components of the housing market, from sales, to refinancing to inventories. Developed and released by the Department

The National Association of Home Builders/First American Improving Markets Index added 29 more metropolitan areas to its ever-expanding Improving Markets Index (IMI), a specially-crafted survey of the nation’s best-performing urban areas. Now representing 36 states, the IMI has grown exponentially

The PMI Group, the embattled mortgage insurer, granted Fannie Mae mortgage servicers with short sale rights late last week, a measure that allows further access to the pre-foreclosure sales strategy. Typically, a mortgage insurance company must approve short sales

It’s no secret that underwriting standards at banks made an about-face following the market scares of 2008, and that some agents have experienced difficulties selling homes in the new lending environment. A new development, though, would undoubtedly be the loosening of

Chris Eigel and Michael Pierson, principals of Prudential Rubloff Properties, are pleased to announce the formation of Rubloff Insurance, a full-service insurance division to be led by industry veteran George H. Moloney III. Rubloff Insurance will be located at