Basel III proposals could fuel further nonbank dominance instead of banks’ mortgage comeback

Amid a deepening housing affordability crisis, roughly 1 in 10 homes in the country is sitting vacant, concludes a new report. Around 14.5 million houses are empty, according to a new analysis of U.S. Census Bureau data compiled by personal finance site LendingTree. However, only a shockingly low number of these homes—fewer than 800,000—are actually up…

L&G Asset Management has made acquisitions in the United States before, but never developed its own ground-up project…until now. The United Kingdom-based company bought a site at 292 Baker Avenue in Concord, a suburb of Boston, the Boston Business Journal reported. It closed on the site last week for $4.75 million, according to property records….

Key insight: Executives at both banks see major opportunities ahead, but expect to bear higher expenses in order to harness them. Supporting data: PNC raised its guidance for noninterest expense from up roughly 7% to up approximately 8.5%. Expert quote: “Some expenses, if you account for them as investments, they have very good returns, but…

🏆 New Building: The largest new building application filed last week was in Queens. EMP Capital Group plans to construct two buildings at 35-13 Steinway Street and 35-08 41st Street in Long Island City that would span a combined 183,876 square feet. The Steinway Street building would stand 19 stories tall and house 99 apartments;…

The Crowdfunding Professionals Association (CfPA) has issued a statement on the NetCapital (NASDAQ:NCPL) fraud allegations. As was recently reported, the Securities and Exchange Commission filed fraud charges alleging that NetCapital improperly recorded $14 million in revenue from consulting by John Fanning, a member of the Advisory Board. The filing claims that NetCapital’s revenue was mostly derived…

However, optimism is tempered by a demand for urgency. Sixty-six percent have already adjusted prices to account for some or all tariff costs, and 67% say regulatory requirements have created institutional gridlock, delaying projects and deterring investment. Regulatory gridlock straining housing supply For mortgage brokers, those figures carry direct consequences. Regulatory red tape has been driving…