Dodge Analytics: Residential construction starts fell 9% in April

Multifamily dips 7% YoY, single-family rises 7%YoY
Residential construction starts faltered in April as did the rest of the construction sectors, according to a report by Dodge Data & Analytics. The report showed that residential construction starts, both single-family and multifamily, totaled 303.8 billion, a 9% decrease from March. Multifamily dropped by 20%, which signaled the second declining month in a row.
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Arbor Realty Trust closes sale of $25M in senior unsecured notes

Company makes its second play this week for additional cash
Arbor Realty Trust appears to be gearing up for a run of investments, announcing its second money-making move this week. Following the company's Wednesday announcement that its selling 5.5 million shares, Arbor Trust announced on Thursday it closed the sale of $25 million in unsecured senior notes.
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Cloudvirga raises $50 million in Series C funding round

Series C funding round led by private equity firm Riverwood Capital
Digital mortgage point-of-sale software provider Cloudvirga announced it raised $50 million in its Series C funding round, led by private equity firm Riverwood Capital. The company said the new round of funding will support its mission to “help lenders reduce record-high loan production costs via automation and empower borrowers with greater transparency and engagement in the mortgage transaction.”
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Arbor Realty Trust to offer up 5.5M shares

The investment trust could raise up to $51.3 million with new public offering
Arbor Realty Trust, a real estate company specializing in investment for multifamily, seniors housing and healthcare real estate, announced plans to make a public offering of 5.5 million shares. At its current stock price, that translates to roughly $51.3 million that the company could raise through this offering.
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5 tips for Millennials looking for a bank

Make transitioning into adulthood smoother
Many younger Millennials and older members of Generation Z who are establishing financial independence have many options to choose from when it comes to banking. Here are 5 tips that could make finding the right bank easier.
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Trump administration officially nominates Michael Bright to lead Ginnie Mae

Bright has been leading Ginnie Mae on an interim basis since July 2017
Ginnie Mae has been without a permanent leader since January 2017, but that could soon change, as the Trump administration announced Tuesday that it is formally nominating Michael Bright to serve as president of Ginnie Mae. If confirmed, Bright would take over officially for former Ginnie Mae President Ted Tozer, who stepped down at the beginning of the Trump administration.
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Wells Fargo: You’re scaring younger generations away

Here’s why young adults may steer clear
[Op-ed] Many Millennials are looking for a trustworthy bank, but will Wells Fargo’s scandalous headlines steer them away? As I approach independence, the bank I choose will set me up for failure or success. While many seem promising, I’m definitely hesitant about this one in particular.
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Buckingham Partners debuts first multifamily fund at $175 million

The Buckingham Companies affiliate will seek value-add investments in secondary markets
Buckingham Partners, an affiliate of Buckingham Companies, closed its first multifamily fund, Buckingham Multifamily Fund I. The fund totals $175 million and will target value-add investments in fast-growing secondary markets in the Midwest and Southeast U.S.
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CoreVest steps up its bridge lending game

Company will now offer bridge lending to multifamily properties up to 150 units
CoreVest announced Monday it expanded its bridge lending platform to include multifamily properties up to 150 units. Citing customer demand for bridge lending, which likely comes from a lack of investor interest in new multifamily construction, CoreVest said it will offer loans in the $250,000 to $25+ million range.
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