CRE debt outstanding hits crisis-era high as new uncertainties set in
Add continued growth in commercial and multifamily mortgage debt outstanding to the list of things that the economic fallout from the coronavirus might affect.
Commercial mortgages
Coronavirus effect on commercial mortgage lates to be determined
Any impact from the coronavirus outbreak on commercial and multifamily loan delinquencies won't be known for some time, the Mortgage Bankers Association said.
Black Knight creates model to measure CMBS prepayment risk
Black Knight introduced a model to gauge prepayment speeds and credit risk for investors that purchase commercial mortgage-backed securities.
CMBS delinquency rate reaches its lowest point since early 2009
The delinquency rate for commercial mortgage-backed securities ended 2019 at its lowest point in nearly 11 years, aided by increased issuance and the resolution of legacy transactions, Fitch Ratings said.
Nearly $42M in CMBS at risk in GameStop store shutdown: Morningstar
GameStop's plan to shutter up to 200 stores could adversely affect commercial mortgage-backed securities loans with a combined allocated property balance of almost $42 million, according to Morningstar Credit Ratings.
Slowing economy in 4Q will not hurt CMBS sector: Morningstar
The commercial mortgage-backed securities sector will weather the fourth quarter's slowing but steady growth in the U.S. economy, as better loan performance counters a continued decline in volume, Morningstar said.
Multifamily lending jumps to record high, growth expected through 2020
Rising demand and plummeting mortgage rates pushed multifamily origination dollar volume above 2017's record to a new peak, according to the Mortgage Bankers Association.
As demand soars, multifamily mortgage originations should break record
Behind strong job markets, the shortage in housing supply and more millennials moving out, 2019 projects to be a record year for multifamily originations.
Opinion How CMBS lenders can stop worrying and learn to love C-PACE
The incentives are stronger than ever to work toward standardizing the documentation, language and process for loans in commercial mortgage-backed securities to be combined with PACE financing.
Carson Leonard
Alston & Bird
Life insurers’ upped mortgage investments risky in case of downturn
Life insurance companies increased their mortgage investments to levels higher than historical norms, creating more potential danger for their portfolios in the event of a real estate downturn, a Fitch Ratings report said.
CFPB extends comment period for HMDA proposal
The CFPB is giving trade groups and consumer advocates another three months to comment on its proposal to change what data is collected under the Home Mortgage Disclosure Act.
‘Devil is in the details’ for lenders transitioning from Libor: MBA
Commercial and multifamily mortgage lenders need to figure out their plan for replacing the London interbank offered rate index potentially expiring at the end of 2021.
ICON Realty taps CMBS for refi of 18 NYC apartment buildings
The sponsor acquired the buildings over the past 12 years; now it has obtained a mortgage on each from JPMorgan Chase for a total of $174 million.
Exantas Capital issuing another (slightly less) static CRE CLO
The $687 million XAN 2019-RSO7 has 36 months to fund additional lending against properties in the collateral pool, six months longer than a 2018 transaction.
Multifamily and CRE loan debt sees largest rise since housing bubble
Commercial and multifamily mortgage debt outstanding grew 6.8% in 2018, benefiting from strong employment numbers and strained inventory, according to the Mortgage Bankers Association.
SFIG Vegas: Look for more CRE CLOs to be actively managed
Expect even more actively managed CRE CLOs to be issued this year as investors get more comfortable with the idea of managers using proceeds from the repayment of collateral to acquire new bridge loan.
Freddie Mac executes first ever non-LIHTC deal
Freddie Mac issued its first non-low-income housing tax credit forward commitment, providing financing for an affordable housing development in Minnesota.
Resiliency, gut rehabs to drive growth in commercial PACE
The Property Assessed Clean Energy sector is getting a boost from the expansion of improvements eligible to be financed via tax assessments, including fire resiliency and total building renovations, according to DBRS.
Morgan Stanley, UBS launch pair of CMBS conduits totaling $1.4B
Both the $646M UBS 2018-C15 and the $796M MSC 2018-H4 deals have relatively low leverage, helped by the inclusion of loans with investment grade characteristics.
SITE taps CMBS to finance sale of stake in 10 shopping malls
A joint venture between the REIT and two Chinese investors obtained a $364 million five-year, fixed-rate loan on the portfolio from Column Financial.
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