Commercial delinquencies jump at banks
Stress tests suggest systemically important depositories could weather current risks. Meanwhile, single-family arrears remain low, but that business could be impacted.
Multifamily
Problem mortgages growing for life insurers, AM Best says
Since 2019, distressed loans have increased 77%, but it is just a small portion of the $691 billion currently outstanding.
Outstanding commercial and multifamily debt is on the rise
Fewer of these mortgages are paying off, adding to the amount of credit on investors' books, the Mortgage Bankers Association said.
Multifamily starts fall to under half of the previous two-year average
Decreased availability of bank capital for new commercial construction helped slow activity from the previous nine quarters, according to a new report.
Multifamily drives quarterly rise in commercial lending
But overall volume is still expected to be 38% lower than 2022's commercial real estate originations, as higher interest rates remain a drag.
Commercial mortgage delinquencies rise in 1Q
But when compared past periods of upheaval, those rates remain relatively low, the Mortgage Bankers Association report showed.
Commercial, multifamily mortgage delinquencies rise in 1Q
Economic turbulence affected borrowers during the quarter and will likely impact their ability to refinance maturing loans, the Mortgage Bankers Association said.
Mill City Mortgage Loan Trust seeks to raise $325.4 million
The underlying loans are subject to certain ATR rules per the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Shellpoint Mortgage Servicing, will fund advances of delinquent principal and interest until loans become 90 days.
Multifamily forecast for 2023 cut by $9B on uncertainty
Weaker economic conditions, rising interest rates and expected changes in investment returns drove the reduced expectations, the Mortgage Bankers Association said.
Multifamily mortgage volume likely to drop 11% in 2023
The sector is not immune to the same economic instability that affects the single-family residential market, the Mortgage Bankers Association said.
Multifamily mortgage originations could drop by 10% in 2022
Volumes set a record in 2021 and they've held up better than expected this year, but declines are forecasted for the sector some banks are using to partially offset single-family's slump.
Freddie Mac’s K-deal program collateralizes $1.2 billion CMBS issuance
Some 75% of the loans, or a count of 38, are partial term interest-only (IO) loans, and just six, or 22.9% of the pool are full-term IO loans. Just one loan, has an amortizing balloon.
Experienced investment groups bring $1.2 billion CMBS to market
The sponsors got the portfolio through multiple acquisitions from May through October.
ACREC, a new CRE CLO issuer, plans to issue about $875 million in CMBS
The transaction is also the first securitization for ACREC. The entity is also taking on multiple roles, acting as sponsor, issuer and collateral manager.
Freddie Mac launches another K-Deal CMBS deal, floating $780.3 million
Ten classes of multifamily mortgage pass-through certificates will be issued from the trust, which is secured by 29 loans on 29 properties.
Hotel, retail mortgage delinquencies down in July, but concerns remain
Late payments on office loans have trended upward recently, but longer lease periods may mitigate the potential for distress in that sector, the Mortgage Bankers Association said.
Commercial and multifamily lending outlook turns positive in 2Q
Growing CRE mortgage volumes raised the bar for the coming year despite lingering concerns, according to the CRE Finance Council.
Why a multifamily foreclosure tsunami is unlikely
Experts expect only a small uptick in distressed mortgages, either through default or inability to refinance, which will create some opportunity for debt buyers
CRE development funding is free-flowing — but how long will it last?
Raising the capital gains tax and code changes could have more of an impact on the public debt market than rising interest rates, according to a panelist at the Urban Land Institute's Spring event.
Commercial mortgage performance improves again, but worries remain
Short-term late payment rates rose again and later stage delinquencies remain at elevated levels compared to those prior to the pandemic, the Mortgage Bankers Association said.
Load More
Couldn’t load more articles. Try again.