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.
Multifamily
S&P: CMBS delinquency rates declined in February
The falling rates continue a three-year trend of improving performance across numerous commercial mortgage sectors including multifamily, office and retail.
By
Glen Fest
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.
Bronx apartments portfolio takes lead role in new $1.2B Morgan Stanley CMBS
Most of the pool is made up of office-property loans, but also includes a sizeable exposure to hotel and retail properties.
By
Glen Fest
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.
Fannie Mae rededicates itself to hedge accounting, multifamily CAS
Fannie Mae identified the adoption of hedge accounting and regular issuance of multifamily Connecticut Avenue Securities deals as among strategies it could continue to pursue while navigating regulatory uncertainties and change. “While we cannot be certain that the company will exit FHFA conservatorship, the actions we are undertaking position us to be stronger regardless of […]
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.
$449M bridge-loan pool marks first CMBS of the new year
Bridge REIT LLC is sponsoring a securitization backed mostly by transitional and rehab multifamily properties via Wells Fargo.
By
Glen Fest
Wells Fargo marketing 7th conduit CMBS in $669.8M deal
The latest deal, WFCM 2019-C54, involves 44 loans secured by 88 properties, with a heavy exposure to office (32%), multifamily (21.1%) and retail (17.9%) properties.
By
Glen Fest
Fannie further narrows a gap with Freddie in multifamily CRT
The Federal Housing Financial Agency's latest report on credit risk transfers shows Fannie Mae continues to slowly improve a multifamily mortgage risk-sharing metric that lags Freddie Mac's by a wide margin.
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.
FHFA boosts multifamily lending caps for Fannie and Freddie
The Federal Housing Finance Agency is revising the multifamily loan purchase caps for the mortgage giants Fannie Mae and Freddie Mac to increase affordable housing.
Delinquencies rise in more recent CMBS, belying a broader drop
While delinquent loans in commercial mortgage-backed securities continued trending downward overall, there was an uptick in the rate for more recent originations, a Standard & Poor's report noted.
Greystone issuing third CRE CLO of multfamily bridge loans
All of the loans were originated by Greystone, an investment group based in New York that originated multifamily and health care facility loans for Fannie Mae, Freddie Mac, the FHA and various commercial mortgage-backed securities.
By
Glen Fest
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.
The Bancorp’s risky CRE pivot
The Delaware company, best known for issuing prepaid cards, has ramped up commercial real estate securitizations. The shift promises to deliver big fees, but it could also cause headaches if defaults spike.
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.
Ginnie Mae’s mortgage securities rise to a high last seen in 2016
The more than $44 billion in new Ginnie Mae mortgage-backed securities that came to market in June marked the strongest month for the government bond insurer in more than two years.
Freddie prices first-time green-bond sale backed by multifamily properties
The unrated notes being issued by the FREMF 2019-KG01 Mortgage Trust are backed entirely by workforce housing loans for green-friendly upgrades of older apartment buildings that fulfill affordable housing needs in communities.
By
Glen Fest
‘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.
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