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Tag Archives: CMBS

Commercial/Multifamily Debt Rises Among All Investor Groups

For the fourth consecutive quarter, commercial/multifamily mortgage debt outstanding increased in the third quarter, according to the a report from the Mortgage Bankers Association (MBA). The increase was 0.3 percent over the third quarter of this year. In dollar volume, commercial/multifamily mortgage debt rose $6.6 billion over the quarter, bringing the national total to $2.38 trillion.

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CMBS Delinquency Rate Down to Two-Year Low: Fitch

A surge in new issuances brought down the CMBS delinquency rate in November to a two-year low, according to a report from Fitch Ratings. The November CMBS delinquency rate stood at 8.17 percent, representing a decrease of 12 basis points (bps) from 8.29 percent in October. The decrease marks the sixth consecutive month the rate has fallen and is the lowest level since November 2010, when the rate was 7.96 percent.

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MBA: Commercial, Multifamily Delinquencies Declining

Delinquencies among commercial and multifamily mortgages are down, according to the latest report from the Mortgage Bankers Association (MBA). Measured separately, the delinquency rates for commercial and multifamily mortgages held by Fannie Mae, Freddie Mac, and life companies are all ""extremely low,"" according to Jamie Woodwell, VP for commercial real estate research at MBA.

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MBA Makes Recommendations of GSEs’ Future in Multifamily Market

With much focus in the industry on the single-family mortgage market and the challenges it currently faces, the Mortgage Bankers Association created a task force to address policy concerns in the multifamily market. With more than one in seven households residing in multifamily rental housing, the MBA task force says ""ensuring a vibrant and stable multifamily finance system is equally important to the public dialogue."" The MBA task force outlined a five-point plan for the GSEs.

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DebtX: Prices Increase for Non-Performing, Impaired Performing Loans

Prices for non-performing and impaired performing commercial real estate (CRE) loans climbed higher in October, according to DebtX, a marketplace exchange for whole loans. The company attributed the increase to the continuing recovery in the CRE capital markets and steady demand from a broad range of investors.

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Report: Population of Multifamily Renters Expected to Grow

In a slow recovery, Freddie Mac expects to see further growth in the multifamily sector, while the homeownership rate is projected to tick down from its already historically low rate. According to the GSE's multifamily demand forecast, the homeownership rate will descend by one or two percentage points to around the 65 percent level, which implies more than half of total new households will transition into rental units. On the other hand, the multifamily market is expected to reap somewhere around 1.7 million new renter households from 2011 to 2015. The projection is based on the assumption that the recovery is continuing at a slow pace.

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CMBS Delinquency Rate Makes Biggest 2012 Drop

The delinquency rate on U.S. commercial real estate loans saw its biggest drop in more than a year in October, according to Trepp, LLC. The analytics provider released its October 2012 U.S. CMBS (commercial mortgage-backed securities) Delinquency Report, revealing that the delinquency rate for commercial real estate loans in CMBS fell 30 basis points to 9.69 percent. The drop was the biggest one recorded in 14 months and marks the third straight month in which overall delinquency has improved.

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Cumulative CMBS Defaults Up But Slowed by New Issuances

The cumulative default rate for commercial mortgage-backed securities (CMBS) in the U.S. rose over the third quarter, largely due to an increase in defaults among office loans, according to the latest data from Fitch Ratings. The rate rose from 13.2 percent in the second quarter of this year to 13.5 percent in the third quarter, according to Fitch. The total amount in CMBS loans that defaulted in the third quarter was $2.2 billion. The total number of newly defaulted loans during the quarter is 119.

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Slow, Steady Recovery Expected for Commercial Real Estate: Report

The commercial real estate sector is improving, but investors need to be patient and not expect ""quick wins,"" according to findings from Emerging Trends in Real Estate 2013, which was jointly released by PwC and the Urban Land Institute (ULI). The report included surveys and interviews with over 900 individuals, and found ""modest gains in leasing, rents, and pricing will extend across U.S. markets from coast to coast and improve prospects for all property sectors, including housing."" Among the major commercial property types, survey participants in the report favored apartments.

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