Delinquency rates were mixed in the second quarter for commercial/multifamily mortgage investor groups, according to the Mortgage Bankers Association's (MBA) Commercial/Multifamily Delinquency Report. The delinquency rate for loans held in commercial mortgage-backed securities (CMBS) is the highest since the series began in 1997. Delinquency rates for other groups remain below levels seen in the early 1990s, some by large margins.Read more

The aggregate value of Commercial Real Estate (CRE) loans priced by DebtX that collateralize commercial mortgage-backed securities (CMBS) increased to 79.4 percent as of July 30, 2010, up from 77.4 percent as of June 30, 2010. Loan values were 71.1 percent as of July 31, 2009. "Despite weak CRE fundamentals and increasing levels of delinquencies and defaults, 90 percent of CMBS loans are still performing," said DebtX Chief Executive Officer Kingsley Greenland.Read more

The Mortgage Bankers Association (MBA) has released its mid-year ranking of commercial and multifamily mortgage servicers as of the end of June 30, 2010. Topping the list of firms is Wells Fargo with $462.8 billion in U.S. master and primary servicing, followed by PNC Real Estate/Midland Loan Services with $307.9 billion, Berkadia Commercial Mortgage with $202.6 billion, Bank of America Merrill Lynch with $133.4 billion and KeyBank Real Estate Capital with $124.7 billion.

Specific breakouts include:Read more

Peter Brown has joined Southwest Securities FSB, the commercial banking subsidiary of SWS Group Inc., as senior vice president, director of special assets. Brown brings 20-plus years of experience in the banking industry to his new role with Southwest Securities. Over the course of his career, he has built an extensive track record of success overseeing special asset and risk management functions. He has held senior level positions with Capital One, Comerica Bank–Texas and BancTexas, Dallas, NA.Read more

Meridian Capital Group LLC, a national commercial real estate finance and advisory firm, has announced the addition of Robert Beni Jr. as a vice president of its commercial originations group. Beni will be supporting the underwriting and origination efforts of the commercial originations group nationally and will be reporting to Marty Lanigan, senior managing director of originations and strategic initiatives, and Chad Johnson, managing director. Beni will be working out of Meridian’s headquarters in New York City.Read more

The United States Attorney’s Office has announced that John R. Steffen was indicted on fraud charges involving his scheme to defraud The Business Bank of St. Louis by pledging Brownfield Remediation Tax Credits as collateral on a loan, and selling them to use the proceeds for other projects. According to the indictment, Steffen is in the business of construction of residential and commercial real estate as well as the rehabilitation and development of commercial real estate primarily in the St. Louis area.Read more

Clayton Holdings LLC, a provider of customized risk analysis, loss mitigation, operational solutions and staffing services to the mortgage industry, has announced that Scott H. Kramer has joined the company as director of commercial default servicing for its Quantum Servicing unit. Kramer who most recently spent five years as president of The Kramer Companies, a commercial real estate consulting firm, brings more than 24 years of real estate industry experience as a commercial real estate developer, consultant and real-estate attorney.Read more

JPMorgan Chase has announced that it has purchased a $3.5 billion portfolio of multifamily and commercial real estate loans from Citibank. Terms were not disclosed. The portfolio, which includes approximately 3,800 loans that are primarily multifamily real estate loans for properties located in California, New York and Illinois, is a strategic addition to Chase's Commercial Term Lending business. The business, which is part of Chase Commercial Banking, specializes in providing loans for moderately priced apartment buildings in stable markets.Read more

Berkadia Commercial Mortgage LLC has announced the appointment of Hugh F. Frater as chief executive officer of the company, effective Thursday, Aug. 12, 2010. Frater succeeds Michael I. Lipson, who is leaving the organization. Berkadia is a highly rated master, primary and special loan servicer and a top-tier commercial real estate loan originator. Berkadia acquired the North American commercial real estate loan origination and servicing businesses of Capmark Financial Group Inc. in December 2009.Read more

Second quarter 2010 commercial and multifamily mortgage loan originations were one percent higher than during the same period last year and 35 percent higher than during the first quarter, according to the Mortgage Bankers Association's (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.Read more