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Commercial

Q2 Commercial and Multifamily Delinquency Rates on the Rise

Commercial and Multifamily Property

Delinquency rates for commercial and multifamily mortgage loans continued to decline in the second quarter of 2014, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report. During the second quarter of 2014, the 30-plus day delinquency rate for loans held in commercial mortgage-backed securities (CMBS) decreased 0.45 percentage points to 5.71 percent.Click to continue

Wells Fargo Tops MBA Survey of Commercial and Multifamily Mortgage Servicers’ Volumes

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The Mortgage Bankers Association (MBA) released its mid-year ranking of commercial and multifamily mortgage servicers’ volumes as of June 30, 2014. At the top of the list of firms is Wells Fargo with $446.8 billion in U.S. master and primary servicing, followed by PNC Real Estate/Midland Loan Services with $378.2 billion, Berkadia Commercial Mortgage LLC with $242.9 billion, KeyBank National Association with $167.2 billion, and GEMSA Loan Services, L.P. with $95.7 billion.Click to continue

Multifamily Production Index Gains Five Points

Apartment Pic/Credit: Stockbyte

The Multifamily Production Index (MPI) recently released by the National Association of Home Builders (NAHB), posted a gain of five points to a reading of 58 for the second quarter. It is the 10th straight quarter with a reading of 50 or above.Click to continue

Q2 Delinquency and Foreclosure Rates Slide

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The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 6.04 percent of all loans outstanding at the end of the second quarter of 2014. The delinquency rate decreased for the fifth consecutive quarter and reached the lowest level since the fourth quarter of 2007. The delinquency rate decreased seven basis points from the previous quarter, and 92 basis points from one year ago, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.Click to continue

Q2 Commercial and Multifamily Originations Dip Year Over Year

Commercial and Multifamily Property

According to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations, second quarter 2014 commercial and multifamily mortgage loan originations were two percent lower than during the same period last year, but 34 percent higher than the first quarter of 2014.Click to continue

Commercial Real Estate Lender Indicted by SIGTARP

Cherry Red Gavel/Credit: Comstock

The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) announced that Peter W. Hayes of Newark, Del. has been charged in the District of Delaware in a seven-count indictment with two counts of Fraudulently Benefiting in a Loan Transaction, two counts of Soliciting or Accepting for His Own Benefit Anything of Value in Connection With the Transaction and the Business of a Financial Institution, and three counts of Bank Fraud.Click to continue

Amid Uncertainty, Delinquency Rate Improves for CMBS in June

Commercial and Multifamily Property

Trepp, LLC has released its June 2014 U.S. CMBS Delinquency Report, finding that halfway through 2014, commercial mortgage-backed securities (CMBS) issuance has disappointed and uncertainty persists in the fixed income and equity markets. But one thing that has remained constant is the improving delinquency rate in CMBS. June marks the 13th straight month of improvement in the delinquency rate for US commercial real estate loans in CMBS.Click to continue

Jackson Martin Joins The Stone Group as Vice President

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Jackson Martin has joined Austin-based commercial real estate services firm The Stone Group as vice president. Martin will manage commercial real estate portfolios and transactions for The Stone Group and their national client base, while handling commercial lease negotiations, providing site and market comparative analysis, asset acquisition and dispositiClick to continue

Q1 Commercial/Multifamily Mortgage Debt Increases by $11.1 Billion

Commercial and Multifamily Property

The level of commercial/multifamily mortgage debt outstanding increased by $11.1 billion in the first quarter of 2014, as three of the four major investor groups increased their holdings. That is a 0.4 percent increase over the fourth quarter of 2013.   

Total commercial/multifamily debt outstanding stood at $2.56 trillion in the first quarter. Multifamily mortgage debt outstanding rose to $913 billion, an increase of $8.7 billion, or 1.0 percent, from the fourth quarter of 2013.Click to continue

Trepp and Kroll Partner for CMBS Surveillance Product

Handshake/Credit: Digital Vision

Trepp, LLC has announced an agreement with Kroll Bond Rating Agency (KBRA) to integrate its newly released CMBS surveillance product KCP (KBRA Credit Profile Reports) with the Trepp product suite.  According to the agreement, Trepp will provide authorized clients access to KBRA credit reports through its products.Click to continue