Commercial and multifamily mortgage lending is expected to increase in 2014, as lenders’ appetites to place new loans grow even stronger, according to a new Mortgage Bankers Association survey of the top commercial and multifamily mortgage origination firms. Lenders were also polled on their expectations for borrower appetites in the New Year.Click to continue
Wolters Kluwer Financial Services has announced that it has acquired Financial Tools Inc., the provider of CASH Suite—an enterprise-wide financial analysis and credit risk management solution for U.S. commercial lenders. The addition of Financial Tools enables Wolters Kluwer Financial Services to provide U.S. community and regional banks and credit unions with the ability to manage financial performance and grow profitability with straight through processing across their commercial loan origination, servicing and regulatory reporting processes.Click to continue
Trepp, LLC released its December 2013 US CMBS Delinquency Report.
The Trepp CMBS delinquency rate continued to drop in December, which marked the seventh consecutive month of improvement. With a rate decrease of 23 basis points over the course of the month, the delinquency rate for US commercial real estate loans in CMBS is now 7.43 percent. The rate is 228 basis points better than the 2012 year-end delinquency rate.Click to continue
According to a new report from the Mortgage Bankers Association (MBA), the level of commercial/multifamily mortgage debt outstanding increased by $25.2 billion in the third quarter of 2013, as all four major investor groups increased their holdings. That is a 1.0 percent increase over the second quarter of 2013.
Total commercial/multifamily debt outstanding stood at $2.47 trillion in the third quarter. Multifamily mortgage debt outstanding rose to $887 billion, an increase of $10.8 billion, or 1.2 percent, from the second quarter.Click to continue
Delinquency rates for commercial and multifamily mortgage loans continued to decline in the third quarter of 2013, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report. During the third quarter of 2013, the 60+ day delinquency rate for commercial and multifamily mortgages held in life company portfolios decreased 0.02 percentage points to 0.06 percent. The 60+ day delinquency rate for multifamily loans held or insured by Freddie Mac decreased 0.04 percentage points to 0.05 percent.Click to continue
WFG National Title Insurance Company has announced that Brenda Olson and Chancey White will lead the national sales effort for its national commercial services group. Olson will serve as vice president of national sales, national commercial services group, where she will help to manage and grow the division’s national footprint, as well as maintaining existing client relationships. She started in commercial real estate as a sales representative for a national title company, and has worked in commercial real estate for over 16 years.Click to continue
The Multifamily Production Index (MPI), released by the National Association of Home Builders (NAHB), reached 54 in the third quarter, seven points lower than a spike in the second quarter, but the seventh consecutive reading above 50. The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100. The index and all of its components are scaled so that any number over 50 indicates that more respondents report conditions are improving than report conditions are getting worse.Click to continue
There is a requirement from the Consumer Financial Protection Bureau (CFPB) that mortgage companies have a Compliance Management System (CMS). We will focus on issues specifically relating to marketing and lead programs with a CMS. We want to provide useful information to assist you in the management of risk regarding marketing & lead acquisition for your mortgage company.Click to continue
The Mortgage Bankers Association (MBA) announced the election of Rodrigo Lopez, CMB, president and chief executive officer of AmeriSphere Multifamily Finance LLC as the new chair of its Commercial Real Estate/Multifamily Finance Board of Governors (COMBOG). R. Paige Hood, managing director of Prudential Mortgage Capital Company and Robert M. Stout, CRI, president and chief executive Officer of Q10 Capital, LLC will serve as vice chairs.Click to continue
Commercial and multifamily mortgage origination volumes during the third quarter of 2013 were 29 percent higher than during the third quarter of 2012 and originations were essentially flat compared to second quarter of 2013, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.Click to continue