MBA President and CEO Robert Broeksmit, CMB, testified before Congress yesterday. He told the House Financial Services Committee that MBA strongly opposes key elements of the Basel III proposal, which, absent significant revisions, could increase borrowing costs and reduce credit availability.

The level of commercial/multifamily mortgage debt outstanding increased by $37.7 billion (0.8 percent) in the second quarter of 2023, according to the Mortgage Bankers Association’s latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report.

Commercial and multifamily developments and activities from MBA important to your business and our industry.

MISMO, the real estate finance industry’s standards organization, seeks nominations for qualified industry professionals to serve on MISMO’s Standards Governance Committees for a two-year term beginning in January 2024. Positions are available on both the Residential and Commercial Standards Governance Committees.

Launched in 2022, the CREF Careers Student Fellowship program is an equity-driven initiative established to serve students of diverse identities. Through industry exposure and a career-advancement curriculum, Fellows will receive a one-of-a-kind introduction to the $4.5 trillion industry, its leaders, and other professionals.

MBA NewsLink interviewed JLL Value and Risk Advisory group CEO Mike Ellis and Head of Client Engagement Tony Lenamon about commercial real estate valuation and other challenges.

Berkadia, New York, announced it secured $26 million for the financing of Land Rover Los Angeles, a dealership and service center.