“The delinquency rate for loans backed by commercial properties has now increased for four consecutive quarters. The delinquency rate for loans backed by office properties now exceeds those of loans backed by retail and hotel properties, while the delinquency rates for multifamily and industrial property loans remain below one percent.”
–Jamie Woodwell, MBA’s Head of Commercial Real Estate Research
Total commercial and multifamily mortgage borrowing and lending is expected to fall to $442 billion this year, which is a 46% decline from 2022’s total of $816 billion. This is according to an updated baseline forecast released today by the Mortgage Bankers Association (MBA).
PHILADELPHIA–The Mortgage Bankers Association recognized 74 mortgage professionals – 35 from the residential market segment and 39 from the commercial/multifamily market segment – in a graduation ceremony for MBA’s Future Leaders Program held here at MBA’s 2023 Annual Convention & Expo.
Cushman & Wakefield, Chicago, served as exclusive adviser to the ownership group in procuring $223 million to refinance the Harbor Point portfolio in Stamford, Conn.
“Congratulations to this year’s graduating class of the esteemed Future Leaders Program. Each of these distinguished professionals have displayed integrity, excellence, and commitment to the program and our industry.”
–Mark Jones, 2024 MBA Chairman and President of Union Home Mortgage.
Commercial and multifamily developments and activities from MBA important to your business and our industry.
Commercial/multifamily finance presents a wide array of career opportunities with its ecosystem of companies, roles, and functions supporting the capital needs of real estate owners and operators. Join MBA Education and industry executives for a discussion to explore career trajectories, pivots, and leadership lessons learned.
Trepp, New York, reported the CMBS Special Servicing Rate increased by 20 basis points in September, up to 6.87%.
The voting period for the election of the Mortgage Bankers Association’s FY2024 officers and new and returning directors is underway. The voting ends at 5:00 p.m. E.T. on Thursday, October 12, 2023.
As mortgage rates reached 23-year highs in MBA’s latest Weekly Applications Survey and application activity fell to a low last seen in 1996, MBA President and CEO Robert Broeksmit, CMB, issued the following statement.
