Delinquency rates for mortgages backed by commercial and multifamily properties increased during the third quarter of 2023, according to the Mortgage Bankers Association’s latest commercial real estate finance Loan Performance Survey.
Category: News and Trends
CMF Quote of the Week: Oct. 26, 2023
“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
MBA Forecast: Commercial/Multifamily Lending Expected to Fall 46% to $442 Billion in 2023
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).
MBA’s Future Leaders Program Graduates 74 Real Estate Finance Professionals
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.
Dealmaker: Cushman & Wakefield Arranges $223M Refinancing for Connecticut Portfolio
Cushman & Wakefield, Chicago, served as exclusive adviser to the ownership group in procuring $223 million to refinance the Harbor Point portfolio in Stamford, Conn.
CMF Quote of the Week: Oct. 19, 2023
“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.
CREF Policy Update Oct. 26
Commercial and multifamily developments and activities from MBA important to your business and our industry.
Nov. 9: CREF Career Conversations
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: Special Servicing Rate Climbs in September
Trepp, New York, reported the CMBS Special Servicing Rate increased by 20 basis points in September, up to 6.87%.
Voting for 2024 MBA Officers, New & Returning Directors Underway; Deadline Oct. 12
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.