Commercial mortgage delinquencies increased in the fourth quarter of 2023, according to the Mortgage Bankers Association’s latest Commercial Delinquency Report.
Category: News and Trends
Bob Broeksmit Lays Out Important Items on MBA’s Radar to Kick Off National Advocacy Conference
WASHINGTON–As Mortgage Bankers Association members take to the nation’s capital–and U.S. Capitol Building–to share the industry’s story with lawmakers and hear from legislative stakeholders via the National Advocacy Conference, key policy and regulatory topics such as Basel III endgame, housing supply and HUD Secretary Marcia Fudge stepping down are top of mind.
Commercial and Multifamily People in the News March 21, 2024
Personnel news from Greystone Real Estate Capital, PACE Loan Group and Dwight & Co.
MBA: Commercial and Multifamily Mortgage Debt Outstanding Increased in Fourth Quarter
The level of commercial and multifamily mortgage debt outstanding at the end of 2023 was $130 billion (2.8%) higher than at the end of 2022, according to the Mortgage Bankers Association’s (MBA) latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report.
Redfin: Asking Rents Up 2% in February
Redfin, Seattle, reported asking rents rose 2.2% year-over-year to $1,981 in February. They also grew by 0.9% from January.
MBA Opens Doors Foundation Receives $1 Million Pledge from Equity Prime Mortgage
The MBA Opens Doors Foundation (Opens Doors) announced that Eddy Perez, Founder and CEO of Equity Prime Mortgage (EPM), has pledged $1,000,000 over 10 years in honor of the late former MBA President and CEO David H. Stevens, CMB.
MBA Statement on the Biden Administration’s Housing Affordability Initiatives Warns Against CFPB Reforms on Closing Costs, Title Insurance
MBA’s President and CEO Bob Broeksmit, CMB, released a statement on the Biden administration’s announcements on housing at the State of the Union address.
CBRE: North American Data Center Pricing, Supply Remain Strong in Primary Markets
CBRE, Dallas, found the primary market supply for data centers in North America grew 26% year-over-year in 2023.
CRED iQ: Multifamily Distress Rate Up 80 Basis Points in February
CRED iQ, Wayne, Pa., reported the Distress Rate for all property types trimmed 4 basis points in February to 7.35%. However, the multifamily distress rate was up 80 basis points–the largest monthly increase in that sector in more than a year and a half.
HUD Secretary Marcia L. Fudge to Resign March 22
Marcia L. Fudge, the 18th Secretary of the U.S. Department of Housing and Urban Development, announced she will resign effective March 22, 2024.