CMF Newslinks Archive

“The commercial mortgage lending market should remain favorable to borrowers for the balance of the year. Loan credit spreads remain tight and underwriting standards are stable. While there is some risk to an escalation of trade disputes, this has not yet influenced credit availability or pricing.”–CBRE Global President of Debt & Structured Finance and Mortgage Bankers Association Vice-Chairman Brian Stoffers, CMB.

“Loan prices in the commercial mortgage-backed securities universe remained flat in June as U.S. Treasuries remained relatively unchanged.” –DebtX Managing Director Will Mercer.

“A new, emerging trend is that the much cleaner loans of CMBS 2.0 are beginning to show cracks as a small chunk of newer production hits inevitable difficulties,” he said. “Maintaining less than one-third of one percentage point in delinquent loans is unnatural through the credit cycle.”–Brian Olasov, Executive Director of Financial Services Consulting with Carlton Fields, New York

“The net result for the major property sectors may be no change, but some property types have done quite well over the past year and a half. Values for industrial, manufactured home parks and student housing are all up by double-digit amounts over that period. Retail has seen prices decline about 10 percent. Price changes in other sectors have been relatively small.”–Green Street Advisors Senior Analyst Peter Rothemund.

“Commuters give the city its tidal restlessness, natives give it solidity and continuity, but the settlers give it passion.”–E.B. White

“Our members experience the unwarranted regulatory burdens and privacy issues from the unnecessary application of HMDA reporting requirements to business-purpose loans secured by multifamily properties. We believe that HMDA reporting on business-to-business loans secured by multifamily properties is not necessary to fulfill the statutory purposes of HMDA and that the burden of collecting and reporting that information therefore far outweighs the benefits of doing so.”–From an MBA letter to the Consumer Financial Protection Bureau, asking that its commercial/multifamily members be granted an exception to reporting requirements under the Home Mortgage Disclosure Act.

“During the first three months of 2018, commercial and multifamily mortgage debt outstanding increased more than during any other Q1 since before the Great Recession.”–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

“These incremental improvements help further standardize and streamline the property inspection process, allowing lenders more time to focus on monitoring property condition and performance.”–Grandbridge Real Estate Capital Vice President Anne Doty, discussing revisions to MBA’s Standard Property Inspection Form. Public comments regarding the changes are requested by July 20.

“2017 was the strongest year on record for commercial and multifamily real estate finance. Mortgage bankers closed a record-high $530 billion in loans backed by commercial and multifamily properties, the total amount of mortgage debt outstanding grew to $3.1 trillion and for most capital sources, mortgage delinquency rates were at or near all-time lows.”–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

“Apart from the fact that 2007’s [commercial mortgage-backed securities] spreads were tighter than currently, loan-to-values were higher and debt service coverage ratios were substantially lower, 2007 also had higher interest-only percentages–both partial and full–than we currently see in the market. Today’s CMBS are a long way from the ‘good old days’ of 2007.”–Brian Olasov, Executive Director of Financial Services Consulting with Carlton Fields, New York