Commercial and multifamily mortgage delinquencies remained low at the end of the first quarter, the Mortgage Bankers Association said this morning in its first quarter Commercial/Multifamily Delinquency Report.
Group Newslink: MBA Commercial/Multifamily NewsLink June 18
MBA: 1Q Commercial, Multifamily Mortgage Delinquencies Remain Low
Commercial and multifamily mortgage delinquencies remained low at the end of the first quarter, the Mortgage Bankers Association said this morning in its first quarter Commercial/Multifamily Delinquency Report.
U.S. May Retail Sales Surge 17.7% in Biggest Monthly Jump Ever
CNBC, June 16, 2020–Jeff CoxThe 17.7% headline gain including food sales easily topped the record 6.7% from October 2001 — a month after the 9/11 terrorist attacks — and beat …
Mall of America Said to Miss Another Payment on Mortgage Debt
Bloomberg, June 16, 2020–John GittelsohnMinnesota’s Mall of America missed another payment on a $1.4 billion mortgage, putting the borrower more than 60 days delinquent, sources said.https://www.bloomberg.com/news/articles/2020-06-16/mall-of-america-said-to-miss-another-payment-on-mortgage-debt
CoreLogic: Pandemic Hits Single-Family Rent Prices
CoreLogic, Irvine, Calif., said single-family rent growth slowed to its lowest level in years during April as unemployment reached its highest level in 80 years.
Dealmaker: JLL Arranges $368M for Office, Multifamily
JLL Capital Markets, Chicago, arranged $367.6 million to refinance a four-building office campus and five multifamily properties.
How Much Assistance Is Needed to Support Renters through the COVID-19 Crisis?
Urban Institute, June 15, 2020–Sarah Strochak, Aaron Shroyer, Jung Hyun Choi, Kathryn Reynolds, Laurie GoodmanThis brief compares published estimates of the impact of the COVID-crisis on renter households.https://www.urban.org/research/publication/how-much-assistance-needed-support-renters-through-covid-19-crisis
JP Morgan to Advise Freddie Mac in Planned Recapitalization, Conservatorship Exit
Commercial Observer, June 15, 2020–Mack BurkeBanking giant J.P. Morgan Chase has been tapped by Freddie Mac to advise the government-backed mortgage behemoth on its recapitalization and planned exit from federal …
Office, Industrial Broker Sentiment Improves Slightly
Industrial and office sector brokers reported slightly improved market confidence in May.
David Upbin of MBA Education on Staying Ahead of the Curve
David Upbin is Vice President of Education Operations and Programming & MBA Strategy with the Mortgage Bankers Association. He joined MBA in 2013 and is responsible for financial management, operations, delivery and programming of MBA Education’s suite of training products and events.