“Sluggish” commercial real estate investment activity caused loan closings to slow in the third quarter, reported CBRE, Los Angeles.
Category: News and Trends
Dealmaker: Phillips Realty Capital Structures $142M Lease-Up Bridge Financing
Phillips Realty Capital, Bethesda, Md., originated a $141.7 million bridge loan to recapitalize The Sur, a recently delivered 360-unit apartment community near Amazon’s HQ2 in Arlington, Va.
Mortgage Applications Dip Slightly in MBA Weekly Survey
Despite sustained record-low interest rates, mortgage applications dipped slightly during the holiday-shortened Thanksgiving week, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending November 27.
Dave Parker: Rebounding Non-QM Market Requires Quality Review to Mitigate Risk
The non-QM market is making a recovery and, with continued demand from borrowers, changes to the current QM lending rule and the approaching expiration of the QM patch, is likely to stay on the rebound. As a new range of products come to the market, the question now becomes, how can the mortgage industry ramp up and ensure loan quality for lenders, servicers, and investors?
‘Gaining Momentum’: October Annual U.S. Home Prices Up 7.3%
CoreLogic, Irvine, Calif., said home prices increased by 7.3% in October from a year ago, marking the fastest annual appreciation since April 2014.
‘Not Ok? That’s Ok:’ Financial Services, Consumer Coalition Launches Borrower Awareness Campaign
The Mortgage Bankers Association and a broad coalition of financial services stakeholders recently launched a consumer awareness campaign to reach borrowers who have missed one or more mortgage payments as a result of the COVID-19 pandemic and may be eligible for forbearance assistance under the CARES Act or other forms of mortgage payment relief.
MBA: Share of Mortgage Loans in Forbearance Increases to 5.54%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance increased to 5.54% of servicers’ portfolio volume as of November 22, 2020 from 5.48% the prior week. MBA estimates 2.8 million homeowners are in forbearance plans.
MBA Spring Conference & Expo Apr. 20-22
The Mortgage Bankers Association announced it combined all of its signature spring conferences into a single Spring Conference & Expo, taking place via MBA LIVE from Apr. 20-22.
Deep End of the CMBS Pool: A Conversation with KBRA Analysts
KBRA just released its 2021 Sector Outlook: CMBS: Slow and Steady report. As the real estate finance industry grapples with increased infection rates approaching the holiday season and how to think about 2021, MBA NewsLink sat down with KBRA’s Patrick McQuinn and Sacheen Shah to get their insights.
Quote
“For the second week in a row, the share of loans in forbearance has increased, driven by a rise in new forbearance requests and another slowdown in the pace of forbearance exits. The increase was across all loan and servicer types. Even GSE loans, which had previously declined for 24 straight weeks, saw an increase last week.”
–Mike Fratantoni, MBA Senior Vice President and Chief Economist.