S&P Global Ratings, New York, said commercial mortgage-backed securities special servicers are working through a “surge” in borrower requests for relief, primarily on lodging and retail properties.
Category: News and Trends
Brian Zitin: Foreshadowing Future Appraisal Bottlenecks During Covid-19
Lenders are seeing record-breaking volume month over month, and it doesn’t seem to be slowing down. One thing that has slowed down across the industry, however, is appraisal turn times. As the volume of loans requiring appraisals goes up, the number of appraisers seems to be going in the opposite direction.
Dealmaker: Durham, N.C. Office Tower Trades for $37M
Turnbridge Equities, New York, acquired Tower at Mutual Plaza, a 15-story Class A office tower in Durham, N.C., for $37.2 million.
mPower Event at MBA Annual20 with Capricia Marshall Oct. 20
The mPower event, Protocol: The Power of Diplomacy and How to Make it Work for You, takes place Tuesday, October 20 from 3:00-4:00 p.m. ET and features Capricia Marshall, who will share from her best-selling book of the same title and relate why protocol is important in everyone’s day to day lives.
MBA: September New Home Purchase Mortgage Applications Down 5% from August; Up 38.2 Percent from Year Ago
The Mortgage Bankers Association’s Builder Applications Survey data for September shows mortgage applications for new home purchases increased by 38.2 percent from a year ago, unadjusted, but fell by 5 percent from August.
Quote
“The strong year-over-year results for non-seasonally adjusted new home sales applications – up 38 percent – and estimated home sales – up 20 percent – are indicative of the fundamental strength seen in the housing market since the spring.” –Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.
Dealmaker: Electra Capital Provides $92M Bridge Loan
Electra Capital, West Palm Beach, Fla., closed a $92 million bridge loan for Four West Las Olas, Elevate Partners’ new apartment tower in downtown Fort Lauderdale, Fla.
MBA Premier Member Profile: Seyfarth Shaw LLP
With more than 900 lawyers across 17 offices, Seyfarth Shaw LLP provides transactional, advisory and litigation legal services to clients worldwide.
Join the Radian Everyday Heroes Challenge, Benefiting the MBA Opens Doors Foundation
This year, as part of the MBA Annual Convention & Expo and ConcertMBA, Radian has launched the Radian Everyday Heroes Challenge, which celebrates the heroes among us who are making a positive impact, while also supporting the MBA Opens Doors Foundation.
Despite Record-Low Rates, Mortgage Applications Dip in MBA Weekly Survey
Despite the lowest 30-year fixed rates in the history of the Mortgage Bankers Association’s Weekly Applications Survey, mortgage applicants appeared to step back for the week ending Oct. 9.