Arbor Realty Trust, Uniondale, N.Y., funded $106.3 million in Freddie Mac and Fannie Mae loans for Virginia and Utah multifamily assets.
Category: News and Trends
Commercial, Multifamily Mortgage Delinquencies Decline in October
Delinquency rates for mortgages backed by commercial and multifamily properties declined in October, the Mortgage Bankers Association’s latest monthly CREF Loan Performance Survey reported.
Industry Briefs Nov. 3, 2020
News in brief from SimpleNexus, Black Knight, the Consumer Financial Protection Bureau and TovoData.
Commercial, Multifamily Mortgage Delinquencies Decline in October
Delinquency rates for mortgages backed by commercial and multifamily properties declined in October, the Mortgage Bankers Association’s latest monthly CREF Loan Performance Survey reported.
Share of Mortgage Loans in Forbearance Decreases to 5.83%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey revealed the total number of loans now in forbearance decreased by 7 basis points from 5.90% of servicers’ portfolio volume in the prior week to 5.83% as of October 25, 2020.
MISMO Seeks Comment on New API Toolkit
MISMO, the mortgage industry’s standards organization, released its new MISMO API (application programming interface) Toolkit yesterday for a 60-day member comment period.
Freddie Mac: Most Renters Prioritize Rent Payments Amid Pandemic
Freddie Mac, McLean, Va., reported that overall rental payment performance has remained strong in the face of the pandemic-related economic downturn.
Commercial/Multifamily Borrowing Falls 47 Percent in Third Quarter
Commercial and multifamily mortgage loan originations were 47 percent lower in the third quarter compared to a year ago, and increased 12 percent from the second quarter of 2020, the Mortgage Bankers Association reported.
Share of Mortgage Loans in Forbearance Decreases to 5.83%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey revealed the total number of loans now in forbearance decreased by 7 basis points from 5.90% of servicers’ portfolio volume in the prior week to 5.83% as of October 25, 2020.
Quote
“With more borrowers exiting forbearance in the prior week, the share of loans in forbearance declined across all loan types. Almost half of forbearance exits to date have been from borrowers who remained current while in forbearance, or who were reinstated by paying back past-due amounts.”
–MBA Senior Vice President and Chief Economist Mike Fratantoni.