“Nearly 96% of all home mortgages are performing, which underscores how strong servicing portfolio performance is right now with the same resilience seen in the U.S. labor market.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis.
Category: News and Trends
Dealmaker: Greystone Provides $22M for Florida Properties
Greystone, New York, provided $22 million to refinance three multifamily properties in Tampa, Fla.
Zillow Predicts Improved Affordability, More Homes For Sale in 2024
Zillow, Seattle, predicts home buyers will have a bit more financial breathing room in 2024, although affordability remains a challenge.
MBA Advocacy Update: MBA-Supported ‘Trigger Leads’ Bill Introduced in Senate; Act Today on MBA’s MAA Call to Action
This week’s top legislative and policy news from the Mortgage Bankers Association.
Dealmaker: M&T Realty Capital Corp. Provides $11M Loan for Bronx Property
M&T Realty Capital Corp., Baltimore, provided a $10.5 million permanent loan to refinance a newly stabilized multifamily rental property in Bronx, N.Y.
Freddie Mac Apartment Investment Market Index Posts Slight YoY Increase
Freddie Mac Multifamily reported its Apartment Investment Market Index ticked downward in the third quarter but is up 0.3% over the past 12 months.
Boxwood Means: Small Cap Multifamily Properties Stay Positive
Boxwood Means, Stamford, Conn., found prices for small cap multifamily properties have remained positive despite headwinds for the larger sector.
Quote: Dec. 18, 2023
“Q2 2023 proved to be better than expected, as the critical defect rate continued to decline in the face of a surge in origination volume over the previous quarter.”
–Nick Volpe, Executive Vice President of ACES Quality Management
ACES: Critical Defect Rate Falls for Third Straight Quarter
ACES Quality Management, Denver, Colo., reported the critical defect rate for the second quarter of 2023 fell to 1.72%, a 3.37% decrease and the third consecutive quarter of declines.
Fitch: Outlook for Equity REITs is Deteriorating
Fitch Ratings, New York, said the outlook for U.S. equity real estate investment trusts in 2024 is deteriorating.