Delinquency rates for mortgages backed by commercial and multifamily properties increased slightly through the first quarter, according to the Mortgage Bankers Association’s latest commercial real estate finance Loan Performance Survey.
Category: News and Trends
MBA: Share of Mortgage Loans in Forbearance Decreases to 0.55%
The Mortgage Bankers Association’s monthly Loan Monitoring Survey reported loans in forbearance decreased by 5 basis points to 0.55% of servicers’ portfolio volume in March from 0.60% in February.
Quote: Apr. 19, 2023
“Last week’s increase in mortgage rates prompted a pullback in application activity. With more first-time homebuyers in the market, we continue to see increased sensitivity to rate changes. The 30-year fixed rate increased 13 basis points to 6.43 percent, which led to purchase applications declining 10 percent.”
–Joel Kan, MBA Vice President and Deputy Chief Economist.
Maureen Townson of Enact: Keeping Homebuyer Education Current and Relevant for Borrowers
April is Financial Literacy Month. As mortgage professionals, we have the opportunity – and responsibility – to educate borrowers about homeownership from beginning the homebuying process to discussing what happens after the loan closes.
Souren Sarkar, CMB, of Nexval: What Recent Flight Fiascos Can Teach Us About Investing in Technology
If mortgage servicers ever needed an argument to not hold back on technology investments, they need look no further than the recent fiascos in the airline industry.
Tracy Freese of Help With My Loan: Why AI Is a Game-Changer for the Mortgage Industry
Over the past few years, AI has become widely used across many industries, including finance. Artificial intelligence technologies are rapidly becoming better, able to take on tasks that are more complex. AI technologies also getting more specific to certain applications. Now, for example, you can leverage AI lending software to intelligently process mortgage documents.
Sponsored Content from First American Data & Analytics: Upgrading Your Tech Stack–Don’t Overlook Data Quality
Data plays a critical role in lending decisions. It’s important to understand how it powers your solutions and why quality matters.
Dealmaker: Transwestern Real Estate Services Closes $16M Affordable Housing Sale
Transwestern Real Estate Services’ Mid-Atlantic Multifamily Group brokered the sale of Queens Park Plaza in Hyattsville, Md., for $16 million.
MBA: 1Q Commercial/Multifamily Mortgage Delinquency Rates Up Slightly
Delinquency rates for mortgages backed by commercial and multifamily properties increased slightly through the first quarter, according to the Mortgage Bankers Association’s latest commercial real estate finance Loan Performance Survey.
The Sky Isn’t Falling for Small-Cap Commercial Real Estate
Small-cap commercial real estate appears to be in better shape than the larger CRE market, reported Boxwood Means LLC, Stamford, Conn.