With interest rate hikes, recession talk and rising inflation defining themes for commercial real estate, MBA NewsLink asked three special servicing executives to get their takes on labor, property and capital market dynamics.
Category: News and Trends
MBA Advocacy Update Nov. 21, 2022
With just a few races left to be finalized, Republicans secured a narrow House majority in the coming Congress earlier this week. And regardless of the December 6 Georgia runoff outcome, Democrats have retained their Senate majority. Leaders and key committee chairs in both chambers will be determined in the coming weeks.
Existing Home Sales Fall 9th Straight Month
October existing home sales fell—the ninth consecutive monthly decrease—the National Association of Realtors reported Friday.
Investors Increase Real Estate Target Allocations
Institutional investors continue to increase their target allocations to real estate and expect attractive buying opportunities to emerge over the next several years, reported Hodes Weill & Associates and Cornell University in their annual Institutional Real Estate Allocations Monitor.
MBA Chart of the Week Nov. 18, 2022: Return to Office Rates
This week’s Chart of the Week highlights data from Kastle Systems for November 3-9, showing the range of daily occupancy rates for 10 major metros. For these metros, the lowest average occupancy rate for a particular day of the week was 32.2 percent, and the highest was 56.0 percent, compared to essentially 100 percent occupancy pre-pandemic for most days.
Dealmaker: Berkadia Completes $48M Apartment Community Sale
Berkadia Institutional Solutions sold Hardy Springs, a 149-unit single-story 55-plus apartment community in suburban Atlanta.
MBA Report: IMBs Report 3Q Losses
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net loss of $624 on each loan originated in the third quarter, the Mortgage Bankers Association reported Friday.
The Week Ahead, Nov. 21, 2022: Busy Week Ahead of Thanksgiving
Good morning, and happy Monday! It’s a short week—but a busy one, with lots happening before the Thanksgiving holidays.
Patrick Kehoe of Messagepoint: Why Now is the Time to Bring Control Over Your Borrower Communications Back In-house
Today’s communications systems make it possible for mortgage servicers to take back control with business users at the helm over the authoring and management process through the point of sending it to the printer or digital systems that deliver or mail the communication. This gives servicers the opportunity to lower costs, reduce operational risk, and set up for a thriving digital future.
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“The average pre-tax net production income per loan reached its lowest level since the inception of MBA’s report in 2008, which is sobering news given that the third quarter is historically the strongest quarter of the year “The industry continues to struggle with a perfect storm of lower production volume and revenues and escalating production costs, which for the first time exceed $11,000 per loan.”
–Marina Walsh, CMB, MBA Vice President of Industry Analysis.