SAN DIEGO — The Mortgage Bankers Association said $248.8 billion of the $2.6 trillion (12 percent) of outstanding commercial and multifamily mortgages held by non-bank lenders and investors will mature in 2022, a 12 percent increase from the $222.5 billion that matured in 2021.
Category: News and Trends
Wells Fargo Leads MBA 2021 Year-End Commercial/Multifamily Servicer Rankings
SAN DIEGO — The Mortgage Bankers Association released its year-end ranking of commercial and multifamily mortgage servicers’ volumes as of December 31.
Mortgage Delinquencies Near Pre-Pandemic Lows
Delinquency rates for mortgage loans on one-to-four-unit residential properties continued to trend downward, nearing historic lows last seen before the coronavirus pandemic, the Mortgage Bankers Association reported Thursday.
Real Estate Investor Purchases Up 40% From Year Ago
Real estate investor purchases accounted for 16.4% of all home purchases nationally in the third quarter from 11.7% a year ago, an increase of more than 40 percent, reported RealtyTrac, Irvine, Calif.
FHFA Seeks Input on FY2022-2026 Strategic Plan
The Federal Housing Finance Agency on Wednesday asked for input on its Draft Strategic Plan, which outlines the Agency’s priorities for the coming years as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac.
CMBS Defeasance Snaps Back
Kroll Bond Rating Agency, New York, reported commercial mortgage-backed securities defeasance volume rebounded strongly last year after falling by nearly half in 2020.
ATTOM: Foreclosure Activity at Nearly 2-Year High
ATTOM, Irvine, Calif., reported 23,204 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 29 percent from a month ago and 139 percent from a year ago to its highest level since onset of the coronavirus pandemic.
Fitch: Non-Bank Mortgage Servicers Face Increasing Regulatory Scrutiny
Fitch Ratings, New York, said regulatory scrutiny of servicing practices at U.S. mortgage companies is expected to increase in 2022 as pandemic-related government forbearance programs expire and borrowers transition into other permanent loss mitigation alternatives or default.
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“The quarters right before the COVID-19 pandemic represented some of the lowest delinquencies ever recorded; delinquencies are now approaching levels not seen since the first quarter of 2020, which is a testament to the strength of the U.S. labor market.”
–MBA Vice President of Industry Analysis Marina Walsh, CMB.
MBA, Trade Groups Urge Senate Support of ‘Tough Legacy’ LIBOR Bill
The Mortgage Bankers Association and more than a dozen industry trade groups on Monday urged Senate leadership to support legislation that would address “tough legacy” contracts that currently reference the soon-to-expire London InterBank Offered Rate.