“While estimating future issuance is always a challenge, the current environment is making any projections extremely difficult…a lack of demand for hotel and non-essential retail will continue to keep CMBS issuance from the growth seen in years prior to the pandemic.”
–Patrick McQuinn, Senior Director with KBRA’s CMBS new-issuance group.
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance increased to 5.48% of mortgage servicers’ portfolio volume as of November 15, from 5.47% the week before. MBA estimates 2.7 million homeowners are in forbearance plans.
This week’s chart highlights the seriously delinquent rate – the percentage of loans that are 90 days or more delinquent or in the process of foreclosure – in every state across the country.
Trepp, New York, said returns for life insurance commercial mortgages stabilized in the third quarter, but noted credit concerns remain.
“While a revised capital framework for the GSEs is a necessary step to ensure their safety and soundness, we are disappointed with several aspects of the final rule…given that this rule will affect both the cost and availability of mortgage credit for borrowers, we believe FHFA should conduct a quantitative impact study to determine the full impact of the rule.”
–MBA President & CEO Robert Broeksmit, CMB, responding to a Federal Housing Finance Agency final rule on a capital framework for Fannie Mae and Freddie Mac.
The Federal Housing Finance Agency on Nov. 18 released a final rule that establishes a new regulatory capital framework for Fannie Mae and Freddie Mac.
The Federal Housing Finance Agency last week announced 2021 multifamily loan purchase caps for Fannie Mae and Freddie Mac at $70 billion for each Enterprise, totaling $140 billion in support to the multifamily market.
The most volatile and unpredictable economy in a decade has produced the strongest housing market in more than a decade—and, according to the Mortgage Bankers Association, it could get even stronger.
Better disclosures would allow rating agencies to better assess commercial real estate credit risk in bank loan portfolios, said DBRS Morningstar, Toronto.
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased for the 11th week in a row, to 5.47% of servicers’ portfolio volume as of Nov. 8 from 5.67% the prior week – a 20-basis-point improvement. MBA now estimates 2.7 million homeowners are in forbearance plans.
