Trepp, New York, reported the commercial mortgage-backed securities special servicing rate jumped 17 basis points in March to 7.31%.
Category: News and Trends
High Resolution Volume Drives CMBS Delinquency Rate Lower, Fitch Reports
The U.S. commercial mortgage-backed securities delinquency rate decreased nine basis points to 2.19% in March, according to Fitch Ratings, New York.
ATTOM Finds Foreclosure Filings Rise in First Quarter
ATTOM, Irvine, Calif., found 95,349 U.S. properties with foreclosure filings during the first quarter, up 3% from the previous quarter but down less than 1% from a year ago.
MBA Statement on the Veterans Affairs Servicing Purchase Program
MBA’s President and CEO Bob Broeksmit, CMB, released a statement on the Department of Veterans Affairs (VA) release of its Veterans Affairs Servicing Purchase (VASP) program.
MBA Chart of the Week: Goods and Services Inflation
The week’s news has been around the Consumer Price Index (CPI) release showing that inflation was hotter than expected in March, which is likely to delay the Federal Reserve’s first rate cut in 2024 and contributed to a significant spike in the 10-year Treasury yield to over 4.5%.
Servicing Quote Tuesday, April 9, 2024
“One area of the mortgage lending market is strong–and that is defect performance. Despite rate and volume concerns, critical defect rates are down for the fourth straight quarter.”
–Nick Volpe, Executive Vice President of ACES Quality Management
CRED iQ: Commercial Loan Modifications Surged in 2023
CRED iQ, Wayne, Pa., reported the number of commercial loan modifications jumped significantly in 2023 from 2022. And, the firm anticipates that trend will persist in 2024.
MISMO Seeks Public Comment on Two Issues
MISMO®, the real estate finance industry’s standards organization, is seeking public comment on two issues, the previously published IRS 4506-C dataset and the Ability to Repay Decision Model and Notation white paper.
ATTOM: Overall Property Taxes Rose 7% in 2023
ATTOM, Irvine, Calif., released an analysis of property taxes across the U.S., finding that there was a 6.9% increase in overall property taxes levied in 2023 from 2022.
ACES Quality Management: Critical Defect Rate Continues to Decline in Q3
ACES Quality Management, Denver, found the overall critical defect rate continued to fall in Q3 2023, by 2.91% to 1.67%.