SAN DIEGO–Twenty percent ($929 billion) of the $4.7 trillion of outstanding commercial mortgages held by lenders and investors will mature in 2024, a 28% increase from the $729 billion that matured in 2023, according to the Mortgage Bankers Association’s 2023 Commercial Real Estate Survey of Loan Maturity Volumes, released here at the 2024 Commercial/Multifamily Finance Convention and Expo.
Category: News and Trends
FHFA to Host Multifamily Insurance Symposium; Agency Official Talks Other 2024 Priorities
SAN DIEGO–Amid rising premiums and natural disasters, it’s no surprise that insurance is a big concern for the multifamily industry in 2024. With that in mind, the Federal Housing Finance Agency’s Siobhan Kelly, Associate Director of the Office of Multifamily Analytics and Policy, announced the agency will hold a multifamily insurance symposium March 13–with both in-person and virtual options–to brainstorm some solutions to insurance issues.
MBA Releases Statement on IMBs Following Congressional Hearings on FSOC’s Annual Report to Congress
MBA’s President and CEO Bob Broeksmit, CMB, released a statement in response to commentary made on independent mortgage banks during Congressional hearings on the Financial Stability Oversight Council’s Annual Report to Congress:
MBA Chart of the Week: Delinquency Rates by Loan Type
According to the latest MBA National Delinquency Survey (NDS), the overall delinquency rate for mortgage loans on one‐to‐four‐unit residential properties increased to a seasonally adjusted rate of 3.88% of all loans outstanding at the end of the fourth quarter of 2023.
Down Payment Resource Study: 135 Homebuyer Assistance Programs Added in 2023
Down Payment Resource, Atlanta, released its Q4 2023 Homeownership Program Index Report, finding there were 135 homebuyer assistance programs introduced throughout the year, during a period when home affordability has been top-of-mind for many.
CMBS Delinquency Rate Ticks Upward: Trepp
The CMBS delinquency rate rose modestly in January, increasing 15 basis points to 4.66%, according to Trepp, New York.
Reflecting on 2023 Servicing Trends, Anticipating 2024’s: A Q&A With BSI Financial’s Allen Price
MBA NewsLink recently interviewed Allen Price, SVP at BSI Financial, about the trends he saw in the servicing market in 2023, and what he thinks may be to come this year.
Servicing Quote Tuesday, Feb. 13, 2024
“Mortgage delinquencies increased across all product types for the second consecutive quarter.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis.
MISMO Publishes Update to Engineering Guideline for Class Words
MISMO, the real estate finance industry’s standards organization, yesterday announced the publication of the updated MISMO Engineering Guideline (MEG) 7.
Luxury Home Prices Hit New High; Record Share of High-End Buyers Pay Cash: Redfin
The typical U.S. luxury home sold for a record $1.17 million in the fourth quarter, up 8.8% from a year earlier, according to Redfin, Seattle.