Delinquencies on commercial mortgage-backed securities resumed their downward trend in May, falling three basis points to 0.66%, according to a Fitch Ratings loan delinquency index.Loans that have become real estate owned total 47% of the index, while foreclosures represent an additional 18%, the rating agency said. "Hotel properties represent a larger share of the REO category, 23%, than their 8% contribution to the outstanding CMBS universe, reflecting the sector's higher default probability due to the short-term nature of hotel leases," said Patty Bach, a Fitch senior director. Fitch can be found online at http://www.fitchratings.com.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18