A group of life insurance companies has released performance data for commercial mortgage loans based on an index that is the first benchmark for the private commercial mortgage market, according to the companies.The LifeComps index is based on actual historical data that enable investors to compare their commercial mortgage loan performance with the market aggregate as well as that of other asset classes. The index was created in 1996 by The Equitable, John Hancock, Northwestern Mutual, Principal Financial, and Prudential Insurance Co., and started collecting data from participants in 1997, the companies said. Since then, Allstate LIC, Connecticut General, and Guardian Life have also elected to participate in the survey. For the third quarter, the index showed a total return of 0.581%. Tom Jensen, a senior portfolio manager at Allstate and chairman of LifeComps, said the index "provides a long-term benchmark that will allow the commercial mortgage asset class to mature and be better understood by investors in commercial mortgage whole loans."
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28