Commercial mortgages

While there was a small uptick in missed payments for multifamily loans, the rate remained in the same area it's been at for the last year, according to the Mortgage Bankers Association.

The company provides a secondary market outlet for its retail and wholesale lending corporate sibling as well as for small balance commercial loans.

Short-term late payment rates rose again and later stage delinquencies remain at elevated levels compared to those prior to the pandemic, the Mortgage Bankers Association said.

However, conditions for commercial mortgages overall worsened slightly due to persistent concerns in the hotel and office sectors, a Moody’s Investors Service report found.

Thanks to a series of government measures, the pandemic did not cause the massive wave of distressed debt flooding the market that many expected, but certain property types remain vulnerable.

However, the number of borrowers who failed to remit payment but were not yet 30 days overdue increased.

Five transactions in the past week provided cash infusions for tech companies that are developing products for real estate finance.

The proceeds are expected to be reinvested into agency mortgage-backed securities, which already make up 93% of Annaly's portfolio.

Volumes should rise this year but it could become more difficult to get loans for certain property types, the Mortgage Bankers Association said.

Fitch and Trepp reported that overall commercial mortgage-backed security delinquencies were down, while the MBA reported a slight increase.

The river of red ink will likely begin to flow in the new year, due not only to the pandemic itself, but also to longer-term secular trends that have been accelerated by COVID-induced changes in the economy, says DebtX President and CEO Kingsley Greenland.

The $425 million loan securitization is among two single-asset, commercial-mortgage deals launching this week. Brookfield Asset Management's global real estate arm is also tapping investors to finance an $825 million loan backed by a downtown Manhattan office building.

But late payments for all other investor types rose compared with the second quarter.

Gelt Financial looks to troubled sectors, including retail, for prospective deals.

The ballot measure, which would allow local jurisdictions to expand rent control, had concerned mortgage companies who worried the law would result in a patchwork of different policies that could complicate underwriting and discourage lending.

The price for the commercial valuation and budgeting technology company was not disclosed.

And an uptick from second-quarter numbers is attributed to seasonality rather than any upswing in the economy.

The bank operating system’s integration with a technology platform for construction loans adds to indications of nCino’s increasing relevance to real estate-secured lending.

And how people involved with Replay Acquisition made it more attractive than an initial public offering, according to CEO Patricia Cook.

The predominantly white universe of real estate investors may be used to working with people and companies with enough financial resources to have a track record in the business, but historic inequities have limited those opportunities for Black executives.