Multifamily

The global hospitality industry is facing the worst downturn in its history, and New York, the epicenter of the coronavirus outbreak in the U.S., is poised for a painful recovery.

The commercial mortgage broker's move is part of its formation of a dedicated multifamily group.

IRS General Counsel Michael Desmond said Wednesday his office has received “a number of requests” for extending deadlines.

Homebuilders in the Twin Cities ramped up production last month, despite a barrage of challenges including growing economic uncertainties and a mandate to practice social distancing rules on job sites.

Mounting economic fallout from the pandemic is fueling apartment landlords' concerns that more tenants will struggle to make their rent payments, even after most managed to come up with the money for April.

As the nation struggles with the coronavirus, now is not the time to make major revisions to the Community Reinvestment Act.

Tenants have threatened to suspend payments during the pandemic to pressure officials into providing rental assistance, but the effects on multifamily loans would compound concerns about servicers' liquidity and, ultimately, lenders' performance.

Fitch assumes a significant spike in defaults over the next few months, as well as declining new issuance volume during the second and third quarters of 2020, fewer maturing loans and fewer resolutions by special servicers.

New-home construction exceeded forecasts in February, underscoring momentum in the industry a month before the coronavirus pandemic injected uncertainty into the economy.

Add continued growth in commercial and multifamily mortgage debt outstanding to the list of things that the economic fallout from the coronavirus might affect.

The Affordable Housing Credit Improvement Act last week achieved a milestone by garnering bipartisan cosponsorship by more than half of the 435 members of the House.

Buying a home became slightly more attractive compared to renting in the fourth quarter, as the likelihood of another huge value drop decreased, an index from two Florida universities found.

Any impact from the coronavirus outbreak on commercial and multifamily loan delinquencies won't be known for some time, the Mortgage Bankers Association said.

Most of the pool is made up of office-property loans, but also includes a sizeable exposure to hotel and retail properties.

Alabama is fourth in the country for raw vacancy rate with more than 18% of all housing units in the state empty.

Black Knight introduced a model to gauge prepayment speeds and credit risk for investors that purchase commercial mortgage-backed securities.

New-home construction remained robust in January and applications to build jumped to the highest level since 2007 as low mortgage rates and a solid labor market continued to fuel housing demand.

Fannie Mae identified the adoption of hedge accounting and regular issuance of multifamily Connecticut Avenue Securities deals as among strategies it could continue to pursue while navigating regulatory uncertainties and change.

Despite a drop in multifamily loan volume, industrial, health care, office and retail originations pushed overall multifamily and commercial mortgage lending to unprecedented heights, according to the Mortgage Bankers Association.

The loan participation is part of a debt refinancing package that paves the way for expanding the Parkmerced mega-development.