Multifamily

Commercial and multifamily mortgage debt outstanding grew 6.8% in 2018, benefiting from strong employment numbers and strained inventory, according to the Mortgage Bankers Association.

Berkadia, a joint venture run by Berkshire Hathaway and Jefferies Financial Group, is acquiring real estate capital advisory firm Central Park Capital Partners to diversify its capital sources.

Freddie Mac closed its fifth LIHTC fund since 2018 and will make three investments in affordable housing through a partnership with National Equity Fund.

The agency's pilot program, designed to streamline mortgage insurance applications associated with the Low-Income Housing Tax Credit program, will now include applications for new construction and substantial rehabilitation.

Stable equity and debt availability should keep multifamily and commercial real estate originations in line with 2017's peak, according to the Mortgage Bankers Association.

While Fannie Mae's multifamily origination volume took a step back from 2017's record high of $67 billion, its delegated underwriting and servicing program provided $65 billion in financing in 2018, led by Wells Fargo.

High home prices and expected interest rate hikes should lead to continued growth in multifamily mortgage origination volume in 2019, according to Freddie Mac.

Loans in commercial mortgage-backed securities originated after 2009 by nonbank lenders have a significantly higher default rate than those originated by banks, a Fitch Ratings report said.

The government shutdown is not just affecting federal agency employees' ability to make their mortgage or rent payments, it could take them out of the home buying market, Zillow said.

Freddie Mac completed its first multifamily credit risk transfer transaction that used an insurance/reinsurance structure.

Freddie Mac issued its first non-low-income housing tax credit forward commitment, providing financing for an affordable housing development in Minnesota.

New-home construction rebounded last month to the best pace since August while permits rose to a seven-month high, a sign homebuilding is potentially stabilizing even as higher prices and borrowing costs pose headwinds.

Dividing the transaction into two tranches allowed the GSE to tailor the transaction to the risk appetite of participants, lowering the cost of reinsurance.

The nation is suffering from a housing affordability crisis and lower construction costs and increased government subsidies can ease the pain, consumers state in a National Association of Home Builders survey.

The performance of loans included in commercial mortgage-backed securities improved for the fifth consecutive quarter, with delinquencies down 179 basis points over the time frame, according to the Mortgage Bankers Association.

The Federal Housing Administration's risk-sharing program with the Federal Financing Bank began as a temporary fix, but the agency is exploring how to make it more permanent.

New-home construction picked up in October on a rebound in apartments and other multifamily housing, offering some hope that the market is stabilizing despite rising prices and borrowing costs.

Challenges will likely increase as interest rates rise and investors grow more concerned about a downward turn in the economic cycle.

Now that Akron, Ohio, has named the buyer, the estimated $20 million redevelopment of the CitiCenter Building joins a glut of downtown projects competing for private funding, public tax breaks and future tenants.

Minnesota Housing will invest $87.5 million in 1,700 new and existing housing units for low-income Minnesotans this year.