Multifamily

While on the positive side, Fannie Mae CEO Priscilla Almodovar said the loan defect rate has dropped 75%, she and Freddie Mac President Michael Hutchins noted that they're closely examining disruptive servicing transfers and standards for multifamily properties.

Residential starts increased 7% last month after falling by the most in over a year in August, according to government data released Wednesday.

Providing support to affordable rental developments is a key component in the Biden administration's efforts to increase housing supply.

Property owners willing to restrict rental income will qualify for the terms of this new product originated by Delegated Underwriting and Servicing mortgage bankers.

Since 2019, distressed loans have increased 77%, but it is just a small portion of the $691 billion currently outstanding.

Fewer of these mortgages are paying off, adding to the amount of credit on investors' books, the Mortgage Bankers Association said.

Decreased availability of bank capital for new commercial construction helped slow activity from the previous nine quarters, according to a new report.

The work-from-home era has wrecked old assumptions about the need for office space, leaving an unprofitable glut in the market, Willy Walker said.

But overall volume is still expected to be 38% lower than 2022's commercial real estate originations, as higher interest rates remain a drag.

Lenders including Goldman Sachs Group Inc. and JPMorgan Chase & Co. have been trying to sell debt backed by offices, hotels and even apartments in recent months, but many are finding that tidying up loan books is no easy feat when concerns about commercial real estate have surged.