2-Year Low for New Business at Freddie Secondary activity at the Federal Home Loan Mortgage Corp. has not been this weak during any month in more than two years. The news was better for serious residential delinquency.
Further Improvement in CMBS Delinquency The rate of late payments on securitized commercial real estate loans has fallen for 11 consecutive months. Hotel loans had the biggest improvement during the latest month.
Ginnie MBS Issuance at 20-Month Low Mortgage securitizations fell to the lowest level in 20 months at the Government National Mortgage Association -- with multifamily activity sinking by nearly a third. One bright spot was the securitization of reverse mortgages.
CMBS Delinquency at Lowest Level in Over 3 Years For the first time in more than three years, the rate of delinquency on securitized commercial real estate loans has declined below 8 percent. Helping the latest improvement were mortgages backed by industrial properties.