Permits, Completed Construction Up on Multifamily
A month-over-month rise in permit activity and a burst in completed construction was driven by increased apartment activity. Home builders broke ground on more homes.
MBS Issuance Slowest in 5 Months at Ginnie
Securitizations on behalf of the Government National Mortgage Association turned lower last month, falling to the slowest volume in five months. The weak performance came off of a record year.
Quarterly CMBS Issuance Highest in 3 Years
Quarterly securitizations of non-agency commercial real estate loans climbed to the highest level in three years, while year-to-date volume is well ahead of last year.
CMBS, Hotels Lead Increase in CRE Lending
Quarterly commercial real estate loan production moved higher. Leading the improvement from a year earlier were securitized loans and hotels.
Mortgage Earnings, Originations Decline at Regions
Regions Financial Corp. reported that its mortgage originations declined, as mortgage earnings tumbled. The financial institution reduced the size of its servicing portfolio and commercial real estate holdings.
HELOC, GSE and Gov Mortgage Demand Weakens
Financial institutions are reporting waning demand for government-sponsored enterprise loans and government-backed home loans. Also weakening was demand for home-secured credit lines.
FHA's Endorsements Solidly Higher
Residential endorsements jumped to the highest level in seven months at the Federal Housing Administration, while commercial real estate activity was the highest in at least four years. Delinquency worsened, however.
Fannie's Financing Off From Year Ago, Income Holds
Quarterly mortgage financing provided by Fannie Mae fell by more than $30 billion from a year earlier, though activity has accelerated from three months earlier. Earnings were little changed.
Business Edges Up Again at Fannie, SF Lates Rise
New business was up for the second consecutive month at Fannie Mae, though just slightly. Residential loan delinquency turned up 2 basis points from a nearly decade low.
CMBS Defaults Sink, Hotel Delinquency Plunges
Servicers of securitized commercial real estate loans issued just prior to the financial crisis have weathered the storm of defaults on maturing loans, as hotel loans led a plunge in delinquency.