Commercial Mortgages Outstanding Decline
The level of outstanding commercial mortgage debt declined in the third quarter, according to a new report. But Fannie Mae, Freddie Mac and finance companies actually increased their holdings.
Obama Nominates HUD Secretary
President-elect Barack Obama has named a former commercial mortgage executive as his choice to head the U.S. Department of Housing and Urban Development. It's the second time around at HUD for the nominee.
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Commercial Delinquency Worsens
Delinquency increased on commercial mortgages held by banks, life insurers and securitizations. But at least one government sponsored enterprise saw late payments on its commercial loans improve.
Portfolio Trading
Eight residential and commercial mortgage portfolios for $1.6 billion that were recently traded or offered were tracked by MortgageDaily.com. Ginnie Mae announced several updates, including an Internet-based payment system.
CMBS Originations Spike
Driven by a big decline in conduit activity, hotel production and financing for office properties -- commercial mortgage originations were down by more than half from a year ago. But conduit activity saw a spike from the second quarter, while retail activity is heating up.
Commercial Originations Tumble 58% at Pittsburgh Firm
Quarterly commercial mortgage production at a Pittsburgh-based company has fallen by nearly $7 billion.
Volatile Banking Sector Reshapes
As capital continued to be wiped out and dozens of small banks were hit with regulatory orders, some financial institutions have been approved to participate in the government's capital purchase plan. One mortgage company is shedding its real estate investment trust status, another is shutting down its commercial operations and a third will be acquired by a bank.
SBA Program Enables Easy, High-LTV Commercial Mortgage
Many banks today are terrified of making conventional commercial real estate loans. They are afraid of losing money.
Multifamily Business Holds Up
Despite a decline in residential originations last year, multifamily production saw an increase. Meanwhile, the recent failure and potential acquisition of the two biggest multifamily lenders is creating a new world order in apartment lending.
