HFF Business Sinks
Despite a quarterly uptick in business, commercial real estate financing at HFF Inc. was down by more than half last year. The company sees weak fundamentals in the commercial real estate market continuing for up to another two years.
Uptick In Commercial Mortgage Values
Despite weaker commercial real estate markets, commercial mortgage prices in the secondary market recently improved.
Fannie Performance Sinks
Monthly purchases sank, delinquency delved further into record territory and losses skyrocketed at the Federal National Mortgage Association. Multifamily delinquency improved, though.
FDIC Warns About Continued CRE Losses
In testimony before Congress, the vice chairman of the Federal Deposit Insurance Corporation warned that commercial mortgages will continue to plague financial institutions for "the next several quarters."
15-Year Loans Far Outperform 30-Year at Freddie
New business activity slid and delinquency worsened at the Federal Home Loan Mortgage Corp. The secondary lender is seeing the biggest problems on mortgages originated in 2006 and 2007 -- with the level of late payments on those two vintages riding around twice as high as other vintages. But less than 2 percent of borrowers with 15-year loans -- regardless of vintage -- are delinquent. Meanwhile, multifamily delinquency was unchanged.
90-Day Delinquency Jumps at Banks
ueled by a 64 basis point jump in 90-day delinquency, late payments on residential loans rose at U.S. financial institutions. Late payments also increased on commercial mortgages. Earnings, however, improved.
FHA Bulletin
Appraisal management companies say their clients are prepared for changes to the appraisal process on loans insured by the Federal Housing Administration. Recent updates to FHA guidelines impact recently sold properties, mortgage insurance premiums and multifamily financing. In other FHA news, a growing New England lender touted its new Full Eagle designation.
Conferences Cover Array of Issues
Topics covered at several upcoming and recent mortgage-related conferences include short sales, construction lending and commercial mortgages. A net branch operation based out of New Mexico recently held an annual conference for its branch managers and some of their Realtor customers. Nearly 50 events are scheduled between February and April.
Commercial Mortgage Originations Stronger
Quarterly production of loans secured by commercial real estate increased on a quarterly and annual basis. Among lenders, commercial banks led the rise, while the biggest increases were seen among loans secured by health-care properties.
