Commercial mortgages

Add continued growth in commercial and multifamily mortgage debt outstanding to the list of things that the economic fallout from the coronavirus might affect.

Any impact from the coronavirus outbreak on commercial and multifamily loan delinquencies won't be known for some time, the Mortgage Bankers Association said.

Black Knight introduced a model to gauge prepayment speeds and credit risk for investors that purchase commercial mortgage-backed securities.

The delinquency rate for commercial mortgage-backed securities ended 2019 at its lowest point in nearly 11 years, aided by increased issuance and the resolution of legacy transactions, Fitch Ratings said.

GameStop's plan to shutter up to 200 stores could adversely affect commercial mortgage-backed securities loans with a combined allocated property balance of almost $42 million, according to Morningstar Credit Ratings.

The commercial mortgage-backed securities sector will weather the fourth quarter's slowing but steady growth in the U.S. economy, as better loan performance counters a continued decline in volume, Morningstar said.

Rising demand and plummeting mortgage rates pushed multifamily origination dollar volume above 2017's record to a new peak, according to the Mortgage Bankers Association.

Behind strong job markets, the shortage in housing supply and more millennials moving out, 2019 projects to be a record year for multifamily originations.

The incentives are stronger than ever to work toward standardizing the documentation, language and process for loans in commercial mortgage-backed securities to be combined with PACE financing.

Life insurance companies increased their mortgage investments to levels higher than historical norms, creating more potential danger for their portfolios in the event of a real estate downturn, a Fitch Ratings report said.

The CFPB is giving trade groups and consumer advocates another three months to comment on its proposal to change what data is collected under the Home Mortgage Disclosure Act.

Commercial and multifamily mortgage lenders need to figure out their plan for replacing the London interbank offered rate index potentially expiring at the end of 2021.

The sponsor acquired the buildings over the past 12 years; now it has obtained a mortgage on each from JPMorgan Chase for a total of $174 million.

The $687 million XAN 2019-RSO7 has 36 months to fund additional lending against properties in the collateral pool, six months longer than a 2018 transaction.

Commercial and multifamily mortgage debt outstanding grew 6.8% in 2018, benefiting from strong employment numbers and strained inventory, according to the Mortgage Bankers Association.

Expect even more actively managed CRE CLOs to be issued this year as investors get more comfortable with the idea of managers using proceeds from the repayment of collateral to acquire new bridge loan.

Freddie Mac issued its first non-low-income housing tax credit forward commitment, providing financing for an affordable housing development in Minnesota.

The Property Assessed Clean Energy sector is getting a boost from the expansion of improvements eligible to be financed via tax assessments, including fire resiliency and total building renovations, according to DBRS.

Both the $646M UBS 2018-C15 and the $796M MSC 2018-H4 deals have relatively low leverage, helped by the inclusion of loans with investment grade characteristics.

A joint venture between the REIT and two Chinese investors obtained a $364 million five-year, fixed-rate loan on the portfolio from Column Financial.