Industries

The effort to raise the threshold for transactions excused from appraisal requirements responds to concerns that the current threshold is outpaced by real estate prices.

High property values and low mortgage rates pushed commercial and multifamily originations beyond their projected totals in 2017 to a new market peak, according to the Mortgage Bankers Association.

The House of Representatives passed two bills that would tie appraisal waivers for Small Business Administration loans to bank rules for commercial real estate loans, despite objections from the Appraisal Institute about its members being cut out of transactions.

The changes mandated by the recent regulatory relief law would narrow the definition of "high-volatility commercial real estate" exposures that get a higher risk weight.

LoanDepot's CEO Anthony Hsieh delivered a bracing message to mortgage lenders on Monday — strong new competitors are coming into this market, so they need to expand their offerings.

Commercial mortgage-backed securities delinquency rates are likely to continue to decrease for the rest of the year, as new issuances outpace maturing loans and precrisis loans continued to get resolved by special servicers, Fitch Ratings said.

Unusually for a debut transaction, the $329.7 million M360 2018-CRE1 will be actively managed: For the first 12 months after the closing date, funds from repaid principal can be used to purchase new loans, subject to eligibility criteria.

The $109.3 million CLEAN 2018-1 is also the first deal to be marketed as a Rule 144A transaction under securities regulation making it available to wide base of institutional investors.

Commercial and multifamily mortgage debt outstanding grew $44.3 billion during the first three months of 2018, the largest first-quarter gain since before the Great Recession, according to the Mortgage Bankers Association.

Commercial real estate is their bread and butter, but many banks are scaling back in this vital loan category. Here’s why.

The Dallas auto lender might lose as much as one-third of its business if it severs ties with the automaker, raising fresh questions about whether its parent company will buy out shareholders and take full ownership.

There are almost 7 million coastal homes facing more than $1.6 trillion in potential storm-surge reconstruction expenses this year, representing a 6.6% cost increase from last year's hurricane season.

A continued "oversupply" of CLO deals, along with expectations for new debut or returning managers in the absence of risk-retention requirements, is expected to keep activity flowing.

The commercial real estate lender, which is controlled by Canadian and Singapore sovereign wealth funds, included some unusual features in the deal, such as a two-year revolving period.

Stabilizing farm incomes are expected to help boost the performance of the sponsor's managed portfolio, which experienced a rise in 2015-2017 delinquencies, as well, according to ratings agency reports.

The increase in the delinquency rate for securitized CRE loans for March ended an eight-month streak of declines.

The transaction fills out the original available $7 billion capacity of the Sprint Spectrum trust program, which markets notes backed by the sale-leaseback receivables from Sprint's portfolio of spectrum licenses.

The deal is backed by an unusually concentrated portfolio of just 19 loans on properties being rehabbed or converted to a new use; by property type, the biggest exposure is to hospitality, at 19.7%.

Credit standards for commercial loans to medium and large firms showed some signs of easing over the last three months of 2017, even though demand stayed relatively unchanged.

Moody's considers the $932.4 million TPG Real Estate Finance Trust 2018-1 to be highly leveraged, though not as highly leveraged as Blackstone's inaugural transaction.