Multifamily

The agency will allow an additional three months of forbearance for multifamily property loans backed by Fannie Mae and Freddie Mac, as long as tenant protections are offered.

The company purchased $1.1 trillion of single-family mortgages and $83 billion of multifamily loans during 2020.

The Biden administration could encourage the FHFA to increase the caps or restore exclusions for certain types of loans, which would boost overall volumes.

Declining month-over-month delinquency levels and the rollout of COVID-19 vaccinations potentially give hope to more normalized economic activity.

Deals, trends and research in structured finance and asset-backed securities for the week of Jan.7-14

Fitch and Trepp reported that overall commercial mortgage-backed security delinquencies were down, while the MBA reported a slight increase.

A real estate firm focused on gentrifying neighborhoods is showing cracks after a group of its apartment buildings in New York’s Upper West Side and Harlem filed for bankruptcy.

Recipients can’t charge penalties for, or engage in, evictions solely for nonpayment, must provide a written notice of tenant rights, flexibility in repayment and, where applicable, 30-day vacate notices.

But late payments for all other investor types rose compared with the second quarter.

The center’s annual study shows the extent to which larger multi-unit properties are insulated from distress.

The deal is among the largest Freddie Mac has on its fourth-quarter K-Deal platform issuance calendar.

The ballot measure, which would allow local jurisdictions to expand rent control, had concerned mortgage companies who worried the law would result in a patchwork of different policies that could complicate underwriting and discourage lending.

And an uptick from second-quarter numbers is attributed to seasonality rather than any upswing in the economy.

Lenders pushed back against the notion that city dwellers' pandemic-driven flight to suburbia would hurt them. They say fewer landlords have sought deferrals as vacancy rates remain low and rent collections have stabilized.

A total of 34 states have offered coronavirus-related rental or mortgage assistance, much of which is funded by the CARES Act, according to the National Council of State Housing Agencies.

Three nonprofits look to create or preserve 10,000 units, vowing to fight off firms like Blackstone and Colony Capital, which bought up foreclosed homes after Great Recession.

Overall debt outstanding for delinquent commercial and multifamily mortgages cut down in September as more of the economy opens further with lodging and retail far behind, according to the Mortgage Bankers Association.

Student housing and assisted/independent living centers were small portions of Freddie's multifamily securitizations prior to COVID, but Kroll noticed they've been missing in most rated deals since spring.

Gov. Andrew M. Cuomo on Monday announced he will extend the eviction moratorium — set to expire Oct. 1 — to next year, continuing protections for tenants as well as homeowners who have been unable to pay rent and mortgage during the public health crisis.

Home starts fell more than forecast in August, reflecting less construction of apartments and a decline in the tropical storm-hit South, representing a pause in momentum for a housing market that's been a key source of fuel for the economy.