Multifamily

The size of the decline depends on how bad the economy sinks and if the coronavirus spread is halted.

After receiving a third-party stamp of approval, Fannie Mae announced July 27 completing the latest two issuances of a single-family green mortgage backed security as part of an ongoing program that started in April and expands its long-time multi-family green MBS program.

Nearly 12 million renters could be served with eviction notices in the next four months. And in some cities, like New York and Houston, more than a fifth of renters say they have “no confidence” in their ability to pay next month.

Delinquencies have been ticking up since the start of the coronavirus pandemic and Capital One is warning of more pain unless the government provides additional relief to tenants and landlords.

The Federal Housing Finance Agency will extend the same GSE benchmarks of the past three years into 2021.

While the multifamily loan forbearance rate is lower than the most pessimistic projections, Pat Jackson says borrowers are hardly out of the woods yet.

Multifamily borrowers with loans from Fannie Mae and Freddie Mac will get an extended break for coronavirus-related hardships if they continue to give their tenants relief as well.

Barclays Commercial Mortgage Securities Mortgage Trust 2020-C7 is backed by a pool of 49 fixed-rate loans collateralized by 153 commercial properties – of which 17 loans are tied to multifamily/manufactured housing properties representing 35.4% of the pool balance.

The FHFA looks to shed light on the amount of funds Fannie and Freddie will need to hold for their risk-sharing deals.

Fannie Mae and Freddie Mac have different timelines for the switch.