Multifamily

Bridge REIT LLC is sponsoring a securitization backed mostly by transitional and rehab multifamily properties via Wells Fargo.

The latest deal, WFCM 2019-C54, involves 44 loans secured by 88 properties, with a heavy exposure to office (32%), multifamily (21.1%) and retail (17.9%) properties.

The Federal Housing Financial Agency's latest report on credit risk transfers shows Fannie Mae continues to slowly improve a multifamily mortgage risk-sharing metric that lags Freddie Mac's by a wide margin.

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.

The Federal Housing Finance Agency is revising the multifamily loan purchase caps for the mortgage giants Fannie Mae and Freddie Mac to increase affordable housing.

While delinquent loans in commercial mortgage-backed securities continued trending downward overall, there was an uptick in the rate for more recent originations, a Standard & Poor's report noted.

All of the loans were originated by Greystone, an investment group based in New York that originated multifamily and health care facility loans for Fannie Mae, Freddie Mac, the FHA and various commercial mortgage-backed securities.

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 Delaware company, best known for issuing prepaid cards, has ramped up commercial real estate securitizations. The shift promises to deliver big fees, but it could also cause headaches if defaults spike.

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.