Finance

MBA is forecasting for commercial and multifamily mortgage bankers to close $486 billion of loans backed by income-producing properties in 2021.

The drop in January can be mainly attributed to a significant reduction in the CMBS special servicing rate of every property type, besides lodging.

The Trepp CMBS Delinquency Rate in January was 7.6 percent, a decline of 23 basis points from the December number.

After two huge jumps in May and June, the rate has now declined for six consecutive months.

In MBA’s third quarter of 2020 Commercial/Multifamily Mortgage Debt Outstanding report, mortgage debt outstanding rose by $57.0 billion.

Continuing a late-year trend, December recorded a decline in the CMBS special servicing rate.

MBA expects commercial and multifamily mortgage bankers to close $395 billion of loans backed by income-producing properties, a 34 percent decline from 2019's record volume of $601 billion.

Compared to last year’s third quarter, commercial and multifamily originations were 47 percent lower.

The level of commercial/multifamily mortgage debt outstanding increased by $43.6 billion (1.2 percent) to $3.76 trillion at the end of the second quarter.

Two recent reports from the Mortgage Bankers Association shed light on COVID-19’s impact on commercial and multifamily real estate.

Last year's $364.4 billion in multifamily lending volume is a 7 percent increase from the previous record set in 2018.

The level of commercial/multifamily mortgage debt outstanding rose by $61.0 billion in the first quarter of 2020, reports MBA’s Jamie Woodwell.