Finance

Amid the pandemic and led by multifamily lending, mortgage debt outstanding closed 2020 higher than the pre-pandemic levels seen at the end of 2019.

The Trepp CMBS delinquency rate continued to decline in March following an impressive decline in February.

The Trepp CMBS Special Servicing Rate fell 18 basis points month over month in March, the sixth consecutive decline.

After a slight deterioration at the end of 2020, commercial and multifamily mortgage performance improved for the second straight month in February.

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

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.