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Volume 16 | Issue 26 | Thursday, June 28, 2018

The Lede


Commercial/Multifamily Mortgage Debt Outstanding Posts Largest Q1 Increase Since Before Great Recession

Commercial/multifamily mortgage debt outstanding increased by $44.3 billion in the first quarter as all four major investor groups increased their holdings, the Mortgage Bankers Association reported this morning.


Top National News

Commercial/Multifamily Mortgage Debt at $3.21T in Q1

Naional Mortgage Professional, June 26, 2018--Phil Hall
Commercial/multifamily mortgage debt outstanding rose by by $44.3 billion in the first quarter, according to new data from the Mortgage Bankers Association.

Fannie Mae Experts: How to Address Rising Rents for Moderate-Income Households

HousingWire, June 27, 2018--Bob Simpson, Tanya Zahalak
One thing is clear: The recent affordability issues that have arisen for moderate income renters is symptomatic of larger underlying problems. And in order to resolve those issues, we need to ensure that we are focusing resources where the underlying problems exist.

White House Pushes Surprise Fannie-Freddie Reform Plan, But is it Workable?

National Mortgage News, June 21, 2018--Joe Adler, Hannah Lang (subscription)
The Trump administration proposed Thursday to rip off the Band-Aid from Fannie Mae and Freddie Mac, ending conservatorship of the mortgage giants and leaving them to raise their own capital in the private market. But the plan raises a whole host of questions and left many wondering whether it could advance.

Should CRE Players Return to Defensive Investing?

National Real Estate Investor, June 26, 2018--David Lynn
The author sugsests we are beginning a period where commercial real estate investors should be cautious and shift to less risky strategies that are less sensitive to downturns and recessionary periods.

U.S. Rental Rates Flatten in Major Cities as Supply Floods Market

Wall Street Journal, June 27, 2018--Laura Kusisto (subscription)
The U.S. apartment market suffered its worst spring since 2010, near the depths of the housing crisis, as a flood of new supply and weakening demand resulted in rising vacancy rates and little or no rent increases in many major cities.

Manhattan Home Inventory Surges, But Buyers Aren't Interested

Bloomberg, June 21, 2018--Oshrat Carmiel (subscription)
If you're a homebuyer in Manhattan, your life just got easier. For sellers, it's another story.

News and Trends

CREF Highlights

Commercial and multifamily developments and activities from MBA relevant to your business and our industry.

Trump Administration Proposes to End GSE Conservatorship, Privatize Fannie Mae, Freddie Mac

The Trump Administration issued a massive government reorganization proposal that would end the federal government's conservatorship of the government-sponsored enterprises and privatize Fannie Mae and Freddie Mac.

The Big Apple's Lending Landscape Evolves

New York City's lending landscape has shifted "significantly" compared to last year, reported Credifi, New York.

Competition for Staff 'Invigorates' Office Space Demand

The expanding job market should have positive effects on the office sector, and might even rejuvenate retail, two reports said.

CMBS Loss Severities Drop, Resolutions Shorten

U.S. commercial mortgage-backed securities loan loss severities dropped last year despite a backlog of maturing loans from the 2007 vintage, reported Fitch Ratings, New York.

Multifamily Worries Mount as Cycle Ages

The multifamily market remains healthy despite increasing worries including an aging economic cycle, growing supply, decelerating rent gains and increasing interest rates, said Yardi Matrix, Santa Barbara, Calif.

Commercial/Multifamily Briefs

RealPage, Richardson, Texas, launched RealPage Underwriting Analytics to deliver artificial-intelligence-driven analysis of asset value designed to reduce investment risk and accelerate deal flow.

People in the News

Walker & Dunlop Adds Gilmore

Walker & Dunlop, Bethesda, Md., hired John Gilmore IV as Senior Vice President and Managing Director in its Multifamily Finance group.

Dealmaker of the Week

JLL Secures $284M for Condos, Office

JLL Capital Markets, Chicago, raised $251 million in equity and debt to allow CBSK Ironstate, New York, to develop a luxury condominium in Manhattan's Hell's Kitchen neighborhood.

MBA News

Public Comments Sought: Revised MBA Standard Property Inspection Form

The Mortgage Bankers Association released for public comment a revision to its Standard Property Inspection Form.

Earn Your Chartered Realty Investor Designation

The Chartered Realty Investor designation is the only designation that brings together all aspects of the commercial real estate finance, investment and advisory industries. Earning the CRI designation distinguishes you as a leader in your industry and signifies your commitment to professional excellence and ethical conduct.

CREF Market Intelligence Symposium in New York July 11-12

The Mortgage Bankers Association CREF Market Intelligence Symposium cuts through the clutter to provide hard facts about the state of commercial real estate markets--what we do and don't know.

About MBA Newslink

President and CEO: Robert Broeksmit, CMB

Publisher: Marcia Davies, Chief Operating Officer

Vice President of Public Affairs: John Mechem

Editor: Mike Sorohan 202/557-2855 

Editorial Director: Michael Tucker 202/557-2851 

Senior Editorial/Advertising Specialist: Lesley Hall 202/557-2856

Advertising Opportunities: Bill Farmakis 203/834-8832

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