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Volume 17 | Issue 24 | Thursday, June 13, 2019

The Lede


Commercial/Multifamily Mortgage Debt Outstanding Approaches $3.5 Trillion

Commercial/multifamily mortgage debt outstanding rose by 1.3 percent ($45.4 billion) in the first quarter, the Mortgage Bankers Association reported.


Top National News

MBA Awards $90,000-Plus in Path to Diversity Scholarships

National Mortgage Professional, June 11, 2019
The Mortgage Bankers Association scholarships recognize existing industry professionals from MBA member companies who are seeking to advance their careers through MBA Education programs and courses.

MBA Joins Housing Coalition to Address CFPB's Proposed Regulation Change on Data Collection

Mortgage Media, June 12, 2019
The Mortgage Bankers Association and other groups commented to the Consumer Financial Protection Bureau about the bureau's plan to change data collection regulations under the Home Mortgage Disclosure Act, including its effect on commercial and multifamily loans. MBA Vice President of Commercial Real Estate Finance Bruce Oliver talked with Mortgage Media about the coalition's efforts and discussed MBA's position on the 2015 HMDA rule on data collecting.

Growth of Multifamily, CRE Loan Debt Shows Strong Interest in Sector

National Mortgage News, June 12, 2019--Paul Centopani (subscription)
Commercial and multifamily mortgage debt outstanding grew 1.3% in in the first quarter of 2019, aided by low mortgage rates and the steady incline of property values, according to the Mortgage Bankers Association.

Freddie Mac Targeting ESG Investors With Green Mortgage Bonds

Bloomberg, June 10, 2019--Adam Tempkin
Freddie Mac is making its first foray into green bonds, starting a new commercial mortgage-backed security program backed by loans to apartment building owners who agree to make their properties more environmentally friendly.

Can Fannie, Freddie Be Overhauled Without Congress?

National Mortgage News, June 7, 2019--Hannah Lang (subscription)
The Trump administration has said it welcomes legislative reform to fundamentally restructure Fannie Mae and Freddie Mac. But the Federal Housing Finance Agency has also made clear that it stands willing to do the heavy lifting itself.

Why Tier 2 Cities Have Real Estate Buyers' Attention

Forbes, June 7, 2019--Evan Gentry
Commercial real estate opportunities are flourishing outside of the largest U.S. metros. Investors exploring Memphis, Phoenix or Salt Lake City, among other cities in the Tier 2 real estate market, can earn strong returns by developing or purchasing and repositioning older properties.

Dealmaker of the Week

Newmark Realty Capital Arranges $76M

Newmark Realty Capital, San Francisco, arranged $75.6 million in permanent and construction financing for Washington retail and industrial assets.

People in the News

MetLife Investment Management Names Ruggiero Head of Client Solutions

MetLife Investment Management, Whippany, N.J., MetLife's institutional asset management business, announced Adam Ruggiero will lead a newly created client solutions and product specialist team within real estate.

News and Trends

MBA, Trade Groups Urge CFPB to Raise HMDA Reporting Threshold

The Mortgage Bankers Association and a half-dozen other industry trade groups urged the Consumer Financial Protection Bureau to increase the threshold for reporting Home Mortgage Disclosure Act data on closed-end mortgage loans.

1Q Commercial, Multifamily Mortgage Delinquencies At Record Lows

Commercial and multifamily mortgage delinquencies fell to near-record lows in the first quarter, the Mortgage Bankers Association reported.

MBA Chart of the Week: Transition from LIBOR

The vast majority of commercial and multifamily mortgage lenders report they are working on the transition away from LIBOR, but the devil is in the details. Most firms are already taking steps, but they also report relying on regulators and industry bodies to make decisions before they take certain actions.

Office Performance Mixed Amid Uneven Growth Distribution

The U.S. economic expansion could soon become the longest in history, but that growth is unevenly distributed, which means different office markets perform very differently, reported Cushman & Wakefield, New York.

Learning from CMBS Losses

One of the few positive implications of incurring losses on 12,000-plus loans is that one can extract some lessons about commercial real estate lending from the experience, said Brian Olasov, Executive Director with Carlton Fields, New York.

Affordable Housing Challenges Increase

Housing affordability remains a big problem in many metros, especially those with robust rent growth over the past few years, reported Reis, New York.

MBA News

MBA Education Opportunity Zone Webinar June 19: A Guide to Evolving Program Rules

The Treasury Department recently issued Qualified Opportunity Zone program regulations. Join MBA Education and members of Ballard Spahr's Qualified Opportunity Zone team to dive into how this new set of regulations will affect investments in real estate and operating businesses located in QOZs.

CREF Market Intelligence Symposium in New York July 10-11

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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