Tag Archives: CMBS

The Mortgage Bankers Association (MBA) released over the weekend its year-end ranking of commercial and multifamily servicers' volumes--and once again, Wells Fargo topped the list. According to MBA's numbers, Wells Fargo took the No. 1 spot with $434.4 billion in dollar volume and 33,354 in loan volume. Following it were PNC Real Estate ($369.6 billion, up from $337.6 billion the previous year) and Berkadia Commercial Mortgage ($235.4 billion, up from $197.3 billion).

Commercial real estate (CRE) loan prices in the secondary market were largely flat in November, according to the latest report from DebtX, a loan sale advisor for commercial, consumer, and specialty finance debt. The estimated price of whole loans increased to 92.7 percent as of November 30, rising from 92.3 percent the prior month. Loan values were 89.4 percent. Meanwhile, DebtX's Loan Liquidity Index was 107.5, up from 105.7 in October.

According to a release, Freddie Mac issued a record $28 billion in multifamily securities in 2013 through 19 of its K-Deals. Those figures are up from $21.2 billion through 17 K-Deals in 2012.

Freddie Mac announced its multifamily division has received an initial commercial mortgage-backed securities (CMBS) master servicer rating of CMS2 from Fitch Ratings--the highest initial rating ever assigned by Fitch for a master servicer.

Measuring the prices of loans sold through its platform, Boston-based DebtX? found commercial real estate (CRE) loan prices rose over the year in 2012 but ended the year with little change in December.

Commercial and multifamily originations increased 24 percent from 2011 to 2012, according to the Mortgage Bankers Association.

Outstanding commercial/multifamily debt increased in the third quarter, marking a full year of quarterly increases, according to the Mortgage Bankers Association (MBA). In dollar volume, commercial/multifamily mortgage debt rose $6.6 billion over the quarter, bringing the national total to $2.38 trillion. The greatest third-quarter increase in commercial/multifamily debt was seen in agency and GSE portfolios and mortgage-backed securities, a sector that reported an increase of $9.4 billion.

Fitch Ratings recognized the strength of Freddie Mac's multifamily business, giving the GSE an initial CMBS special servicer rating of CSS2.

The delinquency rate on U.S. commercial real estate loans saw its biggest drop in more than a year in October.

The cumulative default rate for commercial mortgage-backed securities (CMBS) in the U.S. rose over the third quarter, largely due to an increase in defaults among office loans, according to the latest data from Fitch Ratings. The rate rose from 13.2 percent in the second quarter of this year to 13.5 percent in the third quarter, according to Fitch. Office loans made up more than half of both newly defaulted loans in the third quarter and year-to-date defaults, according to the ratings agency.