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Search resuls for: "Jamie Woodwell"


7 mentions found


☆ Commercial real estate foreclosures have spiked 117% over the past year
  + stars: | 2024-04-18 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +3 min
Commercial foreclosures jumped 117% year-to-date in March, data from ATTOM shows. AdvertisementThe commercial real estate market is still struggling, made all the more clear by the rapid upswing in property foreclosures. Foreclosure activity jumped by 117% year-over-year in March, real estate data provider ATTOM reported on Wednesday. While high, commercial foreclosures are still under a 2014 peak of 889. AdvertisementEarlier this month, Fitch Ratings warned of a rising global contagion risk from commercial real-estate losses.
Persons: —, moratoriums, it's, delinquencies, Jamie Woodwell Organizations: Service, Mortgage Bankers Association, Real, Fitch
☆ The 4% mortgage rate and other sweet offers from lenders hoping to stave off commercial real estate doom
  + stars: | 2024-03-27 | by ( Daniel Geiger | ) www.businessinsider.com   time to read: +8 min
Instead a deal is now being negotiated to trim the size of the property's $240 million mortgage and potentially extend the loan at below-market interest rates in an attempt to revive the property's fortunes. The negotiations show that as hundreds of billions of dollars of commercial real estate debts come due or have already tumbled into default, deals are being arranged behind the scenes to try to stave off financial catastrophe. More borrowers and lenders have sought to buy timeThere is mounting evidence that such negotiations are taking place more widely. There have been concerns that trillions of dollars of upcoming commercial property debt maturities could inflict heavy losses that could weigh on investors and lenders across the property market and even cause systemic issues in the banking sector. The deal is part of a growing number of sales by some lenders to cut down their exposure to commercial real estate.
Persons: Realty, Michael Maturo, we'd, Maturo, Jack Terzi, Terzi, Jamie Woodwell, Stephen Buschbom, Trepp, Alan Todd, David Blumberg, Raymond Boyd, Blumberg, Robert Ivanhoe, Greenberg Traurig, Ivanhoe Organizations: New, Aareal Bank, Business, JTRE Holdings, Mortgage Bankers Association, Treasury Department, Bank of America, 601W Companies, Aon, Aon Center, Federal Reserve Locations: New York, Lower Manhattan, Manhattan, New York City, Chicago
☆ The number of new commercial mortgages plummeted 47% last year
  + stars: | 2024-02-13 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +2 min
Mortgage originations in commercial real estate fell 47% through 2023, Mortgage Bankers Association said. AdvertisementMortgage originations for commercial properties dropped 47% in 2023, the Mortgage Bankers Association reported. The drawdown came as weak confidence bears down on commercial real estate. Despite these obstacles, MBA previously anticipated that commercial mortgage lending would climb into 2024, gaining 29% to an expected volume of $476 billion. Advertisement"2023 is likely to go into the record books as the slowest year for commercial real estate borrowing and lending in roughly a decade," MBA Head of Commercial Real Estate Research Jamie Woodwell said in January's report.
Persons: —, Jamie Woodwell, Woodwell, Morgan Stanley Organizations: Mortgage Bankers Association, Service, Healthcare, Real
☆ Commercial mortgage lending to jump 29% in 2024 after slowest year in a decade, Mortgage Bankers Association says
  + stars: | 2024-01-23 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +3 min
Commercial mortgage borrowing will rise 29% this year, the Mortgage Bankers Association estimates. AdvertisementCommercial and multifamily mortgage borrowing and lending is forecast to surge 29% from last year's estimated total of $444 billion, the Mortgage Bankers Association estimates. "2023 is likely to go into the record books as the slowest year for commercial real estate borrowing and lending in roughly a decade," MBA Head of Commercial Real Estate Research Jamie Woodwell said in the report. AdvertisementTighter monetary policy since 2022 has pushed up borrowing costs across the commercial real estate market, and resulted in stricter lending standards among mortgage originators. Raichura expects prices to drop off another 10% this year, while a December outlook from NBER outlined that total commercial real estate losses could amount to $160 billion.
Persons: —, Jamie Woodwell, Kiran Raichura, Woodwell Organizations: Mortgage, Association, Service, Real, Federal Reserve
☆ Office properties lead surge in commercial real estate delinquency rates
  + stars: | 2024-01-16 | by ( Aruni Soni | ) www.businessinsider.com   time to read: +3 min
Delinquency rates on loans backed by office properties jumped to 6.5% in the fourth quarter, an MBA survey found. Out of all the commercial real estate loan delinquency rates tracked by the survey, office loans led the pack. AdvertisementFinancial troubles continue to plague the office market, which led an increase in commercial real estate loan delinquency rates. Zooming out, the commercial real estate sector has been in a pinch ever since interest rate hikes made borrowing money a lot more expensive. AdvertisementStill, MBA's survey found that while the office market segment of commercial real estate is still wobbling, other slices of the sector are recovering.
Persons: —, multifamily, Jamie Woodwell Organizations: Service, Financial, Mortgage Bankers Association, Capital Economics
☆ Commercial and multifamily mortgage delinquencies rose in the first part of 2023
  + stars: | 2023-06-02 | by ( Anna Bahney | ) edition.cnn.com   time to read: +3 min
Washington, DC CNN —Commercial and multifamily mortgage delinquencies increased in the first quarter of 2023, according to a new report from the Mortgage Bankers Association. “Ongoing stress caused by higher interest rates, uncertainty around property values, and questions about fundamentals in some property markets are beginning to show up in commercial mortgage delinquency rates,” said Jamie Woodwell, MBA’s head of commercial real estate research. Freddie Mac had a delinquency rate of 0.13%, an increase of 0.01 percentage points from the fourth quarter of 2022. Commercial mortgage-backed securities had a delinquency rate of 3%, an increase of 0.10 percentage points from the end of 2022. The FDIC delinquency rates for bank and thrift held mortgages reported here do include loans backed by owner-occupied commercial properties.
Persons: ”, Jamie Woodwell, ” Woodwell, Fannie Mae, Freddie Mac, Banks, thrifts Organizations: DC CNN —, Mortgage, Association, Federal Reserve Locations: Washington
☆ Commercial real estate lending plunged 56% last quarter as 'logjam' of uncertainty clogged the market
  + stars: | 2023-05-10 | by ( Jennifer Sor | ) www.businessinsider.com   time to read: +2 min
Commercial real estate lending more than halved last quarter compared to the prior year. In the first quarter, commercial real estate mortgage loans plunged 56% compared to a year ago, and loans dropped 42% from the fourth quarter. "Uncertainty and volatility in regards to interest rates and property values, and supply demand imbalances for some property types, has led to a logjam in commercial real estate sales and financing markets," MBA's head of commercial real estate research Jamie Woodwell said in a statement. Meanwhile, there's nearly $450 billion in commercial real estate loans that's set to mature in 2023 and will need to be renegotiated. JPMorgan estimated around 20% of commercial real estate loans could default.
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