Commercial/Multifamily Roundup |
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Article Abstracts |
Statistical Spotlight |
Moody's Releases Sweep Results
Moody's Investors Service, New York, said it would begin a ratings sweep of CRE CDOs in March with a release of its results in April.
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CRE Charge-Offs Continue
Commercial real estate charge-offs increased as unemployment directly followed suit during the fourth quarter and into January, indicating banks will continue writing off loans.
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CRE Values Drop at Record Rates, MIT Study Says
Sale prices on commercial property deals sold by major institutional investors set two records in the fourth quarter last year: they dropped by more than 10 percent for the quarter and more than 15 percent for the year, said the MIT Center for Real Estate.
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Commercial/Multifamily Roundup |
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Industry Commentary |
CMBS Faces Structural Change for Investor Confidence
The commercial mortgage-backed securities model and structure will need some overhaul, some regulatory oversight and some "tweaking" before investor confidence returns to the CMBS market, said Constantine Korologos, managing director at Deloitte Financial Advisory Services LLP, New York.
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Small or Large, Bank Liquidity Remains Dry
Midwest regional banks find industrial properties and commercial real estate development more risky and deposits more lucrative as liquidity from large or small banks struggles to make its way into borrower hands.
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Q/A with Tim Mazzetti of Cohen Financial
Tim Mazzetti, partner and executive vice president of Cohen Financial, Chicago, spoke with MBA Commercial/Multifamily NewsLink at the Mortgage Bankers Association Commercial Real Estate Finance/Multifamily Housing Convention & Expo in San Diego about the new role of the mortgage banker, the role servicing plays during the credit crunch and an industry on the cusp of change.
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QuoteLink
"Commercial and multifamily mortgage lending slowed to a trickle in the fourth quarter. Origination levels in the fourth quarter were 80 percent below last year's fourth quarter, and originations for all of 2008 were down approximately 60 percent from 2007 levels. Between the worsening economy and the continued credit crunch, lenders are extremely cautious about lending and borrowers are likely to hold onto the assets and the loans they already have."
--Jamie Woodwell, vice president of commercial research at the Mortgage Bankers Association.
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StatLink
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