KBRA releases the November 2022 issue of CMBS Trend Watch. U.S. CMBS private label issuance continues to be adversely affected by rising interest rates and a challenging economic landscape. In November, KBRA published pre-sales for seven deals including three conduit, two single-family rental, one Freddie Mac K-Series, and one commercial real estate collateralized loan obligation transaction.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.49 percent. ?Mortgage rates continued to drop this week as optimism grows around the prospect that the Federal Reserve will slow its pace of rate hikes,? said Sam Khater, Freddie Mac?s Chief Economist.
DALLAS, Dec. 1, 2022 NexPoint Residential Trust, Inc. (NXRT) announced today the closing of 18-property mortgage refinancings through KeyBank Real Estate Capital and The Federal Home Loan Mortgage Corporation. Holistically, these refinancings are expected to reduce NXRT's weighted average interest rate on total debt by 12 bps to 5.35%, before the impact of interest rate swap contracts.
The Federal Home Loan Bank of Indianapolis Board of Directors has elected Karen F. Gregerson as Chair of the Board and Robert M. Fisher as Vice Chair of the Board, each for a two-year term beginning Jan. 1, 2023, and ending Dec. 31, 2024. Since 2016, Karen Gregerson has been President and CEO of The Farmers Bank in Frankfort, Ind.
Federal National Mortgage Association (FNMA) : * FANNIE MAE'S GUARANTY BOOK OF BUSINESS INCREASED AT A COMPOUND ANNUALIZED RATE OF 1.2% IN OCTOBER. * CONVENTIONAL SINGLE-FAMILY SERIOUS DELINQUENCY RATE DECREASED 2 BASIS POINTS TO 0.67% IN OCTOBER. * MULTIFAMILY SERIOUS DELINQUENCY RATE INCREASED 1 BASIS POINT TO 0.27% IN OCTOBER.
WASHINGTON, Nov. 30, 2022 Fannie Mae's October 2022 Monthly Summary is now available. Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. Fannie Mae Newsroomhttps://www.fanniemae.com/newsroom.
The baseline conforming loan ceiling for mortgages sponsored by Fannie Mae and Freddie Mac in 2023 will be $726,200, up 12.21%, or $79,000, from 2022, according to a report issued Tuesday by the Federal Housing Finance Agency.What Happened: The federal government will support mortgage loans over $1 million through GSEs for the first time ever.
The baseline conforming loan ceiling for mortgages sponsored by Fannie Mae and Freddie Mac in 2023 will be $726,200, up 12.21%, or $79,000, from 2022, according to a report issued Tuesday by the Federal Housing Finance Agency.What Happened: The federal government will support mortgage loans over $1 million through GSEs for the first time ever.
RREEF Property Trust, Inc., a publicly registered, daily NAV REIT that is advised by DWS through an affiliate, has acquired a 100 percent interest in the Class D Certificate and the related interest-only securities of a fixed rate Freddie Mac Multifamily CMBS Securitization known as FREMF 2021-K150 for a total investment of approximately $30.9 million.
Today, the Federal Home Loan Bank of Pittsburgh announced that Bank of Charles Town received the inaugural 2022 FHLBank Diversity, Equity and Inclusion Membership Award for their Banking On Diversity program. This press release features multimedia.
Greystone, a leading national commercial real estate finance company, has provided an $11,916,000 Fannie Mae Multifamily Affordable Housing loan for the acquisition of a senior living community in Tavares, Florida. Constructed in 2006, Lake Point Senior Apartments in Lake County is a 160-unit, LIHTC, age-restricted, 3-story elevatored apartment complex.
LOS ANGELES, Nov. 29, 2022 The CALIFORNIA ASSOCIATION OF REALTORS? today issued the following statement in response to the Federal Housing Finance Agency's announcement to increase the 2023 conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac to $726,200 on one-unit properties and a cap of $1,089,300 in high-cost areas.
The U.S. Federal Housing Finance Agency said on Tuesday the conforming loan limit values for mortgages to be acquired by Fannie Mae and Freddie Mac in 2023 for one-unit properties will be $726,200 in most of the country. That represents an increase of $79,000 from $647,200 in 2022, FHFA said.
The U.S. Federal Housing Finance Agency said on Tuesday the conforming loan limit values for mortgages to be acquired by Fannie Mae and Freddie Mac in 2023 for one-unit properties will be $726,200 in most of the country. That represents an increase of $79,000 from $647,200 in 2022, FHFA said.
NEW YORK, Nov. 23, 2022 The Federal Home Loan Bank of New York announced today the results of the 2022 election for three positions on the FHLBNY's Board of Directors whose terms will each commence on January 1, 2023.
Freddie Mac today released the results of its Primary Mortgage Market Survey, showing the 30-year fixed-rate mortgage averaged 6.58 percent. ?Mortgage rates continued to tick down heading into the Thanksgiving holiday,? said Sam Khater, Freddie Mac?s Chief Economist.
Freddie Mac today posted to its website its Monthly Volume Summary for October 2022, which provides information on Freddie Mac?s mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities, and other investments. Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders.
Nearly $12.1 million in Affordable Housing Program subsidy will benefit affordable housing development in Kentucky, Ohio, Tennessee and beyond CINCINNATI, Nov. 22, 2022 /PRNewswire/ -- Federal Home Loan Bank of Cincinnati President and CEO Andrew S. Howell announced the winners of 48 Affordable Housing Program grants totaling nearly $12.1 million.
Ecrid, Inc. (ECDD) announces today details on the Company's FHFA Lending Platform. A New Measure of Credit ? The traditional FICO credit score that Fannie Mae and Freddie Mac rely on to approve home buyers will soon be a thing of the past.
-2022 round of grants will support projects that will create, rehabilitate or preserve 1,732 units- NEW YORK, Nov. 21, 2022 /PRNewswire/ -- Jos? R. Gonz?lez, president and CEO of the Federal Home Loan Bank of New York, announced that the FHLBNY has awarded $25.3 million in subsidies to fund 30 affordable housing initiatives throughout New Jersey, New York, Connecticut, Pennsylvania and Texas.
Greystone, a leading national commercial real estate finance company, has provided a $30,406,000 Fannie Mae Delegated Underwriting & Servicing loan to refinance a 206-unit multifamily property in Thornton, CO. The financing was originated by Dale Holzer, Managing Director in Greystone?s Newport Beach, CA office on behalf of Milky Way Apartments, LLC.
KBRA releases its CMBS 2023 Sector Outlook, which highlights key credit trends from 2022 and forecasts U.S. issuance activity for the new year. Lenders and investors have been scrutinizing deals more closely, reducing leverage, increasing pricing, or just moving to the sidelines as interest rates continue to rise.
-The Supreme Court on Monday declined to hear former Royal Bank of Scotland managing director Victor Hong's bid to collect a U.S. government whistleblower award of at least $490 million for reporting alleged misconduct related to the institution's sales of mortgage-backed securities.
NORFOLK, Va., Nov. 21, 2022 ?Harbor Group International, LLC, a privately owned international real estate investment and management firm, today announced that it has completed the $153 million securitization of eight multifamily mortgage loans through Freddie Mac's Q Series Securitization program.
The Federal Home Loan Bank of Indianapolis announced today that $7.24 million in affordable housing grants will be awarded to 17 affordable housing developments in Indiana and Michigan through the Bank?s 2022 Affordable Housing Program.
NEW YORK, Nov. 18, 2022 The Federal Home Loan Bank of New York announced today that Larry E. Thompson has been re-elected by its Board of Directors to serve as the Board's vice chairman for a two-year term commencing January 1, 2023.
Freddie Mac today released its Green MBS Impact Report for 2021, providing transparency under the enterprise?s Single-Family Green Bond Framework. ?Freddie Mac?s sustainability focus strengthens our commitment to our mission and helps us drive long-term value for our stakeholders while making a difference in our communities,? said Freddie Mac?s Mark Hanson, Senior Vice President, Securitization.
Freddie Mac today set Dec. 2, 2022, as the date it intends to publish a one-time historical file reporting Social Index scores for all active and inactive or paid off mortgage-backed securities pools formed since January 2010.
Mortgage rates dropped significantly last week as a result of U.S. Bureau of Labor Statistics statistics that showed?inflation had slowed?in October, which is a boon for potential home buyers. According to Freddie Mac, the 30-year fixed rate average dropped by 47 basis points, from 7.08% to 6.62%, the largest weekly drop since 1981.
Freddie Mac?s?Single-Family business today announced that its Credit Risk Transfer program reported Third Quarter 2022 CRT issuance of approximately $4.7 billion, protecting approximately $136 billion in unpaid principal balance of single-family mortgages.
NEW YORK, Nov. 17, 2022 The Federal Home Loan Bank of New York is pleased to announce that, on November 17, 2022, its Board of Directors approved a dividend for the third quarter of 2022 of 6.75%.? The dollar amount of the dividend will be approximately $87.3 million. The cash dividend will be distributed to member financial institutions on November 18, 2022.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.61 percent. ?Mortgage rates tumbled this week due to incoming data that suggests inflation may have peaked,? said Sam Khater, Freddie Mac?s Chief Economist. Khater added, ?Over the last fifty years, Freddie Mac has closely monitored the trajectory of mortgage rates.
Mr. Blackley Brings Significant Financial Services and Operations Experience to the Board Sallie Mae?, formally SLM Corporation (SLM), today announced the appointment of R. Scott Blackley to its board of directors, effective immediately.
Homeownership continues to be something to strive for among ?Generation Z,? the demographic cohort following Millennials, according to a new survey from Freddie Mac.
New Disclosures to Provide View into Socially Oriented Lending Activities WASHINGTON, Nov. 16, 2022 Fannie Mae today launched new social disclosures, the Social Criteria Share and the Social Density Score, for its Single-Family mortgage-backed securities.
Greystone, a leading national commercial real estate finance company, has provided $39,173,000 in Freddie Mac Optigo? Small Balance Loans to refinance a portfolio of 10 multifamily properties consisting of 287 units located in and around Newark, New Jersey.
Adult & Teen Challenge of Texas Celebrates Grand Opening of Houston Dorm. Frost Bank and the Federal Home Loan Bank of Dallas have awarded a $700,000 Affordable Housing Program subsidy to Adult & Teen Challenge of Texas, which provided the final funding needed to complete a new dormitory for its Houston, Texas, campus. This press release features multimedia.
Cadence Bank (CADE), Citizens National Bank and FHLB Dallas Assist in Ward 2 Renewal Effort Representatives from Cadence Bank (CADE), Citizens National Bank and the Federal Home Loan Bank of Dallas have awarded $18,000 in Partnership Grant Program funding to Twin Forks Rising Community Development Corp.. They celebrated the awards at a ceremonial check presentation in Hattiesburg, Mississippi, recently.
The Federal Home Loan Bank of Indianapolis Board of Directors has announced that it is seeking candidates to fill one vacant independent directorship, with a term that runs through Dec. 31, 2024.
Federal Home Loan Bank of Atlanta today announced its 2022 Affordable Housing Program General Fund awards. For the complete list of 2022 winners, click here. AHP General Funds are awarded annually through a competitive application process.
Greystone, a leading national commercial real estate finance company, has provided a $62,746,000 Fannie Mae Delegated Underwriting & Servicing Green Rewards loan to refinance a 330-unit multifamily property in Lehi, Utah. Constructed in 2020, Lehi Tech is mid-rise apartment community with five elevator buildings that features one- and two-bedroom units.
KBRA is pleased to announce the assignment of preliminary ratings to four classes of FREMF Series 2022-K151 mortgage pass-through certificates and three classes of Freddie-Mac structured pass-through certificates, Series K-151. The underlying transaction is collateralized by 49 fixed-rate multifamily mortgage loans.
KBRA releases its single-borrower CMBS default and loss study update, which reviews the performance of 644 SB deals issued from August 1993 to September 2021?the SB study population?that had at least one year of loan seasoning, with performance tracked through September 2022.
Grant Program Provides 3:1 Match of Members? Contributions. Representatives from BankPlus, Citizens National Bank and the Federal Home Loan Bank of Dallas have awarded $19,140 in Partnership Grant Program matching-grant funding to the Lauderdale County Habitat for Humanity in Mississippi. This press release features multimedia.
Grant Will Assist Sacred Heart Southern Missions Housing Corp. Cadence Bank (CADE) and the Federal Home Loan Bank of Dallas awarded $10,000 in Partnership Grant Program funding to Sacred Heart Southern Missions Housing Corp. today during a ceremonial check presentation in Walls, Mississippi. This press release features multimedia.
Freddie Mac today published its 2023 funding calendar, which provides optional announcement dates for Reference Notes? securities and Reference Bills? securities.
Christmas in April Grenada Repairs Homes for the Elderly, Disabled and Families with Children Cadence Bank (CADE) and Federal Home Loan Bank of Dallas representatives awarded $6,000 in Partnership Grant Program funding to Christmas in April Grenada during a ceremonial check presentation today. This press release features multimedia.
Freddie Mac Multifamily?s loan purchase cap for 2023 will be $75 billion. ?The loan purchase cap and new mission-driven requirements will shape how we approach the multifamily market in the year ahead,? said Kevin Palmer, head of Multifamily for Freddie Mac. FHFA defines its mission-driven requirements in Appendix A of its Scorecard.
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