Daily market intelligence on mortgages, equity raising, investment sales, and CMBS.

Thursday, 15 February 2018

Lenders Saw 15 Percent Hike in Originations in 2017; Volumes Seen Dropping 3 Percent

Commercial mortgage lenders enjoyed a 15 percent increase in origination volumes last year, according to a survey by the Mortgage Bankers Association, which estimated that volumes reached $566 billion. It expects lending volumes to decline by 3 percent this year, as a result of higher interest rates and a small universe of maturities.

Commercial Real Estate Direct Staff Report

Commercial mortgage lenders enjoyed a 15 percent increase in origination volumes last year, according to a survey by the Mortgage Bankers Association, which estimated that volumes reached $566 billion.

Lending against every property type - except for retail - was up, with hotels leading the way with a 26 percent increase. Lending against industrial properties was up 22 percent; for apartments it was up by 17 percent; for offices it was up 12 percent, and for health-care properties it was up 9 percent. Lending against retail properties declined by 21 percent.

CMBS lenders led the way, meanwhile, with a 43 percent increase in volumes, while the housing-finance agencies - Freddie Mac and Fannie Mae - saw their volumes climb by 23 percent....





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Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

REITCafe

  • Challenging Retail Environment Weights on REITs
    Mixed economic news is weighing on retail markets, pushing REIT performance down in 2015. This week, the National Retail Federation announced that back-to-school spending is expected to be down 9.3% in 2015. This news came on the heels of a report from the Commerce Department stating that retail sales declined 0.3%...
     
  • US REITs Feeling Effects from Turmoil in Greece and China
    International economic forces have taken center stage this week, affecting both US stock markets and REITs. The crash in the Chinese stock market and ongoing concerns about the future of Greece in the eurozone drove markets down during the first half of the week. REITs fared better than the overall market...

  • What Does Increased Construction Mean for Apartment REITs?
    REITs so far this year have raised $17.1 billion of capital through the sale of unsecured notes, bringing the total raised over the past two and a half years to just more than $75 billion. That’s more than they raised during the previous five years. The massive volume shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark...
shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark against which most REIT’s price their bonds
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