Megan Booth has been promoted to VP of Commercial/Multifamily Policy for the Mortgage Bankers Association. In her new position, Booth will spearhead the development and execution of policy objectives and goals, while leading federal and state regulatory issues pertaining to commercial real estate finance. “Megan is a recognized policy expert who consistently delivers for MBA…
The Mortgage Bankers Association promoted longtime employee Jamie Woodwell to SVP of Commercial/Multifamily Policy and Strategic Industry Engagement. Woodwell, a CRE expert, has worked with MBA for twenty years. He most recently served as VP and Head of Commercial Real Estate Research In his new role, he will oversee MBA’s public policy and member engagement…
Commercial and multifamily mortgage debt increased in Q3 2024 thanks to a boom in multifamily construction. The Mortgage Bankers Association’s Commercial/Multifamily Mortgage Debt Outstanding quarterly report showed debt rising by $47.7 billion (1%). That puts total debt in these categories at $4.75 trillion. Multifamily drove the push with a 1.4% bump, up $29.8 billion to…
By KIMBERLEY HAAS Programs that support ownership of multifamily properties are estimated to make up almost 30% of homebuyer assistance offerings and that may present unique opportunities in markets strapped for inventory. According to the Down Payment Resource’s Homeownership Program Index, 33 new programs supporting multifamily homebuyers and builders were added in Q4 2022. Multifamily…
Multifamily saw a stunning reversal in the fourth quarter of 2022 as apartment supply finally surpassed demand, creating a “swift and unprecedented” downturn. A new report from Apartments.com found that multifamily fundamentals declined in Q4, driven largely by limited absorption and supply/demand imbalances. “We ended the year with absorption barely remaining positive and vacancy rates…
Rent growth decelerated for the fifth straight month, but renters in lower-priced units are still feeling the squeeze as homeownership remains out of reach for most Americans. Single-family rents increased only 10.2% YOY in September, down from 13.9% in April 2022, according to recent data from CoreLogic. This is still double the pre-pandemic growth rate,…
Freddie Mac Multifamily has promoted two new underwriting vice presidents, the GSE announced in a press release. Caitlin Myhre has been promoted to vice president, Risk Distribution & Credit, where she will also oversee underwriting for structured offerings. She has worked for Freddie Mac since 2010, serving in multiple underwriting positions. In 2018, she left…
Ian Ouwerkerk has been named Freddie Mac Multifamily’s SVP of Underwriting and Credit, the GSE announced in a press release. He has served as interim SVP since Q1 2022. Ouwerkerk joined Freddie Mac in 2008. He previously served as VP of Multifamily underwriting and senior director of underwriting for the Southeastern region. As VP of…
Investment opportunities in multifamily housing slipped in Q1 2022, with the Freddie Mac Multifamily Apartment Investment Market Index (AIMI) falling by 4.8% from Q4 2021 and 2.4% year-over-year. AIMI analyzes multifamily rental income growth, property price growth, and mortgage rates to measure multifamily market investment conditions. A decline such as this indicates that attractive investment…
Commercial and multifamily delinquencies fell in Q1 2022, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report. MBA looked at commercial/multifamily delinquency rates for five of the largest investor groups: commercial banks and thrifts, commercial mortgage-backed securities (CMBS), life insurance companies, and Fannie Mae and Freddie Mac. These groups hold more than 80% of…
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