With $429.1 billion in U.S. master and primary servicing as of December 31, 2012, Wells Fargo remains at the top of the commercial and multifamily mortgage servicers ranking released by the Mortgage Bankers Association at the MBA’s CREF/Multifamily Housing Convention & Expo in San Diego.
[11:30 a.m.] We’re done…
[11:25 a.m.] Large servicers have done a great job of driving technology. Leads to efficiency. Smaller companies that focus on value add side, focus can be on making sure that more customized servicer, other than just driving cost, are provided.
[11:20 a.m.] Send your questions for this panel to firstname.lastname@example.org Read More
CREFC January Conference
The Mortgage Observer is heading South, for the CRE Finance Council’s January Conference–held this coming Monday through Wednesday in Miami, Fla. The event is being held at the Loews Miami Beach Hotel and promises to be full of vital information for those involved in commercial real estate debt. We’ll be covering the entire conference, meeting with insiders to hear the buzz and running over to our exclusive cocktail event Tuesday evening at STK Miami.
Anyone who follows the CMBS market, especially in relation to its contribution toward funding the massive amount of commercial real estate loans coming due the rest of 2012, knows that it can be a topsy-turvy ride. But experts tell The Mortgage Observer that despite the load of coming-due loans and a CMBS market that’s a fraction of where it was pre-crash, there’s no reason to panic. This, even as delinquency rates for CMBS climb higher and higher.
According to data from Trepp, initially there was roughly $70 billion in CMBS set to mature in 2012. As of the end of August, $38.6 billion of that was still outstanding, though this figure “is somewhat skewed by loans past their maturity dates but not modified,” one analyst said. These loans will likely meet differing ends, through extensions, modifications or liquidations. Just counting loans that are current, $13.5 billion is due to mature for the rest of the 2012.