Foreclosure rates in the greater Miami area remain astonishingly high, but they’re headed in the right direction. In March, 13....
A debate is stirring in Michigan over legislation that aims to shorten the redemption period for homeowners in foreclosure, The...
The number of commercial mortgage-backed securities loans paying off on their scheduled maturity date edged higher in January, Trepp analytics said Wednesday.
The percentage of CMBS loans making a scheduled balloon payment rose in January with 40.8% of mortgages reaching their maturity date paid off, Trepp said. That compares to a pay off rate of 37.5% in December, which was the lowest percentage rate recorded in the past eight months.
When analyzing paid off loans by loan account, 51.3% of CMBS loans paid off in January, unchanged from December, Trepp noted.
Before the 2008 financial crisis, maturity loan payoff rates were well above 70% on average. Since then, there have been only three months where the balloon payoff rate actually rose above 50%.
Don’t miss out: get HW delivered via email