The delinquency rate for commercial mortgage-backed securities (CMBS) inched up in May by 5 basis points to 7.08%, according to new data from Trepp Inc. The overall CMBS delinquent balance this month was $42.6 billion, up from $41.9 billion in April. If defeased loans...
A father and son team pleaded guilty to securities fraud and aggravated identity theft in connection with their scheme to defraud investors of more than $280 million in two municipal bond offerings tied to the construction of the 320-acre Legacy Park sports complex in...
Ethan Penner, who is credited as being the father of the commercial mortgage-backed securities (CMBS) sector, is setting his sights on the 2026 race for California governor. The Real Deal reports that Penner, the CEO of Calabasas-based Mosaic Real Estate Investments,...
Nuveen, the investment manager of TIAA, has debuted a 1031 real estate exchange platform. The new platform is structured as an Umbrella Partnership Real Estate Investment Trust (UPREIT) program that will enable property owners to convert proceeds from real estate...
Senate Democratic Leader Chuck Schumer slammed President Donald Trump’s announcement that he planned to take Fannie Mae (OTCQB: FNMA) and Freddie Mac (OTCQB: FMCC) public, claiming it would only “line the pockets of the wealthy” while jacking up mortgage costs. The...
The condo market has become so bad – pause for a “Match Game”-style response of “How bad is it?” – that nearly seven in 10 (68%) condos sold below list price in the first quarter, the lowest share in five years. Furthermore, new data from Redfin (NASDAQ: RDFN) found...
