mortgage default data
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Modeling Structured Finance Cash Flows with Microsoft Excel: A Step-by-Step Guide.Book & CD-ROM $43.15 A practical guide to building fully operational financial cash flow models for structured finance transactionsStructured finance and securitization deals are becoming more commonplace on Wall Street. Up until now, however, market participants have had to create their own models to analyze these deals, and new entrants have had to learn as they go. Modeling Structured Finance Cash Flows with Micros… |
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Modeling Derivatives Applications in Matlab, C++, and Excel $119.95 Prebuilt Code for Modeling and Pricing Today’s Complex Derivatives Justin London shows how to implement pricing algorithms for a wide variety of complex derivatives, including rapidly emerging instruments covered in no other book. Utilizing actual Bloomberg data, London covers credit derivatives, CDOs, mortgage-backed securities, asset-backed securities, fixed-income securities, and toda… |
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Curtailment as a mortgage performance indicator [An article from: Journal of Housing Economics] $8.95 This digital document is a journal article from Journal of Housing Economics, published by Elsevier in . The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.Description: This paper studies the impact of mortgage curtailment behaviors on the subsequent default and prepayment performance. Although … |
Commercial Loan Workouts Can Save Apartment Complexes From Mortgage Loan Defaults
During these hard economic times, apartment buildings can benefit from a commercial loan workout. Just look at the lastest data.
Apartment mortgage loan defaults increased during the first quarter of 2010 to 4.6%, up from the same period a year ago, according to Real Capital Analytics, Inc., a leading real estate industry tracking firm. Sam Chandan, Global Cheif Economist at Real Capital Analytics said that “apartment defaults are leading other commercial real estate.” The current number of apartment mortgage defaults during the last three quarters exceeded the previous record set back in 1993! As more apartment buildings go info default, commercial loan workouts can stem the tide by helping owners increase their cash flow. Lack of jobs, higher vacancies, declining property values and decreasing cash flow are contributing factors to the rise in apartment building/multifamily mortgage defaults.
In a recent article published in the National Real Estate Investor, Matt Valley wrote about the Annual Mortgage Bankers Association convention for commercial real estate and multifamily financing. Michael May, senior vice president of multifamily sourcing for Freddie Mac shared his view of the apartment crisis. He said “at the moment, some apartment owners are running into major cash flow problems are reluctant to give back properties to the lender. In their view, the market is bottoming out. They’re willing to weather the storm and wait for more favorable pricing and fundamentals to return.” Until the commercial real estate market bounces back, commercial loan workouts can keep property owners afloat until they refinance into a new loan.
To add to the gloom are a wave of commercial mortgage loans that are due to reset from now through 2014. Trillions of dollars worth of commercial mortgage need to be refinanced, but will likely have a difficult time doing so. What can apartment owners do to avoid defaulting on their mortgage loan?
Commercial loan workouts can restructure existing loans to favorable terms. A commercial loan workout with bank approval, can extend the mortgage terms, reset the pending balloon payment, lower the current interest rate and increase needed cash flow. With so many commercial properties losing tenants, this can have a serious impact on the apartment owner’s ability to pay their mortgage loan. A commercial loan workout can be especially useful when owners can’t qualify for a new mortgage loan. Commercial mortgage loans that were originated 5,7 or 10 years ago during the real estate boom are now coming due. Since property values for apartment complexes have decreased up to 40% in recent months along with tougher lender guidelines, obtaining needed refinancing will be nearly impossible for many properties.
Property owners should contact their lenders to see if they qualify for a to restructure their existing loan. It’s also advisable to contact a legal or tax professional before owners decide their next step. A number of commercial property owners are also contacting third-party, commercial loan workout firms who specialize in negotiating with banks to restructure commercial mortgages on behalf of their clients. The firms with the most success have an experianced real estate attorney on staff who knows the ins and outs of commercial real estate and have many years experience in successfully negotiating favorable mortgage terms.
ommercial loan workouts can help owners who have defaulted on their mortgages or who are facing foreclosure. But the sooner they contact their lender or professional advisors, the most likely they can save their commercial properties, increase cash flow and get back on track.
About the Author
In 2010, Desmond Primus started a blog called “My Commercial Loan Workout Tips”. The primary purpose of this blog is to provide useful information to commercial property owners who can’t refinance due to the tightening of credit and declining property values. This problem will likely lead to a wave of loan defaults. By utilizing commercial loan workouts and/or commercial loan modifications, property owners can avoid foreclosure. Other blog topics include commercial mortgage loans, business debt restructuring, business financing, etc. Desmond has 20 years experience in the financial services field. For more information, please visit: http://www.mycommercialloanworkout.com/p/commercial-loan-workout-modification.html
mortgage default data Questions
Where can I find monthly data by MSA, for Mortgage Loan Defaults, Mortgage Foreclosures & Existing Home Sales?
I’m looking to compile this data for comparative purposes to determine the potential housing trends in my city and other cities in my region (NC and SC). I’m willing to pay a subscription for the data, but have not found any good sources on the web.
Try here:
http://www.greatercharlottebiz.com/
http://charlotte.bizjournals.com/charlotte/
http://triad.bizjournals.com/triad/
http://triangle.bizjournals.com/triangle/
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Modeling Structured Finance Cash Flows with Microsoft Excel: A Step-by-Step Guide.Book & CD-ROM $43.15 A practical guide to building fully operational financial cash flow models for structured finance transactionsStructured finance and securitization deals are becoming more commonplace on Wall Street. Up until now, however, market participants have had to create their own models to analyze these deals, and new entrants have had to learn as they go. Modeling Structured Finance Cash Flows with Micros… |
|
|
Modeling Derivatives Applications in Matlab, C++, and Excel $119.95 Prebuilt Code for Modeling and Pricing Today’s Complex Derivatives Justin London shows how to implement pricing algorithms for a wide variety of complex derivatives, including rapidly emerging instruments covered in no other book. Utilizing actual Bloomberg data, London covers credit derivatives, CDOs, mortgage-backed securities, asset-backed securities, fixed-income securities, and toda… |
|
|
Curtailment as a mortgage performance indicator [An article from: Journal of Housing Economics] $8.95 This digital document is a journal article from Journal of Housing Economics, published by Elsevier in . The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.Description: This paper studies the impact of mortgage curtailment behaviors on the subsequent default and prepayment performance. Although … |
