Chandan Economics

Q1 2013 Apartment Financing Trends

Apartment debt yields fell below 9.0 percent during the first quarter, as lenders vied for opportunities to originate loans against performing assets with low cash flow risk. Financing cap rate and interest rate spreads both narrowed.

Special Report on Apartment Lending and Credit Risk

Even as underwriting holds to in-place cash flow, historically low-cost financing and the competitive overlap between agency and non-agency lenders are driving exit risks for new loans. These risks are largely mispriced by conventional credit risk models.

Q4 2012 Bank Default and Lending Report

Banks' multifamily and commercial property default rates fall. Biggest jump in net lending in four years.

Measuring Agency MBS Risk

Using the same models applied to bank and life company loans, the Agency Loan Analyst report quantifies potential default and loss severity across each new issue's loan pool.

Lending Trends Data & Reports

Based on Chandan Economics' database of new multifamily and commercial real estate loans, originated across balance sheet, agency, and conduit lenders.

LATEST RESEARCH & REPORTS
May 8 | National Commercial Debt & Investment Trends (Industrial, Office, and Retail) Q1'13 Report | Summary
May 3 | National and Metro Apartment Debt & Investment Trends Q1'13 Reports
May 2 | RELA–Chandan Survey of Commercial Real Estate Lender Sentiment Q1'13

CHANDAN VIDEO

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April 30 | Mortgage Bankers Association

Apartment Financing Costs Hold at Record Lows | by Michael Tucker

Q1 2013 Apartment Financing Trends

RELEASED APRIL 2013 | May 3 2013 - Updated with Metro Summary Below
Selected Findings from the Q1 2013 Apartment Financing Trends Reports

April 24 | Federal Financial Institutions Examination Council

Washington DC | Real Estate Lending and Risk Management Practices at Community and Regional Banks

At a meeting of the FFIEC — including bank supervisors from the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and Office of the Controller of the Currency (OCC) — Sam Chandan will present Chandan Economics' first quarter trends for lending by community and regional banks. This update follows a similar presentation on Large Complex Financial Institutions (LCFIs) in late March 2013.

Selected materials will be available on the client site following the presentation.