On May 01, 2024, Director Mark Biderman sold 15,000 shares of Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI), as reported in a recent SEC filing. The transaction was conducted at $10 per share.Apollo Commercial Real Estate Finance Inc is a real estate investment trust that originates, acquires, invests in, and manages primarily commercial first mortgage loans, subordinated loans, commercial mortgage securities, and other commercial real estate related debt investments.The insider selling is part of a wider trend that the company has seen more insider purchases than sales in the past year. Specifically, there have been 7 insider sales compared to…
Author: Private Lending Agent
While second lien mortgages typically represent credit risk to a portfolio, RCKT Mortgage Trust 2024-CES3's pool of fixed rate mortgages collateralized by $447.6 million of mortgage-backed securities was underwritten consistent with ability-to-repay rules by experienced originators and servicers.The proceeds from the underlying assets of the transaction are also in line with Fannie Mae's guidelines, according to Kroll Bond Rating Agency (KBRA).Bank of America Merrill Lynch, Barclays, BMO Capital Markets and Citigroup Global Markets are acting as managers on the deal, according to the Asset Securitization Report deal database, which also noted that the transaction is expected to close on May…
Bayes' semi-annual real estate report shows new lending is down significantly year-on-year New lending to commercial property fell 33% last year to the lowest level since 2013, according to the latest semi-annual report from Bayes Business School (formerly Cass).The report, researched and authored by Dr Nicole Lax, Senior Research Fellow at Bayes Business School, City, University of London, also shows that a significant proportion (42%) of the £170 billion in outstanding loans will have to be refinanced within the next 12 months, which Dr Lax predicts will cause ongoing stress in the market.According to a respected commercial property report, new…
There's a new No. 1 on the list of the nation's largest mortgage lenders. United Wholesale Mortgage took the top spot by a large margin, beating out Rocket Mortgage, the sector's champion and largest for the past six years. Among other banks on the list, LoanDepot dropped from third to 10th place, relinquishing its spot to Bank of America, while Wells Fargo and Chase Home Lending dropped out of the top 10 entirely. Wells Fargo's departure reflects the company's decision to scale back mortgage lending in 2023. How do we explain this dramatic shift? Mortgage rates have continued to rise…
Commercial property foreclosures have surged nearly 120% in the past 12 monthsAccording to real estate research and data analytics firm ATTOM, 625 commercial loans have been foreclosed since March 2023, up 117% from the previous year.This is another data point that shows just how serious the problems are in the commercial real estate sector, and the sheer volume of commercial debt that could become non-performing is also worrying.The economic impact is frightening to contemplate, with America's commercial real estate sector moving one step closer to the abyss every day. Commercial real estate foreclosures have been on the rise since hitting…
Historical figures and origins Caldwell's history begins with its founding as a railroad town in 1883. Its development was initiated by the construction of the Oregon Short Line Railroad. Named for former Senator Alexander Caldwell, who invested in local railroad projects, the city quickly grew into an agricultural center thanks to its fertile soil and favorable climate. Notable historical figures include Governor Frank Stunenberg, who was influential in the late 19th and early 20th centuries and whose leadership in labor disputes in the Coeur d'Alene mining district marked a critical period in the history of Idaho labor law. History and…
The commercial real estate (CRE) market was largely unchanged in the first quarter of the year. Vacancy rates are trending upward and rent growth continues to slow across all market sectors. Specifically, office vacancy rates hit an all-time high, reaching nearly 14%, and fundamentals in both the retail and industrial sectors slowed. These trends reflect ongoing trends and challenges from the prior year that continue to impact the market. Interest rates are stable at 5.5% and the impact of hybrid working on office space is not going to disappear overnight. Meanwhile, the US economy has started to slow after growing…
The beginning of May is upon us. It has long been considered the start of the most magical month throughout the Pacific Northwest. Residents of Salt Spring Island and the Southern Gulf Islands would agree. May through October are the most magical months in the region, encompassing spring, summer and early fall. Residents of Salt Spring are fortunate to be surrounded by beautiful scenery. Regardless of the geopolitical concerns that mark and worry our times, it is vital that we enjoy this annual natural wonder. Real Estate Market The Salt Spring and Gulf Islands real estate market is performing well…
Some Chicago-area residents are wondering whether the popular home flipping business is a bad business model or a Ponzi scheme, as iFLIP Chicago has been the subject of multiple lawsuits alleging it lured inexperienced investors into predatory lending. The loans had a devastating economic impact on dozens of Chicago-area families. Ameera Hamid, an emergency physician, is passionate about home renovation and said flipping houses is something her mother always wanted to do. Hamid was one of the people who became interested in iFLIP Chicago. “If you want to learn how to actually flip houses and you want to actually do…
Homebuyers hoping for lower mortgage rates in May may have to wait a little longer for that to happen. Getty Images There's no question that the mortgage rate environment has changed dramatically over the past few years, with stubbornly high inflation remaining an issue. While mortgage rates were hovering below 3% in early 2021, the resulting rise in inflation prompted the Federal Reserve to launch an aggressive rate hike campaign, causing mortgage rates to soar to over 8% by late 2023. And while the Fed's actions have helped tame some inflation, we're not out of the woods yet. Several recent…