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0 -0.000665114732291306 -0.00399068839374784 -0.00532091785833057 -0.00964416361822412 -0.0129697372796808 -0.0129697372796808 -0.0129697372796808
Stock impact report

Arbor Realty takes back more assets as loan mods slow, delinquencies persist [Yahoo! Finance]

Arbor Realty Trust (ABR) 
Last arbor realty trust earnings: 2/14 08:15 am Check Earnings Report
US:NYSE Investor Relations: ir.arbor.com/investor-relations
Company Research Source: Yahoo! Finance
The net result for the REIT, a top bridge lender to multifamily syndicators, was to shave about $45 million off the $1 billion in delinquencies it reported in the previous quarter. By taking properties from troubled borrowers and modifying the loans of others, it wiped out nearly $300 million of the delinquencies it began the third quarter with — “strong progress,” in the words of CEO Ivan Kaufman. But as Arbor bailed out its boat, nearly as much water flowed in. It reported $225 million in new delinquencies for the three months ending Sept. 30. On a Friday morning earnings call, Kaufman said Arbor had expected a “ tough ” third quarter and projects “additional delinquencies” to come. Still, the CEO said it could achieve “a continued decline in our total delinquencies.” Late payments have become an albatross for Arbor as multifamily borrowers who tapped the lender's short-term, floating-rate product have struggled to keep up with surging debt service. One line of attack for Show less Read more
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