Central Bank report notes increase in mortgage arrears

The Central Bank of The Bahamas' (CBOB) monthly economic and financial developments report for November 2017 revealed that mortgage arrears were up by $5.6 million for the review period. In the report, released last week, the regulator showed that private sector loan arrears declined by [...]

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Sterling Global Financial Mortgage Fund Finances $8.5Million Land Buy for Florida International University Student Housing Complex

Sterling Global Financial, an award-winning firm specializing in real estate finance, property development, and private banking and trust services, announced today that it has finalized a loan for a 1.72-acre parcel of land across from Florida International University...

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Approved residential mortgages continue to decline

Residential mortgage commitments decreased 16 percent from 295 during the final quarter of 2017, to 254 during the first quarter of 2018, according to The Central Bank of The Bahamas Quarterly Statistical Digest for May 2018. Loans for new construction increased a hairline from 95 [...]
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Mortgage eyed for hotel sale ?

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Mortgage commitments up in Q1 2023

Lending financial institutions saw 190 residential mortgage commitments during the first quarter of 2023, valued at more than $45 million, an increase over the mortgage commitments during the same quarter for the past two years. The Central Bank's Quarterly Statistical Digest for May showed that 42 were for new home builds, 140 were for existing ...
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Mortgage commitments continue downward trend

Considered a forward-looking indicator of domestic activity, the number of mortgage commitments for new buildings and repairs dropped during the first quarter of the year, a signal of the weakened private sector amid the COVID-19 pandemic. The Central Bank of The Bahamas indicated that financing was down six percent in the first three months of ...
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Mortgage commitments down in third quarter

Domestic private sector activity measured by mortgage commitments fell in the third quarter for a second consecutive year, new data from The Central Bank of The Bahamas revealed. This subdued activity in the third quarter is in contrast to the robust growth in mortgage commitments in the first and second quarters of this year, which ...
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Sterling Mortgage Income Fund marks 10 years of success

Sterling Global Financial Chairman David Kosoy today projected a successful year-end for the firm’s mortgage income fund as its real estate and lending fund marks its 10th anniversary with an unbroken record of double digit returns for investors since inception.

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BMC's outstanding mortgages grew 12 percent in 2021

During 2021, outstanding mortgages at the Bahamas Mortgage Corporation (BMC) rose 12 percent to $187.2 million, The Central Bank of The Bahamas has revealed. The data was revealed in the just released Financial Stability Report for 2021, which also showed losses for the Bahamas Development Bank (BDB). "An uptick in unemployment claims led to significant ...
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Mortgage commitments up

The second quarter of the year saw the highest number of new mortgage commitments since the onset of the COVID-19 pandemic, with 212 new commitments in total with a value of more than $52 million. The data was outlined in the Central Bank of The Bahamas' Quarterly Statistical Digest for the month of August. This ...
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