Skip to main content

CMBS Delinquency Rate at 16-Month High

Phil Hall
Apr 04, 2017
The outstanding debt on commercial and multifamily mortgages increased by $45.4 billion, or 1.5 percent, to $3.11 trillion in the third quarter from the second quarter

The delinquency rate for U.S. commercial real estate loans in commercial mortgage-backed securities (CMBS) reached the 5.31 percent level in February, an increase of 13 basis points (bps) from the previous month, according to data from Trepp LLC. This marked the highest reading since August 2015. On a year-over-year level, the delinquency rate is up by 116 bps.
Although delinquency rates were down in four of the five major property sectors, office delinquencies helped push the rate higher in February. Delinquencies in the office sector were up by 54 bps to 7.65 percent. In comparison, the multifamily delinquency rate dipped 14 bps to 2.82 percent, and Trepp credited apartment loans as being “the best performing major property type.”
About $1.3 billion in CMBS loans that were previously delinquent paid off with a loss or at par in February, while more than $850 million in loans were cured last month, which helped to push the delinquency rate down by 20 bps.

Apr 04, 2017
Guild Mortgage Acquires Cherry Creek Mortgage

Terms of purchase not disclosed; reverse mortgage volume added to Guild.

Mar 14, 2023
Vigilance, Dedication, And Commitment Forge Legends

Submit a nomination for Mortgage Banker Magazine’s Legends of Lending.

Mar 10, 2023
FTC Moves To Block Black Knight, ICE Merger

Says it 'would drive up costs, reduce innovation, and reduce lenders’ choices.'

Mar 09, 2023
Rocket Arms Brokers With Bully Shield Vs. UWM

Rocket covers penalties and court fees for brokers who want to get out of United Wholesale Mortgage’s ultimatum contract. 

Feb 06, 2023
Top Texas Originator Sees No Surrender To 2023

Big cities will determine the battle

Jan 26, 2023
There’s Good & Bad News On The Horizon

There will be a real estate slump, but the big cities are coming out much better

Jan 26, 2023