CMBS Delinquency Down in July

Aug 01, 2017

The delinquency rate for commercial real estate loans in commercial mortgage-backed securities (CMBS) reached 5.49 percent in July, a 26 basis points (bps) decline from the June level, according to new data from Trepp LLC. On a year-over-year basis, the July rate is now 73 bps higher than July 2016; it is also 26 bps higher year-to-date.

Approximately $1.4 billion in loans became newly delinquent in July while nearly $1.2 billion in loans were cured last month. About $1.7 billion in CMBS loans that were previously delinquent were resolved with a loss or at par in July.

Among the different property sectors, the greatest downward movement involved the multifamily delinquency rate dropping 101 bps to 2.91 percent and the industrial delinquency rate moving down 61 bps to 6.96 percent. The lodging sector was the only one to see upward movement, with the delinquency rate rising by 15 bps to 3.68 percent.

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Phil Hall

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Aug 01, 2017

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