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Little Q4 Movement in Commercial and Multifamily Delinquency Rates

Phil Hall
Mar 06, 2018
The commercial mortgage-backed securities (CMBS) delinquency rate published by Trepp LLC broke through the three percent threshold in February, dropping from 3.11 percent February to 2.87 percent for a new post-recession low

Delinquency rates for commercial and multifamily mortgage loans held steady during the fourth quarter of 2017, according to new data from the Mortgage Bankers Association (MBA).
 
During the fourth quarter, the delinquency rate for banks and thrifts (90 or more days delinquent or in non-accrual) was 0.51 percent, down by a scant 0.02 percent from the fourth quarter, while the rate for commercial mortgage-backed securities (30 or more days delinquent or in REO) was 4.08 percent, a decrease of 0.52 percentage points from the third quarter. Life company portfolios (60 or more days delinquent) saw a 0.03 percent delinquency rates, up by a miniscule 0.01 percent, while Fannie Mae (60 or more days delinquent) had a 0.11 percent rate, an increase of 0.08 percent. Freddie Mac (60 or more days delinquent) had a 0.02 percent rate that was unchanged from the third quarter.
 
"Commercial and multifamily mortgages ended 2017 continuing to perform extraordinarily well," said MBA Vice President of Commercial Real Estate Research Jamie Woodwell. "The market tailwinds of strong fundamentals, increasing property values and ready access to mortgage and other credit all put downward pressure on delinquency rates."

 
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