Skip to main content

Commercial and Multifamily Delinquency Rates Hold Steady

Jun 14, 2018
The delinquency rate for US commercial real estate loans in commercial mortgage-backed securities (CMBS) reached 3.33 percent in November

The delinquency rates for commercial and multifamily mortgage loans were virtually unchanged from the fourth quarter of last year to the first quarter of this year, the according to the latest Commercial/Multifamily Delinquency Report issued by the Mortgage Bankers Association (MBA).
 
Based on the unpaid principal balance of loans, the MBA determined the first quarter delinquency rate for banks and thrifts (90 or more days delinquent or in non-accrual) was 0.51 percent, unchanged from the fourth quarter. The rate for life company portfolios (60 or more days delinquent) was 0.02 percent, a very slight 0.01 percent drop, while the rate for commercial mortgage-backed securities (30 or more days delinquent or in REO) was 3.93 percent, a 0.15 percent decline. Fannie Mae and Freddie Mac scored 0.13 percent and 0.02 percent delinquency rates for loans that were 60 or more days delinquent, a 0.02 percent increase for Fannie Mae and an unchanged level from the fourth quarter for Freddie Mac.
 
"Mortgages backed by commercial and multifamily properties continue to perform extremely well," said MBA Vice President of Commercial Real Estate Research Jamie Woodwell. "Delinquency rates are at or near their all-time lows across most capital sources. This continues to be driven by strong property fundamentals, increasing property values, still-low mortgage rates and readily available financing."

 
About the author
Published
Jun 14, 2018
Co-Founder Mat Grella Terminated From NEXA

NEXA CEO Kortas states negotiations regarding the buyout will continue.

Mar 27, 2024
Comings And Goings At AmeriHome

Chief Operating Officer John Hedlund announced his retirement on Thursday in a LinkedIn post.

Mar 22, 2024
Rocket's Tim Birkmeier To Retire

Birkmeier is bidding farewell after a 28-year career at Rocket Companies.

Mar 21, 2024
How NAR’s Settlement Impacts Homebuying

While the settlement's silver lining is that homes are expected to become more affordable, many uncertainties loom over the housing market.

Mar 19, 2024
NAR Reaches $418 Million Settlement

The association agreed to give home sellers the option of compensating agents.

Mar 15, 2024
U.S. Non-Bank Mortgage Lenders Surge Amid Industry Consolidation, Fitch Ratings Reports

As smaller players exit the market, scaled originators like UWM and PennyMac Financial dominate, but challenges persist with low origination volume and pressured margins amidst rising interest rates.

Mar 14, 2024