Skip to main content

Commercial And Multifamily Delinquencies Dip In October

Nov 03, 2020
Multifamily property
Director of Events

The Mortgage Bankers Association's monthly CREF Loan Performance Survey reported a decline in commercial and multifamily properties in October 2020.

"Commercial and multifamily mortgage performance improved in October, but there continues to be evidence of elevated stress, especially among loans backed by retail and lodging properties," said Jamie Woodwell, MBA's vice president of Commercial Real Estate Research. "The share of loans becoming newly delinquent fell again in October, but a larger share of non-current loans shifted to later-stage delinquencies. In essence, fewer loans are becoming delinquent, but those that are delinquent show fewer signs of curing."

According to the report, fewer loans became delinquent in October with 3.4% being 90 days or more delinquent or in REO, down from 3.5% in September. Loans 30-60 days delinquent and less both saw declines.

"Loans backed by lodging and retail properties continue to see the greatest stress, with a higher share of non-current loan balances entering late-stage delinquency," according to the report.

"The overall share of lodging and retail loan balances that are delinquent fell again in October."

Click here to view the full report.

About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
Nov 03, 2020
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