KBRA Releases CMBS Report: Retail And Lodging Delinquency Rate Decline

Associate Editor

Aug 30, 2021

The August delinquency rate fell to 4.6% from 4.8% in July.

KEY TAKEAWAYS

In August, the delinquency rate fell to 4.6%, down from 4.8% in July.
The largest decrease in delinquency rate came from lodging and retail, dropping from 11.9% to 11.3% and 8% to 7.4%, respectively.
The retail loans had an average loss severity of 44.6%.
This marks the 14th consecutive month in which the rate has declined or remained flat from the previous month, since peaking in June 2020 at 8.2%.

The Kroll Bond Rating Agency (KBRA) released a report on the commercial mortgage-backed securities (CMBS) loan performance trends in the August 2021 servicing report period. In August, the delinquency rate fell to 4.6%, down from 4.8% in July. This marks the 14th consecutive month in which the rate has declined or remained flat from the previous month, since peaking in June 2020 at 8.2%.

The largest decrease in delinquency rate came from lodging and retail, dropping from 11.9% to 11.3% and 8% to 7.4%, respectively. The decline in lodging delinquencies was especially sizable, considering 26 lodging loans totaling $486.7 million have become current or resolved.

Additionally, the disposition of six loans totaling $130.7 million contributed to the decline in the retail delinquencies. The retail loans had an average loss severity of 44.6% after being resolved. Multi Family homes were the only property types to increase their delinquency rate, going from 1.6% to 1.9%. This was mainly driven by five loans that became newly delinquent, totaling $109.4 million.

To read the monthly CMBS report by KBRA, click the link provided.

About the author

Katie Jensen

Associate Editor

Katie Jensen is a mortgage news reporter at NMP.

Link copied

Published

Aug 30, 2021

Regulation and Compliance

Senate Passes 21st Century ROAD To Housing Act In 85-5 Vote

Sweeping housing package heads back to House after Senate clears final version with broad bipartisan support

The U.S. Senate passed the 21st Century ROAD to Housing Act on Monday by a vote of 85-5, moving Congress closer to enacting one of the most significant federal housing packages in decades.The bill, which now heads back to the House for approval, is designed to lower housing ...

Operations

Rocket Pro Meets Brokers Halfway With ARIVE Expansion

Phase 2 of Rocket Pro’s integration lets brokers submit loan files and receive real-time status updates inside ARIVE

Rocket Pro is expanding its integration with ARIVE, allowing brokers to submit loan files and receive real-time loan status updates from Rocket Pro inside the broker platform.The second phase of the partnership moves Rocket Pro beyond pricing and product visibility inside AR...

Sep

Dallas, TX

More from

Analysis and Data

Investor Home Purchases Hold Steady Despite Housing Market Slowdown

Realtor.com report finds investors accounted for 11.3% of home purchases in 2025, as small investors gained market share and institutional buyers continued to retreat

Analysis and Data

Jun 23, 2026

Seller Concessions Hit Record Spring High, Giving Buyers More Leverage

Nearly half of home sales included seller concessions in May, creating new opportunities for borrowers to reduce upfront costs and negotiate better terms

Analysis and Data

Jun 23, 2026

Housing Supply May Matter More Than Rates: JPMorgan

New report argues factory-built housing could lower construction costs, expand affordable inventory, and create more opportunities for first-time homebuyers

Analysis and Data

Jun 23, 2026

Best And Worst Markets For Single-Parent Homeownership

LendingTree finds single parents in some metros are more than twice as likely to own a home as those in the nation's least affordable markets

Analysis and Data

Jun 22, 2026

One-Third Of Homeowners Expect To Refinance Despite Elevated Mortgage Rates

Many prospective refinancers carry mortgage rates above 5%, suggesting demand could accelerate if borrowing costs decline

Analysis and Data

Jun 19, 2026

FHA Continues To Drive New-Home Purchase Activity

Government-backed loans accounted for more than half of builder applications for a fifth straight month as loan sizes fell and buyers remained rate-sensitive

Analysis and Data

Jun 19, 2026

Popular