Copyright 2010 SNL Financial LCAll Rights Reserved SNL Bank Weekly Western Edition
September 7, 2010
MBA: CMBS delinquency rate reaches new high
Commercial/multifamily mortgage delinquency rates were mixed among investor groups in the second quarter.
Commercial/multifamily mortgage delinquency rates were mixed among investor groups during the second quarter, but CMBS showed pronounced weakness.
The Mortgage Bankers Association said Sept. 2 that the delinquency rate for loans held in CMBS reached a new high for the data series, which dates back to 1997.
Between the first quarter and the second quarter, the 30-plus-day delinquency rate on loans held in CMBS rose 1.39 percentage points to 8.22%.
The 60-plus-day delinquency rate on loans held in life company portfolios fell 0.02 percentage points to 0.29%. The 60-plus-day rate on multifamily loans held or insured by Fannie Mae increased 0.01 percentage points to 0.80%, while the same rate on multifamily loans held or insured by Freddie Mac rose 0.03 percentage points to 0.28%.
The 90-plus-day delinquency rate on loans held by FDIC-insured banks and thrifts was unchanged at 4.26%.
September 13, 2010