twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map
Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.

CMBS Delinquency Up, Spreads Down

9.77% CMBS delinquency rate in October

Nov. 2, 2011

By staff

The rate of late payments on securitized commercial real estate loans rose for the second consecutive month and has only been eclipsed once before. Meanwhile, spreads in the commercial mortgage securities market tightened -- though that might not be enough to resolve a host of upcoming balloon payments coming due.

Last month's 30-day delinquency rate on loans included in commercial mortgage-backed securities came in at 9.77 percent. That worked out to around $60.2 billion in past-due CRE loans.

A month earlier, the rate was 9.56 percent.

Trepp LLC, which provided the data, said that it was the second month in a row that CMBS late payments were worse. In fact, the information service provider explained that the rate sits at its second-highest level ever.

The record was set in July: 9.88 percent.

Securitized multifamily loans had a delinquency rate of 16.73 percent in October -- the highest of any property type. Still, that was 23 basis points better than September.

Hotel delinquency rose 82 BPS -- more than any other category -- to 14.12 percent.

The rate on industrial property mortgages deteriorated 21 BPS to 11.59 percent, and delinquency on CRE loans secured by office properties soared 66 BPS to 8.95 percent.

Retail loan delinquency was 7.61 percent, down 1 basis point from a month earlier and the lowest rate of any property type.

Trepp Managing Director Manus Clancy noted in the report that CMBS spreads improved in October after three months of "taking a beating." Spreads had reached their highest levels since the middle of last year. The market was even worsening for much of last month as CRE originators and CMBS issuers were laying off employees.

But the improved market conditions in late October are unlikely to immediately prompt an improvement in CMBS issuance or delinquency.

Trepp said that "a bevy" of five-year loans originated in 2007 are coming due next year, and it looks unlikely that these balloon notes will be resolved through new CMBS issuance.

next story

back to current headlines

Mortgage Backed Securities | MBS News | MBS Statistics
News about commercial and residential mortgage-backed securities. Stories about ratings actions and changes to servicer ratings. Studies and reports about the performance of securitizations and problem vintages and classes. Subprime, Alt-A, home equity and j u m b o analysis.

Commercial Mortgage News | CRE Lender Directory | CRE Statistics
Stories about commercial lending on multifamily, office, retail and industrial properties.

CRE news
Commercial real estate news and coverage of how commercial real estate impacts the mortgage industry and commercial mortgage-backed securities.

Secondary Marketing News | Correspondent Lender Directory
Mortgage portfolio trades and forward commitments. Correspondent lending, r e p u r c h a s e s and warehouse news. Secondary marketing statistics and lawsuits.

Logout forgot

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders