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

Lodging Loans Lead Improvement in CMBS Performance

CMBS 30-day rate down 32 BPS in November

Dec. 3, 2013

By Mortgage Daily staff

Past due payments on securitized commercial real estate loans tumbled last month, with late payments on hotel loans improving the most.

The 30-day delinquency rate on loans included in commercial mortgage-backed securities was 7.66 percent in November, according to monthly data from Trepp LLC.

CMBS delinquency declined 32 basis points from the previous month.

Compared to the same month in 2012, the past-due rate has plunged 205 BPS.

Last month's rate of late payments was the lowest CMBS delinquency rate since at least 2010.

While $2 billion in CRE loans became newly delinquent, around $2.2 billion in delinquent loans were cured and another $1.2 billion in delinquent loans were resolved with losses.

The biggest improvement came from lodging loans, with 30-day delinquency falling 122 BPS from October to 7.72 percent.

Also tumbling was delinquency on industrial loans, which fell 87 BPS to 10.44 percent as of Nov. 30.

After that was the rate on office property loans, which was down 61 BPS from October to 8.46 percent.

Retail property loan delinquency dipped 2 BPS to end last month at 6.32 percent.

The only deterioration was with multifamily loans, which saw delinquency increase 12 BPS to 11.14 percent as of Nov. 30.

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