twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com 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 MortgageDaily.com.

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

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

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

Press Releases
Reports and announcements from MortgageDaily.com.

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

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Commercial Mortgage News | CRE Lender Directory | CRE Statistics
Stories about commercial lending on multifamily, office, retail and industrial properties.


CRE Lates Give Mixed Signals

Commercial mortgage delinquency reports

March 3, 2011

By MortgageDaily.com staff


In most corners of commercial mortgage banking, delinquency has deteriorated. But signs of life are emerging.

At banks and thrifts, commercial mortgage delinquency of at least 90 days was 4.19 percent in the fourth quarter, the Mortgage Bankers Association reported in its fourth-quarter 2010 report on mortgage delinquency for major investor groups.

The rate was better than the third quarter's 4.41 percent. But defaults on commercial real estate loans have deteriorated from 3.92 percent at the end of 2009.

"The delinquency rates for commercial and multifamily mortgages at banks and thrifts appear to have peaked at levels well below those of the last recession," Jamie Woodwell, vice president of commercial real estate research, said in the report.

Delinquency of at least 30 days, including real estate owned, on securitized commercial mortgages finished last year at 8.95. It was the highest rate since the series started in 1997.

Late payments on commercial mortgage-backed securities climbed from 8.58 percent three months earlier and leapt from just 5.70 percent in the fourth quarter of 2009.

"The CMBS market has continued
to see elevated levels of stress -- although the rate of increase has moderated and some technical issues make a direct comparison of CMBS to other investor groups tricky," Woodwell explained.

Moody's Investors Service reported that CMBS delinquency climbed to 9.01 percent in January from 8.79 percent on Dec. 31, 2010.

More recently, in February, the 30-day CMBS delinquency rate climbed 5 basis points from January to 9.39 percent, Trepp LLC reported. The latest tally represented about $61.8 billion in mortgages.

It was "the highest in history for U.S. commercial real estate loans in CMBS," though it was "one of the smallest month-over-month increases since the beginning of the credit crisis over two years ago."

Trepp said that industrial mortgage defaults were 32 BPS higher, while office delinquency was up 22 BPS and retail real estate loans rose 9 BPS. But multifamily mortgage lates were 24 BPS better last month, falling to 16.6 percent, and lodging loans improved 47 BPS to 14.61 percent.

At life insurance companies, commercial mortgage delinquency of at least 60 days fell to 0.19 percent from the prior quarter's 0.22 percent, MBA reported. Life insurer delinquency was 0.19 percent in the fourth-quarter 2009.

Fannie Mae's multifamily delinquency of at least 60 days finished last year at 0.71 percent, higher than the third quarter's 0.65 percent and the fourth-quarter 2009's 0.63 percent.

At rival Freddie Mac, the multifamily rate retreated to 0.31 percent from 0.35 percent but was higher than 0.20 percent in the final quarter of 2009. In January, Freddie's multifamily lates were 0.28 percent.

An earlier report from MBA indicated that $155 billion of the $1.4 trillion in outstanding commercial real estate loans owned by non-banks is set to mature this year. Next year, another $125 billion is scheduled to mature.

Around 12 percent of securitized loans will come due this year, while just 3 percent of agency multifamily loans will come due. Around 7 percent of life insurer holdings will come due.

next story

back to current headlines


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.


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.


GSE News | Fannie/Freddie Share Statistics
Fannie, Freddie and FHLB news. Coverage of government sponsored enterprise regulation, operations and litigation.


Bank news

Logout forgot
password?

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

MBS

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