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

Hotel Delinquency Up More Than 1000 BPS

CMBS delinquency 8.10% in August

Sept. 10, 2010

By staff

Performance of securitized commercial mortgages was worse last month. Over the past year, the rate of delinquency on all securitized mortgages has climbed more than 400 basis points -- while the ascension was more than 1,000 BPS on just hotel loans.

Loans included in commercial mortgage-backed securities saw delinquency of at least 60 days deteriorate 21 basis points in August, according to Moody's Investors Service's Delinquency Tracker released Friday. The index reflects performance on commercial mortgages included in conduit or fusion deals issued since 1998.

Late payments on CMBS loans were 8.10 percent last month, the New York-based ratings agency said. The delinquency rate climbed from 7.89 percent during July and was 446 BPS worse than August 2009.

The figures reflected 285 newly delinquent commercial mortgages in August for $4.7 billion. While more previously delinquent loans -- 328 -- became current during the latest month, the collective balance of the cured or disposed of mortgages was only $3.7 billion.

In all, 3,909 securitized commercial mortgages for $51.56 billion were delinquent as of last month.

But Moody's Managing Director Nick Levidy had some good news.

"Delinquency rate increases have moderated over the past three months
," Levidy said.

He cautioned, however, that the rate will continue deteriorating "over the near
term, with the potential for an occasional spike given the large reservoir of troubled loans in special servicing."

Deterioration in the hotel sector continued in August, with the rate of late payments rising to 15.47 percent from 13.91 percent a month earlier. A year earlier, the hotel rate was just 4.97 percent. A single loan, the Innkeepers Portfolio, was $825 million and accounted for 75 percent of delinquent hotel loans last month.

Multifamily late payments jumped 21 BPS from July to 13.45 percent, and loans secured by retail properties saw an 8-basis-point rise to 6.59 percent. Office property defaults were up 7 BPS to 6.11 percent.

Industrial property loans deteriorated 52 BPS to 6.01 percent -- "the best performing of the five property types."

Nevada's delinquency rate, already the worst of any state, rose another 44 BPS to 25.39 percent in August.

A distant second, Arizona's rate was up 51 BPS to 14.27 percent. Michigan slipped from No. 2 in July to the third-worst state with a delinquency rate of 14.09 percent.

next story

back to current headlines

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

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.

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