Mortgage Daily Logo

CMBS Performance Strengthens

Mortgage News

A nice improvement in the rate of late payments on hotel and industrial mortgages helped drive down delinquency on securitized commercial real estate loans last month. Thanks to one big loan in New York City, the rate of past-due payments on multifamily loans jumped 50 basis points.

The 60-day delinquency rate on loans included in commercial mortgage-backed securities was 8.29 percent in October.

The past-due rate fell from 8.37 percent in September, when delinquency had already improved 2 basis point from the prior month.

It was the fifth consecutive that CMBS delinquency was lower, according to Fitch Ratings, which reported the data.

As of Oct. 31, 2011, the CMBS 60-day rate stood at 8.56 percent.

Last month’s rate reflected $1.4 billion in CMBS loan resolutions and $1.3 billion in additions to the delinquent inventory.

Fitch said that it added $4.6 billion in loans to its total rated portfolio in October, more than the $3.4 billion in portfolio runoff.

Helping to pull down delinquency last month were loans secured by hotels, with the 60-day rate tumbling to 9.58 percent from September’s 10.24 percent rate.

Another big mover was the industrial category, with delinquency on industrial property loans falling to 8.76 percent from 9.03 percent in September.

The rate on retail property loans fell to 7.35 percent from 7.48 percent, and office property loans saw delinquency improve by 11 BPS to 8.72 percent.

The only property type to see deterioration last month was multifamily loans. The 60-day rate on CMBS apartment loans jumped to 10.45 percent from September’s 9.95 percent rate.

The multifamily rate reflected a newly delinquent $375 million loan on an apartment building in Manhattan in New York. While the borrower was allowed to use reserve funds to bring the loan current in February, the loan was expected to become delinquent again.

Related Posts

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

There is No Such Thing as a Free House …

Over the past several years, those who service loans in the State of Washington(1) have seen a dramatic rise in the number of lawsuits in which delinquent borrowers seek to quiet title to their homes on the grounds that lenders are barred from foreclosing based on...

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

The Mortgage Graveyard 2018 Archives

The Mortgage Graveyard 2018 Archives Failed, Struggling and Acquired Mortgage-Related Companies Non-Bank Closures 3 Bank Failures (FDIC) 0 Credit Union Failures 0 Total Mortgage-Related Failures 3  

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

MBS Statistics

MBS Statistics Non-Agency Issuance 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 Private Label RMBS Issuance (S&P) $80 billion to $100 billion (est) $70 billion $34...

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

Sample E-Mail

Sample E-Mail   Covering the Real Estate Finance Since 1999  Mortgage Industry News free news content | view headlines online  Advertorial Text Ad This ad includes a linked bold headline of up to 50 characters and up to 100 words of text. The ad can be...

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...

Newsletter

Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI