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Office, Lodging Lead CMBS Delinquency Decline

Performance on securitized commercial real estate loans improved again, with lodging and office-building delinquency down most.

As of Oct. 31, 2015, thirty-day delinquency on loans that are included in commercial mortgage-backed securities
was 5.23 percent.

The rate of CMBS delinquency improved compared to the previous month, when 30-day delinquency was clocked at 5.28 percent.

Trepp LLC reported the performance metrics based on CMBS it rates.

It was the second consecutive month of improvement.

A year earlier, Trepp previously reported the 30-day CMBS rate at 6.14 percent.

Down 11 BPS was the past-due rate for lodging loans, to 3.17 percent as of Oct. 31, 2015.

The lodging rate improvement tied the 11-basis-point decline on the office delinquency rate, which was 5.70 percent
as of last month.

A two-basis-point drop from Sept. 30, 2015, put the 30-day rate on multifamily loans at 8.18 percent.

Delinquency on retail property loans was 5.72 percent as of October 2015, off a basis point from the previous month.

The only category to see deterioration in loan performance was CMBS loans secured by industrial properties, with delinquency deteriorating 10 BPS from September to 6.28 percent.

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