Mortgage Daily Logo

CMBS Delinquency Drops, Healthcare Rate Sinks

Mortgage News

The performance of securitized commercial real estate loans had a nice improvement last month that was led by healthcare property loans.

As of Nov. 30, delinquency of at least 30 days on loans included in commercial mortgage-backed securities stood at 3.41 percent.

The past-due rate tumbled by 10 basis points compared the one month previous. Compared to one year previous, the rate sank 62 BPS.

Morningstar Credit Ratings reported the performance data based on the $795 billion in CMBS it rated as of the end of last month.

“The wave of maturing loans continues to drop, indicating that most loans written as the market approached its peak in 2007-08 are successfully refinancing amid the low interest-rate environment,” the report stated. “Of the $12.0 billion in loans due for repayment in October and November, $10.51 billion paid in full.”

Helping to drive down the 30-day rate on CRE loans were securitized healthcare property loans, with delinquency plummeting 83 BPS from October to 2.45 percent.

The rate on hotel CMBS loans dropped 32 BPS to 2.55 percent as of November.

A 25-basis-point decline from October left the 30-day rate on industrial property loans at 5.28 percent.

Retail property loan delinquency fell 14 BPS to 5.18 percent as of last month.

On securitized multifamily loans, the 30-day rate receded six BPS from the end of October to 1.74 percent.

The only category to see deterioration was securitized office property loans, with the rate of one-month delinquency inching up two BPS to 5.27 percent as of the most-recent date.

Related Posts

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Third-Quarter 2012 Mortgage Litigation Index

Lawsuits involving excessive fees, servicing fees and loan fees beyond state maximums. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Fannie Mae and Freddie Mac Orangeburg County, Richland County, South...

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Net Branch Lawsuits

Litigation involving net branch operations. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story PHH Mortgage Corp. Mathews Supreme Court of Virginia na Court held that the term "branch office" includes not only...

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Whistleblower Lawsuits

Litigation related to loan servicing, including escrow issues, transfer of servicing and servicing borrowers in bankruptcy and foreclosure.   Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Bank of...

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 paperwork has 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 furniture need to...

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...

Newsletter

Don’t worry, we don’t spam