The quarterly performance of commercial real estate loans was better nearly across the board, and the securitized sector led the improvement.
Thirty-day delinquency on loans included in commercial mortgage-backed securities was 4.84 percent as of the third quarter.
CMBS delinquency improved from a downwardly revised 4.99 percent three months earlier and was the lowest it’s been since the third-quarter 2009, when it came in at an upwardly revised 4.07 percent, according to historical data maintained by Mortgage Daily.
The
Mortgage Bankers Association reported the latest statistics in its third-quarter 2015 Commercial/Multifamily Delinquency Report.
A year earlier, the 30-day rate was 5.60 percent on CMBS loans.
As of Oct. 31, 2015, CMBS 30-day delinquency has fallen another 15 basis points
from the end of September, according to a report from Trepp LLC.
MBA’s data indicate that 90-day delinquency on CRE loans owned by banks and thrifts stood at 0.82 percent as of the third-quarter 2015.
Bank CRE loan delinquency was down from 0.90 percent at the end of the second quarter and 1.28 percent at the same point in 2014.
Commercial mortgages owned by life insurance companies had a 60-day delinquency rate of 0.04 percent, improving two BPS on a quarter-over-quarter basis and down a single basis point on a year-over-year basis.
The 60-day rate on multifamily loans owned or managed by Fannie Mae was 0.05 percent as of the most-recent date, the same as in the second quarter but four BPS lower than in the third-quarter 2014.
Fannie’s multifamily delinquency has since worsened to 0.07 percent as of October, according to a monthly operational summary from the Washington-based company.
At rival Freddie Mac, multifamily 60-day delinquency
was 0.01 percent, no different than at the end of the second quarter. Freddie’s multifamily rate was 0.03 percent in the third-quarter 2014.
