Magazine article Mortgage Banking

CA Commercial Delinquency Rate below I Percent

Magazine article Mortgage Banking

CA Commercial Delinquency Rate below I Percent

Article excerpt

ACCORDING TO THE SACRAMENTO, CALIFORnia-based California Mortgage Bankers Association's (CMBA's) Dec. 31, 2003, Quarterly Delinquency Survey, California's commercial loan delinquency ratio is below one-half of 1 percent for the 21st consecutive quarter. The delinquency ratio was 0.35 percent compared with a delinquency ratio of 0.29 percent in September 2003, and 0.14 percent in December 2002. The survey found 99.65 percent of the California commercial real estate loans serviced by 18 mortgage banking firms were either current or only one payment delinquent. Seventeen of the 18 companies reported no loans were more than 30 days delinquent.

Of the $59.8 billion of loans being serviced by the 18 California commercial mortgage bankers, $212 million, consisting of 21 individual loans, was two or more payments past due. The three largest loans, representing 40 percent of this total, were a $34.4 million loan on an office building, a $32. …

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