Magazine article Mortgage Banking

Trepp: CMBS Liquidations Fall Sharply

Magazine article Mortgage Banking

Trepp: CMBS Liquidations Fall Sharply

Article excerpt

The volume of commercial mortgage-backed security conduit loans liquidated in February fell a full 43 percent from January, according to Trepp, New York the lowest reading since November 2010.

Liquidations totaled $893 million; 32 percent below the 12-month moving average of $1.31 billion per month. Special servicers have been liquidating at an average rate of Si.08 billion per month since the beginning of 2010.

The losses from the February liquidations were about $228 million, for an average loss severity of 25.55 percent down nearly 14 points from January. February's loss severity reading is well below both the 42.92 percent average loss severity of the past 26 months and the 42.27 percent 12-month rolling average.

In a separate report, Trepp said the percentage of CMBS loans paying off on their balloon date 61.6 percent in February-was the second-best reading since the credit crisis began. February marks only the fourth time since late 2008 that the percentage cracked 50 percent. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.