Magazine article Mortgage Banking

Commercial/multifamily Delinquencies Continue Decline: Delinquency Rates for Commercial and Multifamily Mortgage Loans Continued to Decline in the First Quarter, the Mortgage Bankers Association (MBA) Reported in Its Quarterly Commercial/Multifamily Delinquency Report

Magazine article Mortgage Banking

Commercial/multifamily Delinquencies Continue Decline: Delinquency Rates for Commercial and Multifamily Mortgage Loans Continued to Decline in the First Quarter, the Mortgage Bankers Association (MBA) Reported in Its Quarterly Commercial/Multifamily Delinquency Report

Article excerpt

"Commercial and multifamily mortgage performance continues to improve," said MBA Vice President of Commercial Real Estate Research Jamie Woodwell. "Increasing property incomes, rising property values and a strong finance market are working together to push delinquency rates lower."

The MBA analysis looks at commercial/multifamily delinquency rates for five of the largest investor groups: commercial banks and thrifts, commercial mortgage-backed securities (CMBS), life insurance companies, Fannie Mae and Freddie Mac. Together these groups hold more than 80 percent of commercial/multifamily mortgage debt outstanding.

Based on the unpaid principal loan balance, delinquency rates for each group at the end of the first quarter were as follows:

* Life company portfolios (60 or more days delinquent): 0.06 percent--a decrease of 0.02 percentage points from fourth-quarter 2014;

* Freddie Mac (60 or more days delinquent): 0.03 percent--a decrease of 0.01 percentage points from the fourth quarter;

* Banks and thrifts (90 or more days delinquent or in non-accrual): 1.03 percent--a decrease of 0.11 percentage points from the fourth quarter;

* CMBS (30 or more days delinquent or in real estate-owned [REO]): 5. …

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