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Delinquency rates for commercial-mortgage loans were relatively flat in the third quarter of 2017, according to the Mortgage Bankers Association.
“It is hard to imagine commercial mortgages performing better than they are today,” said Jamie Woodwell, the MBA’s vice president for commercial and multifamily real estate research, in a press release. “The delinquency rate for loans held in bank portfolios matches the lowest ever recorded in the 24-year history of the series. Strong property fundamentals and values and ready credit availability are all helping contribute to this extraordinary performance.”
Based on the unpaid principal balance of loans, MBA calculates that delinquency rates at the end of the third quarter were as follows:
Banks and thrifts (90 days delinquent or more, or in nonaccrual) — 0.52 percent, a decrease of 0.02 percentage points from the second quarter of 2017
Life company portfolios (60 days delinquent or more) — 0.02 percent, a decrease of 0.02 percentage points from the second quarter of 2017
CMBS (30 days delinquent or more, or in REO) — 4.61 percent, a decrease of 0.23 percentage points from the second quarter of 2017
The analysis incorporates the measures used by each individual investor group to track the performance of their loans. Because each investor group tracks delinquencies in its own way, delinquency rates are not comparable from one group to another.
By Brannon Boswell
Executive Editor, Commerce + Communities Today
