2005 to 2007 loans drive recent CMBS losses

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Since January 2010, the losses from loans that had been part of a commercial mortgage-backed security package, but were then liquidated, have been staggering. The chart above from loan data specialists Trepp shows the bulk of the losses come from the peak lending years of the boom, from 2005 to 2007. The bars show the total value of the loans that were liquidated over the past 19 months, split into the portion of the principal that was recovered (in green) and the portion that was lost (in orange). — Adam Pincus