CMS delinquency rates fall for 12 straight months

Delinquency rate in May declines 17 points to 6.27 percent

TRD New York /
May.May 30, 2014 05:35 PM

The delinquency rate for securitized commercial mortgages fell for the twelfth consecutive month in May, capping off a year of steady improvement.

Trepp reports the commercial mortgage-backed securities delinquency rate fell 17 basis points to 6.27 percent in May from a month earlier. The May reading is nearly three percentage points lower than the year ago period of 9.07 percent and well below the peak of 10.35 percent in in July 2012, reports GlobeSt.

Trepp reported $1.3 billion in new delinquencies, $1 billion in resolutions and $800 million in cured loans in May. That brings the balance of delinquent loans to $33.6 billion from $34.1 billion a month ago.

“The CMBS market continues to just plug along nicely,” Manus Clancy, senior managing director at Trepp, told GlobeSt. He added that “the resolution of defaulted legacy loans continue to push the delinquency rate lower.”

Last year, lenders doubled their issuance of CMBS on loans in New York City to $12 billion. [GlobeSt.]Tom DiChristopher


Related Articles

arrow_forward_ios
(Getty, iStock)

Cash-strapped borrowers are increasingly giving keys back to lenders

Cash-strapped borrowers are increasingly giving keys back to lenders
161 Maiden Lane and Fortis CEO Jonathan Landau (Google Maps; Fortis)

Construction loan tied to “leaning” Seaport condo up for sale

Construction loan tied to “leaning” Seaport condo up for sale
Kroll Bond Rating Agency founder Jules Kroll (Getty; iStock)

Kroll reaches $2M SEC settlement over CMBS, CLO ratings

Kroll reaches $2M SEC settlement over CMBS, CLO ratings
Starwood's Barry Sternlicht and Pacific Retail's Steve Plenge with Parkway Plaza mall in San Diego and the Plaza West Covina mall in Los Angeles (Getty, Starwood, Pacific Retail)

Last bidder standing has big plans for Starwood’s troubled mall portfolio. But first, creditors must sign off

Last bidder standing has big plans for Starwood’s troubled mall portfolio. But first, creditors must sign off
Jared Chupaila, CEO of Brookfield Properties’ retail group, with Florence Mall and Fashion Square (Brookfield, TripAdvisor, iStock)

Brookfield and Namdar plan to hand over keys to struggling malls

Brookfield and Namdar plan to hand over keys to struggling malls
With about $23 billion of hotel-related CMBS loans in forbearance, more lenders are looking to offload those mortgages. (iStock)

Hotel industry is in trouble and more lenders want out

Hotel industry is in trouble and more lenders want out
Matt Salem, KKR head of real-estate credit (Getty; KKR)

Hotel and retail mortgages dragging down recovery

Hotel and retail mortgages dragging down recovery
The special servicing rate has increased each month since the coronavirus pandemic hit the United States, and clocked a 55 basis point increase to 10.04 percent in August (iStock)

CMBS delinquencies fell, but hold the applause

CMBS delinquencies fell, but hold the applause
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...