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MBA: Commercial, multifamily delinquencies keep dropping

Chart shows impressive downward decline

Delinquency rates for commercial and multifamily mortgage loans continued to decline in the first quarter of 2015, according to the latest Mortgage Bankers Association Commercial/Multifamily Delinquency Report.

“Commercial and multifamily mortgage performance continues to improve. Increasing property incomes, rising property values and a strong finance market are working together to push delinquency rates lower,” said Jamie Woodwell, MBA’s vice president of commercial real estate research. 

The report collects data from the commercial/multifamily delinquency rates for five of the largest investor-groups: commercial banks and thrifts, commercial mortgage-backed securities, life insurance companies, Fannie Mae and Freddie Mac

As a whole, these groups hold more than 80% of commercial/multifamily mortgage debt outstanding.

Here are the delinquency rates for each group at the end of the first quarter:

  • Life company portfolios (60 or more days delinquent): 0.06%, a decrease of 0.02 percentage points from the fourth quarter of 2014;
  • Freddie Mac  (60 or more days delinquent): 0.03%, a decrease of 0.01 percentage points from the fourth quarter of 2014;
  • Banks and thrifts (90 or more days delinquent or in non-accrual): 1.03%, a decrease of 0.11 percentage points from the fourth quarter of 2014;
  • CMBS (30 or more days delinquent or in REO): 5.17%, a decrease of 0.19 percentage points from the fourth quarter of 2014;
  • Fannie Mae (60 or more days delinquent): 0.09%, an increase of 0.04 percentage points from the fourth quarter of 2014.

Click to enlarge 

MBA

Source: MBA

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