CMBS Delinquency Rates Drop for Seventh Straight Month

January marked the seventh consecutive month that the Trepp CMBS Delinquency Rate dropped, according to an article in Asset Securitization Report on February 2nd. The report notes that since June 2017, the rate has fallen by 92 basis points, mostly due to the fact that loans originated during the bubble years of 2006 and 2007 have matured. The Trepp CMBS Delinquency Reported specifically stated that "there were actually more new delinquencies in January than loans that were cured and resolved, which indicates that the rate could have swelled slightly. However, the surge of new issuance in the second half of 2017 helped increase the number of performing loans substantially." The only property specific delinquency increases were in the retail and hotel loan segments of the CMBS market, while the biggest decline was in offices, proceeded by multifamily properties, apartment loans, and industrial properties.

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