CMBS Delinquency Rate Triples From a Year Ago, Passes 7%: Realpoint

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 · cmbs loan delinquencies – a problem growing every month at a staggering rate. According to the Monthly Delinquency Report issued by Realpoint a few days ago, the total outstanding amount of cmbs (commercial mortgage backed Securities) tracked by.

CMBS Delinquency Rate Triples From a Year Ago, Passes 7%: Realpoint Assuming ongoing monthly pay-down and liquidation activity, if such delinquency average were increased by an additional 25% growth rate, and then carried through the second quarter 2010, the delinquent unpaid balance would reach $62.8 billion and reflect a delinquency.

US commercial property prices fall close to bottom, according to analysts. Analytics firm Realpoint found delinquency rates on these loans that have been securitized, CMBS, reached 7.79% in July, more than two times the 3.15% reported a year ago. It is also more than 27 times the recorded low point, a 0.28% delinquency rate in June 2007.

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Most commercial real estate loans are amortized over 20 to 25 years, and they have a large balloon payment due after either five or ten years. When Lehman Brothers collapsed in September of 2008, the market for commercial mortgage-backed securities (cmbs) also collapsed.

With 13 percent total delinquency included in the 2007 vintage, more than 48 percent of CMBS delinquency in August came from 2005-2007 vintage transactions, Realpoint’s research said. Nearly 1.4 percent of 65,028 CMBS loans in Citigroup’s universe included delinquencies of 30, 60 and 90 days, one foreclosure and loans for special servicing.

Another $1.9 billion of CMBS loans became delinquent in February, bringing the total volume of delinquent loans to $47.8 billion, or 6% of the total universe tracked by Realpoint. That compares with a rate of 5.76% a month earlier. If you exclude agency loans and those that are less than a year old, the delinquency rate in February was 6.32%.

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Another $1.9 billion of CMBS loans became delinquent in February, bringing the total volume of delinquent loans to $47.8 billion, or 6% of the total universe tracked by Realpoint. That compares with a rate of 5.76% a month earlier. If you exclude agency loans and those that are less than a year old, the delinquency rate in February was 6.32%.