Commercial mortgage-backed security (CMBS) loans are going bad at a slower rate, Realpoint reports in its monthly delinquency report. According to the rating agency, the delinquent unpaid principal balance (UPB) for CMBS grew by $387.9 million in July, bringing the total delinquent CMBS UPB to $60.84 billion.
By comparison, the delinquent CMBS UPB grew, on average, by $3.136 billion per month in the first six months of the year.
Early-stage delinquencies fell in July, with the 30-day category decreasing by $3.82 billion. The other four delinquency categories – 60-day, 90-day, foreclosure and real estate owned – grew in aggregate for the 31st consecutive month, increasing by $4.05 billion from June, Realpoint says.
SOURCE: Realpoint