in News > Commercial Mortgage
print the content item


U.S. commercial real estate loan collateralized debt obligations (CREL CDOs) late-pays fell for a second straight month to 12.7% in January, from 13.4% the prior month, according to data from Fitch Ratings.

New delinquent assets in January consisted of two term defaults, one matured balloon loan and one credit impaired security. The largest new delinquency was a term default on a B-note and mezzanine debt backed by a 410,000 square foot office building in Atlanta.

In January, asset managers reported approximately $50 million in realized principal losses from the disposal of several assets. The largest reported loss was a 33% realized loss on the discounted sale of a 350,000 square foot real estate owned office property located in San Diego that was foreclosed on in December 2011; the loss was anticipated at last rating action for the transaction.

A total of 28 CREL CDOs rated by Fitch Ratings reported delinquencies ranging from 0.3% to 66.4% last month.  In total, 41% of the rated CREL CDOs were failing at least one over-collateralization test in January.


Interthinx has Your Blueprint for Quality_1375


Latest Top Stories

Uniting For Quality Appraisals

How AMCs and appraisers are collaborating to ensure accurate, quality property valuations.


Five Things Servicers Can Do Now To Improve Customer Satisfaction

It's a worthy goal, not just because it will satisfy regulators but also because it can yield measurable savings for the servicer's contact center.


Fannie, Freddie Lower Down Payment Requirements

The GSEs are now accepting conventional mortgages with a down payment of as little as 3%.


Zillow: First-Time Home Buyers Will Lead Recovery In 2015

Stan Humphries, chief economist for Zillow, says he expects "the allure of fixed mortgage payments and a more stable housing market will entice many more otherwise content renters into the housing market."


New Home Sales Rose Slightly In October

It was the fifth consecutive month that the U.S. Census Bureau and U.S. Department of Housing and Urban Development downwardly revised the previous month's new home sales estimate.

Urban Lending_id1351
Hse SandyHook
Industry Resource
Orb Mobile
MBA-TX_id
SWBC_id1313