in News > Commercial Mortgage
print the content item


Late-pays on commercial real estate loan collateralized debt obligations delinquencies (CREL CDOs) increased to 13.1% in February from 12.7% in January, according to new data from Fitch Ratings. However, the total dollar balance of delinquent assets rose only minimally.

Fitch Ratings reports that since January, the total collateral balance has decreased by approximately $350 million (2.3%). Fitch Ratings expects the total collateral balance to decline further as asset managers continue to resolve loans and pay down the transaction liabilities. 

Only five new delinquencies were reported in February, totaling $31 million. Among them were three matured balloons, one term default and a newly credit-impaired security. The largest new delinquency was a whole loan secured by a hotel located proximate to Rhode Island's T.F. Green International Airport, which matured in the reporting period without repayment.

In February, asset managers reported only $7.4 million in realized principal losses from the disposal of three assets. The largest reported loss was a 17% realized loss on the discounted payoff (DPO) of a defaulted whole loan secured by a portfolio of office properties located in San Antonio. Continued litigation prevented the asset manager from foreclosing on the property, and a DPO was negotiated.

A total of 28 Fitch-rated CREL CDOs reported delinquencies ranging from 0.3% to 66.4% last month. In total, 41% of Fitch-rated CREL CDOs were failing at least one overcollateralization test in February.


Six important questions you need to ask about your compliance process. Click to download the buyers guide._id1144


Latest Top Stories

NAR: Existing-Home Sales Stagnant In March

Lawrence Yun, chief economist for NAR, says the trend is troubling because "there really should be stronger levels of home sales given our population growth."


RealtyTrac: 9.1 Million Homes Still Seriously Underwater In Q1

Although home values have increased more than 12% on average during the past year, there were still about 9.1 million properties "seriously underwater" as of the first quarter, according to RealtyTrac’s U.S. Home Equity & Underwater Report.


Greenwich Estate Sells For Record $120 Million

Copper Beech Farm, a 51-acre property and mansion located on the waterfront in Greenwich, Conn., hit the market last spring with an asking price of $190 million.


AMCs Generally Receptive To Proposed 'Minimum Requirements' Rule

The rule would require all AMCs that operate in states that have supervisory programs to register in those states and to allow those states to have authority over their licensing.


Major Metros Showing 'Early Signs' Of A Housing Bubble

Among the 35 largest metros nationwide, more than half of homes currently listed for sale are considered unaffordable by historical standards, according to a recent report from Zillow.

LenderLive_id1164
Hse SandyHook
Play for Pink
Orb Mobile
FedHomeLoan_id1130
Superior Home_id1078
SWBC_id1156