MBA: Mixed Q1 Picture On Commercial, Multifamily Delinquency Rates

Posted by Orb Staff on June 05, 2012 No Comments
Categories : Commercial Mortgage

11710_cre_drawing MBA: Mixed Q1 Picture On Commercial, Multifamily Delinquency Rates Commercial and multifamily mortgage delinquency rates dropped for banks and rose for commercial mortgage-backed securities (CMBS) during the first quarter of this year, according to new data from the Mortgage Bankers Association (MBA). Furthermore, commercial real estate delinquency rates declined for life insurance companies and Fannie Mae during the first quarter, and increased by 0.01 percentage points for Freddie Mac.

During the first quarter of this year, the 60-plus day delinquency rate for commercial and multifamily mortgages held in life insurance company portfolios decreased 0.03 percentage points to 0.14%. The 60-plus day delinquency rate for multifamily loans held or insured by Fannie Mae decreased 0.22 percentage points to 0.37%.Â

The 90-plus day delinquency rate for loans held by Federal Deposit Insurance Corp.-insured banks and thrifts decreased 0.13 percentage points to 3.44%. The 60-plus day delinquency rate for multifamily loans held or insured by Freddie Mac increased 0.01 percentage points to 0.23%. The 30-plus day delinquency rate for loans held in commercial mortgage-backed securities (CMBS) increased 0.29 percentage points to 8.85%.

The first-quarter 2012 delinquency rate for commercial and multifamily mortgages held in life insurance company portfolios was 7.39 percentage points lower than the series high (7.53%, reached during the second quarter of 1992). The delinquency rate for multifamily loans held by Freddie Mac was 6.58 percentage points lower than the series high (6.81%, reached in the fourth quarter of 1992). The delinquency rate for multifamily loans held by Fannie Mae was 3.25 percentage points below the series high (3.62%, reached during the fourth quarter of 1991).Â

The rate for commercial and multifamily mortgages held by banks and thrifts was 3.14 percentage points lower than the series high (6.58%, reached in the second quarter of 1991). The rate for loans held in CMBS was 0.17 percentage points below the series high (9.02%, reached in the second quarter of 2011).

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