Trepp, LLC, the leading provider of CMBS and commercial mortgage information, analytics, and technology to the global securities and investment management industry, released its November 2011 U.S. CMBS Delinquency Report today (available at http://www.trepp.com).
Overall in November, the delinquency rate for U.S. commercial real estate loans in CMBS fell 26 basis points to 9.51%. This was the second biggest drop in 2011, surpassed only by August's 36 point drop. The rate has now fallen in four of the eleven months of 2011. The value of delinquent loans is now $58.5 billion.
The delinquency rate is expected to rise in coming months, however, as the 2007 vintage loans that were originated under the weakest underwriting standards start to reach their five-year balloon maturity dates. This will add to the stress that is being put on the delinquency rate by the slow-down in CMBS issuance.
Read more...CMBS Delinquency Rate Retreats in November—Calm Before the Storm
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