The delinquency rate of loans in commercial mortgage-backed securities bounced higher in December and remained above 9% all year.
Moody's Investors Service said the rate rose to 9.32% last month from 9.27% in November and from 8.79% a year earlier. (Click on chart to expand.)
The ratings agency said there were $3.7 billion of newly delinquent loans in December, including Bank of America Plaza in Atlanta, while $3.5 billion were resolved or worked out. The $1.4 billion of new CMBS deals was more than offset by $5.5 billion of seasoned loan dispositions and payoffs, pushing the CMBS universe to $582.8 billion, analysts said.
Read more...Moody's: CMBS delinquency rate higher than 9% through 2011 « HousingWire