U.S. CMBS delinquencies rose for the second straight month while the volume of real estate-owned (REO) assets continued to climb, according to the latest index results from Fitch Ratings.
Late-pays rose 10 basis points (bps) in April to 8.53% from 8.43% in March. This was largely expected with five-year loans originated in 2007 now starting to come due.
Another notable trend is the increased amount of REO assets, which are making up a larger share of the index. REO assets climbed again and now represent one-third of all delinquencies, reaching $11.1 billion in scheduled loan balance in April.
Read more...TEXT-Fitch:REOs now reach one-third of all U.S. CMBS delinquencies | Reuters
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