Commercial and multifamily mortgage delinquency rates fell in the first quarter of 2012 for most of the top investor groups except one: commercial mortgage-backed securities.
According to figures compiled by the Mortgage Bankers Association and released Tuesday, loans included in commercial mortgage-backed securities had an 8.85% delinquency rate at the end of March, compared to 8.56% at yearend. However, a year ago 8.86% of loans included in these securities were delinquent.
The delinquency rate for mortgage-backed securities covers mortgages that are 30 or more days late, including those in foreclosure and real-estate owned properties.
Read more...Commercial Delinquencies Falling, Except for CMBS - American Banker Article