Commercial and multifamily mortgage delinquency rates continued to drop for banks and rise for commercial mortgage backed securities (CMBS) during the second quarter of 2012. Delinquency rates also declined for Fannie Mae during the second quarter, and increased by 0.01 percentage points for life companies and 0.04 percentage points for Freddie Mac according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report.
“Commercial and multifamily delinquency rates for life companies, Fannie Mae and Freddie Mac all remain quite low, and the delinquency rate for bank-held loans continues to decline,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research. “The delinquency rate for loans in CMBS continues to show higher and more sustained aggregate delinquency rates, much of which is driven by the large share of these loans in foreclosure or REO.”
Read more...MBA Reports That Commercial and Multifamily Mortgage Delinquency Rates Drop For Banks But Rise For CMBS | LoanSafe
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