A little more than a year after peaking at 10.34%, the delinquency rate for CMBS has dropped below 8%, Trepp said Thursday. An impending $2.5-billion sale of distressed assets by CWCapital could bring the late-pay rate down further in the next couple of months.
"In addition to the distressed assets that were recently identified for sale, a large number of note sales are also expected from the servicer," says Manus Clancy, senior managing director of Trepp. "As CW stated that it is looking to sell these before year-end, this could result in the removal of a number of loans from the delinquent category over the next 60 days."
Read more...CMBS Late-Pays Dip Below 8% - Daily News Article - GlobeSt.com