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Commercial News » United States Edition | By WPJ Staff | December 1, 2015 12:29 PM ET
According to the Mortgage Bankers Association’s latest Commercial/Multifamily Delinquency Report, delinquency rates for commercial and multifamily mortgage loans continued to decline in the third quarter of 2015.
“Commercial and multifamily mortgages are performing very well,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research. “Delinquency rates for loans held by life companies, Fannie Mae and Freddie Mac are all hovering near zero. Among loans held by banks, the delinquency rate for multifamily loans is now lower than it has been since the series began in 1993, and the delinquency rate for mortgages backed by other commercial properties is down to levels seen before the most recent recession.”
The MBA analysis looks at commercial/multifamily delinquency rates for five of the largest investor-groups: commercial banks and thrifts, commercial mortgage-backed securities (CMBS), life insurance companies, Fannie Mae, and Freddie Mac. Together these groups hold more than 80 percent of commercial/multifamily mortgage debt outstanding.
Based on the unpaid principal balance (UPB) of loans, delinquency rates for each group at the end of the third quarter were as follows:
- Banks and thrifts (90 or more days delinquent or in non-accrual): 0.82 percent, a decrease of 0.08 percentage points from the second quarter of 2015;
- Life company portfolios (60 or more days delinquent): 0.04 percent, a decrease of 0.02 percentage points from the second quarter of 2015;
- Fannie Mae (60 or more days delinquent): 0.05 percent, unchanged from second quarter of 2015.
- Freddie Mac (60 or more days delinquent): 0.01 percent, unchanged from second quarter of 2015;
- CMBS (30 or more days delinquent or in REO): 4.84 percent, a decrease of 0.15 percentage points from the second quarter of 2015;
The analysis incorporates the same measures used by each individual investor group to track the performance of their loans. Because each investor group tracks delinquencies in its own way, delinquency rates are not comparable from one group to another.
Construction and development loans are not included in the numbers presented here, but are included in many regulatory definitions of ‘commercial real estate’ despite the fact they are often backed by single-family residential development projects rather than by office buildings, apartment buildings, shopping centers, or other income-producing properties. The FDIC delinquency rates for bank and thrift held mortgages reported here do include loans backed by owner-occupied commercial properties. –
See more at: http://www.worldpropertyjournal.com/real-estate-news/united-states/mortgage-bankers-association-commercial-multifamily-delinquency-report-2015-jamie-woodwell-mortgage-delinquency-rates-fdic-mortgage-news-cmbs-data-9529.php#sthash.xYG2RYqU.dpuf
Phoenix Commercial Real Estate and Investment Real Estate: investors and Owner / Users need to really know the market today before making a move in Commercial Properties or Commercial Investment Properties in Phoenix / Tucson / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and Residential Land in Phoenix / Tucson / Arizona. Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties in Phoenix / Tucson / Arizona, and Commercial Land or Residential Land in Phoenix / Tucson / Arizona.
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Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix.
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. I am also a commercial land specialist in Phoenix and a Landspecialist in Arizona. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
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