MBA: Commercial, Multi-Family Delinquencies Fell in First Quarter

by devteam June 6th, 2012 | Share

The Mortgage Bankers Association said today that commercialrnand multi-family delinquencies for most of the investor groups it tracksrndeclined during the first quarter of 2012 compared to both the previous quarterrnand the first quarter of 2011.  The one exceptionrnwas commercial mortgage backed securities (CMBS) which had a rate, includingrnmortgages 30+ days late and real estate owned (REO) of 8.85 percent.  The rate at the end of the previous quarterrnwas 8.56 percent.  It had been one basisrnpoint higher, 8.86 percent, at the end of Q1 2011. </p

Banks and thrifts had a 90+ day rate of 3.22 percentrnin the first quarter compared to 3.57 percent in the fourth quarter of 2012 andrn4.21 percent in the first quarter of 2011. rnThe rate for life insurance mortgage holdings (60+ days) was 0.14rnpercent, unchanged from a year earlier but down from 0.17 percent in the lastrnquarter of 2012.  Multi-family delinquenciesrnof more than 60+ days held by Fannie Mae dropped from 0.59 percent in thernfourth quarter to 0.37 percent.  One yearrnearlier the rate was 0.64 percent.  FreddiernMac’s multi-family delinquency rate, also based on 60+ days was 0.23 percent,rnone basis point higher than in the fourth quarter but substantially improvedrnfrom 0.36 percent one year earlier.</p

The fivernlargest investor-groups tracked by MBA together hold more than 80 percent of commercial/multifamilyrnmortgage debt currently outstanding.</p

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About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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