The delinquency rate for conduit loans improved by 18 basis points in January to 7.25%, but the number of newly delinquent loans increased on a month-to-month basis, Trepp LLC found.
When compared with January 2013, the delinquency rate improved by 232 basis points. The last time there was a month-to-month increase in the delinquency rate was in May 2013.
There are currently $39 billion of delinquent mortgages securing commercial mortgage-backed securities; another $48 billion are with a special servicer.
During January over $1 billion of previously delinquent loans were resolved with losses. There was also nearly $1 billion of loans which cured.
But there was $1.8 billion of new delinquencies, an increase of $200 million from December's total.