Life company mortgage investment delinquencies are at their lowest levels in over 28 years, a survey by the American Council of Life Insurance has found.The rate as of the end of the second quarter was 0.88%, down 6 basis points from the first quarter's 0.94%. Delinquencies on commercial mortgages, which make up 92% of life company mortgage investments, fell 5 bp from the first to the second quarter to 0.80%. This happened in spite of increases in delinquencies in five of the seven types of commercial investments. The delinquency rate improvement can be in part attributed to the foreclosure on $152 million of retail loans previously classified as delinquent, ACLI said.
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