The California commercial loan delinquency ratio was below one-half of 1% in the third quarter for the 24th consecutive quarter, according to the California Mortgage Bankers Association.The Sept. 30 Quarterly Delinquency Survey found that 99.8% of the California commercial real estate loans serviced by 18 mortgage banking firms were either current or delinquent by only one payment. This represents a delinquency ratio of 0.24%, compared with 0.33% three months ago and 0.24% a year ago. Sixteen of the 18 companies reported no loans more than 30 days delinquent. Of the $60.7 billion of loans being serviced by the 18 mortgage bankers, 15 loans totaling $143.1 million were two or more payments past due. The 15 delinquent loans represent 0.15% of the 9,884 commercial real estate loans included in the survey. For survey purposes, a loan is considered delinquent if it is two or more payments past due, although loans in foreclosure are included regardless of the number of payments past due. The CMBA, based in Sacramento, can be found online at http://www.cmba.com.
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April 18