CMBA: CRE Late-Pay Ratio Triples -- to .06%

The California commercial loan delinquency ratio tripled in the second quarter, but the rate remained at a near-record low of 0.06%, according to the California Mortgage Bankers Association. The Quarterly Commercial Loan Delinquency Survey found that only seven loans were more than 30 days delinquent, representing $53.9 million of a $96.1 billion servicing portfolio. This represents a delinquency ratio of 0.06%, compared with 0.03% a year ago. Fifteen of the 17 commercial mortgage banking firms reported no loans more than 30 days delinquent. 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.