The delinquency rate for commercial and multifamily mortgages continued to improve for most categories of investors in the second quarter, continuing a trend from the first quarter, according to the Mortgage Bankers Association.
The following investor groups reported improvements in second-quarter delinquency rates, on a quarterly basis,
• Banks and thrifts, for loans at least 90 days past due or in nonaccrual status, down by 0.13 percentage points to 0.9%.
• Fannie Mae, for loans at least 60 days past due, down by 0.04 percentage points to 0.05%.
• Freddie Mac, for loans at least 60 days past due, down by 0.02 percentage points to 0.01%.
• Commercial mortgage-backed securities, for loans at least 30 days past due or in REO status, down 0.17% to 5%.
Life insurance companies' portfolios were unchanged at 0.06% delinquent, for loans at least 60 days past due.
"As commercial property incomes and values continue to climb, and financing remains plentiful, loan performance continues to improve as well," Jamie Woodwell, the MBA's vice president of commercial real estate, said in a Wednesday news release.
The delinquency rates are based on the unpaid principal balance of loans, at the end of the second quarter.
