The performance of commercial and multifamily mortgages continued to improve during the fourth quarter, according to data from the Mortgage Bankers Association.
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Furthermore, mortgages guaranteed by Fannie Mae and Freddie Mac, as well as those held by life insurance companies, all have 60 or more day delinquency rates below one-tenth of a percent. For example, the MBA said multifamily loans insured by Fannie Mae that are 60 or more days delinquent dropped four basis points, to 0.05%. Meanwhile, 60-day delinquencies for both Freddie Mac multifamily loans and life company portfolio portfolios increased, respectively, by one basis point and three basis points, to 0.04% and 0.08%.
Additionally, the 90-day delinquency rate for loans held by FDIC-insured banks and thrifts declined 15 basis points, to 1.14%, the MBA said.
Overall, these five investor groups hold more than 80% of commercial and multifamily mortgage debt outstanding, according to the MBA.
