Fitch: CMBS Overdues Rise

Delinquencies on U.S. commercial mortgage-backed securities rose in November, climbing 3 basis points to 0.31%, according to Fitch Ratings.For the fifth month in a row, the multifamily sector experienced a rise in delinquencies. Michelle Bayard, a Fitch director, said 87.0% of the newly delinquent multifamily loans were concentrated in Texas, up from 51.5% in October. "The newly delinquent multifamily loans include 17 loans representing 55% with the same principal borrower, all of which are secured by properties located in Texas," Ms. Bayard said. The only other sector in which delinquencies increased was industrial, which ended November with $63.2 million in delinquent loans, up 33.3% from $47.4 million in October. Fitch can be found on the Web at http://www.fitchratings.com.