MBA: Commercial Overdues Up, but Still Low

Commercial and multifamily mortgage delinquencies rose in the first quarter for most major investor groups but remained near record lows, according to the Mortgage Bankers Association. The MBA reported delinquency rates for the five largest investor groups: commercial banks and thrifts, commercial mortgage-backed securities, life insurance companies, Fannie Mae, and Freddie Mac. The 30-plus-day delinquency rate on loans held in CMBS rose 0.08 percentage points to 0.48%, while the 60-plus-day delinquency rate on loans held in life company portfolios remained flat at 0.01%, the MBA said. The 60-plus-day delinquency rates on multifamily loans held or insured by Fannie Mae or Freddie Mac rose to 0.09% for Fannie and to 0.04% for Freddie. The 90-plus-day delinquency rate on loans held by banks and thrifts insured by the Federal Deposit Insurance Corp. rose 0.21 percentage points to 1.01%, the association reported.