The delinquency rate for commercial real estate conduit loans was 8.14% in September, the fourth consecutive month of decline, said Trepp LLC. This is down
It is the lowest delinquency rate Trepp has seen since July 2010.
There were $1.7 billion of new delinquent commercial mortgage-backed securities loans in September, down from $2.5 billion for August. Currently there are $44 billion of delinquent conduit loans. This does not include loans that are past their balloon date but current on their interest payments.
More than offsetting the new delinquencies is that $1.9 billion of previously delinquent loans cured in September. There were also $873 million of loan resolutions during the month.
“The CMBS market managed to shrug off concerns over QE tapering, Syria and impending government budget issues in September. Supporting the improvement in the rate was a slowdown in new delinquencies and the additions of new deals to the overall loan pool,” said Manus Clancy, senior managing director at Trepp.
