$46B in CMBS Balances Now Delinquent
March 3, 2010
RealPoint’s February report is out and things continue to get worse on the CMBS front. Not only is the oustanding CMBS loan amount huge, but the rate of growth is staggering. The amount of distressed 90+ day loans rose 28% in one month.
In January 2010, the delinquent unpaid balance for CMBS increased by another $4.3 [...]
Macklowe’s Back as CMBS Delinquencies Continue To Rise
January 6, 2010
After suffering some pretty big losses over the past two years, Harry Macklowe is back. This time he has teamed up with CIM Group to take control again of the development site on Park Avenue in New York.
The partnership between Macklowe and CIM will pay off about $510M of debt on the site, which was [...]
CMBS Delinquency Rate Continues To Rise; Inland Western Issues $500M CMBS Deal
December 10, 2009
CMBS loans delinquent beyond 30-days now stands at about 4.47% according to Moody’s. The low was reached in late 2007, at .22%. The number is up 46 basis points month-over-month. Hit the hardest is the hospitality sector, where the delinquency rate is at 7.8%.
In other news, JPMorgan sold off $500M of CMBS for Inland Western.
Inland [...]
1 in 6 FHA Loans Delinquent
November 19, 2009
One in six FHA loans are delinquent, and a full 3.32% of them were in foreclosure. This is the highest number since 1979. Based on all the crazy FHA lending that has also taken place, we’d venture that this number is only going to get worse.
The share of all types of mortgages with one or [...]
Nearly 20% of Construction Debt is Delinquent
October 26, 2009
There are a number of data providers who put out estimates for commercial delinquencies, so the numbers are not entirely consistent in news reports. Nevertheless, according to a Globe St. article and a local provider of data, 4.7% of commercial loans are past the 60-day delinquent mark, and increasing.
The total delinquency rate for commercial mortgages [...]
Commercial/Multi-Family Delinquency Rates Continue Hike Up
September 11, 2009
The Mortgage Banker’s Association released second quarter delinquency rate numbers for all commercial and multi-family groups. Loans falling under the umbrella of CMBS and those made by bank’s and thrifts are seeing rapid increases in delinquency rates while Freddie, Fannie, and life company loans are holding up fairly well.
Between the first and second quarters, the [...]
CMBS Delinquency Forecast At 5%+ By End of Year
August 10, 2009
According to Fitch, CMBS delinquencies are increasing at a rate of $2 Billion per month. July delinquencies stood at 3.04%, the highest since 2001 when they began being tracked by Fitch. At the current clip, the delinquency rate could be at 5% by the end of the year, and into the six’s in 2010.
Some analysts, [...]
Nervously Watching Delinquencies
May 13, 2009
An article in the LA Times today sheds light on the mounting troubles at regional banks. Over the past several years a lot of smaller regional banks got themselves heavily entrenched into financing commercial property and construction.
A number of banks have already gone under, but many more are just beginning to feel the pain. Take [...]
Deutsche Bank Q1 CRE Outlook
May 10, 2009
I was going through old documents and came across Deutsche Bank’s Q1 commercial real estate outlook. It’s about two months old now, but it has some good info so I figured better to post it late than never. The file, which is embedded below, contains some very good data on CMBS, loan maturities, and a [...]
Read More >>More Delinquency Data; This Time on Construction Loans
May 8, 2009
The WSJ has an article discussing some residential projects Swig Co. has going in NYC. The article isn’t that interesting, except that it contains some data on construction loan delinquency rates.
According to the data, some 32% of construction loans on condo projects are more than 30-days past due. On non-residential commercial construction loans, delinquency rates are some [...]
