CMBS Delinquencies and Special Servicing Hit Record Highs

On top of the previously announced record delinquency rate for Fannie, here comes some even worse news out of commercial real estate, which together with record high downtown vacancy rates, should be enough to push all REITs to 1052 week highs tomorrow. RealPoint has just released its March CMBS delinquency data, according to which delinquencies hit an all time high 6%.

Week in Review: CMBS & CMBX Spreads Widen as Stocks Hit New Record Highs. The three major US stock indexes rose to record highs on Tuesday and Wednesday, as concerns over potential Hurricane Irma damage and geopolitical uncertainty from North Korea tapered throughout the week.

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Fitch: Amid Record High, New Issuance May Temper CMBS. – U.S. commercial mortgage-backed security (CMBS) delinquencies climbed to a new record high this past month, though the rising influx of new issuance may help to stem future late-pay increases, according to the latest index results from Fitch Ratings. Late-pays rose 17 basis points (bps) to close out February at 8.76%, surpassing the index’s previous high [.]

“Moral hazard may become an issue as borrowers begin to claim dire straits’ with the hope of having their loan terms modified by the special servicer,” he. surge would not last. Delinquencies on.

CMBS Delinquencies Rise to Record High in July –  · CMBS Delinquencies Rise to Record High in July. About. People;. For example, if a special servicer is considering a loan modification, it is now standard practice for them to also initiate the foreclosure process to expedite matters in case that modification doesn’t occur. This drives up the delinquency rate.

The delinquency rate for commercial mortgage-backed securities (CMBS) loans hit a record 8.02% in April, according to New York-based data firm Trepp LLC. A year earlier, the delinquency rate was 2.

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US CMBS loans are also transferring to special servicing status faster and greater than ever before. CMBS Delinquencies and Special Servicing Hit Record Highs Sign In

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CMBS Delinquencies Dip In May The delinquency rate of loans in U.S. commercial mortgage-backed securities 30 days or more overdue inched down 5 basis points in May to 9.60% after reaching a record.

CMBS Delinquencies Rise to Record High in July, But With a Caveat. a 110-building residential complex in Manhattan, was taken back by special servicer CW Capital in 2010. The owners ran intro.