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Trepp: CMBS Delinquency Rate Increases Yet Again

Real Estate   |   May 4, 2017

Carlton Fields Executive Director of Financial Services Consulting, Brian Olasov, was quoted in the MBA Newslink article, “Trepp: CMBS Delinquency Rate Increases Yet Again.” The article explains the continuous growth of commercial mortgage-backed securities delinquency rate.

 Olasov commented:

The market is witnessing ‘adverse selection’ as the loans that could have refinanced have already done so. We also have three immediately supportive trends in our favor and one longer term. First, balloon loans are still being taken out at higher than estimated rates. Second, there are indications that CMBS volume is starting to pick up, which mitigates the effect of diminishing CMBS outstanding. Third, even though net operating income growth has slowed measurably across most property types, it's still growth; the real estate recovery continues.

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