CMBS Delinquency Rate Resumes Decline

Institutional Investment and Finance   |   Real Estate   |   December 4, 2018
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Carlton Fields Executive Director – Financial Services, Brian Olasov, was quoted the Mortgage Bankers Association Newslink article, “CMBS Delinquency Rate Resumes Decline,” about the continued downward trajectory of the commercial mortgage-backed delinquency rate.
The overall rate for U.S. commercial real estate loans in CMBS now hovers at 3.33 percent, signaling the lowest rate since the financial crisis.
Olasov remarked that our collective perceptions have changed when industry insiders look for signs of cracks in CMBS.
He noted nearly three-quarters of all specially serviced loans are from legacy CMBS, meaning only six-tenths of one percent of CMBS 2.0 loans are in special servicing at the moment.
"At the same time, almost two-thirds of CMBS delinquencies — which includes REO — are in REO form," Olasov stated. "As these REO assets liquidate out of trusts and as legacy loans evaporate, delinquency percentages will continue to drop."
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