The delinquent unpaid balance for commercial mortgage-backed securities (CMBS) grew $801.2 million to $62.19 billion in September, Realpoint reports. The increase, while well below the average per-month increase of $3.14 billion seen earlier this year, was larger than the July to August increase of $551.8 million.
The only delinquency categories to decrease in September were the 30-day and 90+ day buckets. Realpoint says that despite loan liquidations, modifications and resolutions – $521.6 million in workouts and liquidations were reported for September – the 90+ day, foreclosure and real estate owned categories, taken together, rose by $1.16 billion from August.
A month earlier, the aggregate amount of late-stage distressed loans fell month over month for the first time in three years.