Delinquent UPB For CMBS Jumps 511% Year-Over-Year

The delinquent unpaid balance (UPB) for commercial mortgage-backed securities (CMBS) decreased in July for the first time since August 2008, according to RealPoint's monthly delinquency report. The delinquent UPB totaled $25.68 billion July – down from $28.65 billion in June.

Nearly $4.8 billion of loans sponsored by GGP returned to current payment status following a 30-day delinquent status in June, causing the decline, RealPoint says.

At the end of the month, the UPB was $5.23 billion for 30-day delinquencies, $4.97 billion for 60-day delinquencies, $11.23 billion for 90+ days, $3.05 billion for loans in foreclosure and $2.21 billion for lender-owned properties.

Despite the decline, the delinquent UPB through July 2009 remains up 511% from one year ago, when only $4.2 billion of delinquent balance was reported.

SOURCE: RealPoint


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