The reporting of early-stage commercial mortgage-backed security (CMBS) loan delinquencies continued to slow through March, although the overall unpaid balance of delinquent CMBS loans rose slightly during the month. According to remittance data collected by Realpoint, $62.97 billion of CMBS loans were delinquent in March – up from $62.42 billion the month before.
The 90+ day, foreclosure and real estate owned buckets all increased last month, gaining about $722 million.
Loan modification and liquidation activity also increased, which contributed to the reduced principal balance for loans in the 60-day category. Realpoint tracked $4.18 billion of loans in the 60-day bucket in February; last month, the total was $3.82 billion.
Realpoint reports that $1.49 billion in workouts and liquidations took place across 148 loans last month. That's up from $859.3 million in workouts and liquidations across 86 loans one month earlier.
SOURCE: Realpoint
