The successful resolution of commercial real estate loans securitized in 2006 was behind a drop in delinquency. But hotel loans didn’t participate in the improvement.
On loans that are included in commercial mortgage-backed securities, delinquency of at least 60 days concluded November at 6.30 percent.
CMBS loan performance improved compared to the preceding month, with the 60-day delinquency rate retreated 4 basis points.
Moody’s Investors Service reported the metrics based on its Moody’s Delinquency Tracker. Moody’s rates $336 billion in CMBS.
The New York-based ratings agency attributed the improvement “mainly to the resolution of delinquent loans from the 2006 vintage.”
Sixty-day delinquency on multifamily CMBS loans sank 21 BPS from October to 2.54 percent — the lowest rate of any loan type.
The rate on securitized office building loans fell 11 BPS last month to 8.47 percent — the highest rate of any property type.
The only property type to experience deterioration was hotel, with securitized hotel loan delinquency surging 25 BPS to 4.61 percent as of Nov. 30.
