According to the Mortgage Bankers Association’s (MBA) latest Commercial Delinquency Report, commercial mortgage delinquencies experienced an increase in the third quarter of 2024. This trend was observed across all types of lenders.
Based on the outstanding loan balance, delinquency rates for each category at the end of Q3 were as follows:
– Banks and thrifts (90 or more days past due or in non-accrual): 1.24%, a rise of 0.09 percentage points from Q2 2024
– Life company portfolios (60 or more days past due): 0.46%, up by 0.03 percentage points from Q2
– Fannie Mae (60 or more days past due): 0.56%, an increase of 0.12 percentage points from Q2
– Freddie Mac(60 or more days past due): .039%, up by just o.o1 percentage point from Q2
-CMBS(30or moe dayd elinquentor REO:5..15%upbyo33percentagepointsfromQ
“The shareofdelinquentcommercialmortgagesincreasedforeverymajorcapitalsourceduringthethirdquarterof2024,”statedJamieWoodwell,MBA’sheadofcommercialrealestateresearch.”Theincreasesvariedbycapitalsourceandweredrivenbytheparticularitiesofeachindividuallloanandproperty.Stressesdifferbypropertytypeandsubtype,geographicmarketandsubmarket,loantype,andvintage,borrowertype,andmore.”
In summary, there has been a rise in commercial mortgage delinquencies across various lender types during the third quarter of2019 according to MBA’s report released recently.
