September CMBS Update: Total Delinquencies Up, 90+ Days Down (RealPoint)

RealPoint has their September CMBS (Commercial Mortgage Backed Securities) Delinquency report up for the month of August at Realpoint.com. Key points from the executive summary.
"In August 2010, the delinquent unpaid balance for CMBS increased by an additional $551.8 million, up to $61.39 billion from $60.84 billion a month prior."

"Outside of a $1.37 billion decrease in the 90+-day category, the remaining four delinquency categories each increased, fueled by further delinquency degradation and credit deterioration. On the other hand, with ongoing loan liquidations, modifications and resolutions, the distressed 90+-day, Foreclosure and REO categories as a whole fell for the first time in almost three years – down by $496 million (1%) from the previous month. Having grown in aggregate for 31 straight months prior to such decline, these distressed categories remain up $30.4 billion (167%) in the past year (up from only $18.21 billion in August 2009). Overall, the delinquent unpaid balance is up 118% from one-year ago".....

"The resultant delinquency ratio for August 2010 of 7.93% (up from the 7.79% reported one month prior) is over two times the 3.471% reported one-year prior in August 2009 and over 28 times the Realpoint recorded low point of 0.283% from June 2007." [continue reading (pdf)]

See previous reports at RealPoint.com

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