The delinquency andspecial servicing rate for commercial mortgage-backed securitieshas logged the largest increase since the metric was introducedin 2009, according to a leading provider of data andanalytics on securitized mortgages.
The delinquency rate forcommercial mortgage-backed securities rose to 7.15 % inMay, according to the Trepp May CMBS DelinquencyReport. Five percent ofthose troubled loans were identified as 30 days past due. In May, $9.4 billion across 243 commercial loan notes were sent tospecial servicing, according to servicer and watchlist datacompiled by Trepp.
This month, initial reports of troubled commercial mortgages are centered on single-asset or single-borrower deals,most backed by hotels or malls, Trepp reported.
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R. Robin McDonald
Daily Report reporter R. Robin McDonald's journalism career includes stints as a staff writer at The Atlanta Journal-Constitution, The Fort Worth Star-Telegram, The Wichita Eagle, and The Anniston Star and as a trial tracker at CourtTV and CNN. She is the author of two true crime books -- Black Widow: The True Story of the Hilley Poisonings and Secrets Never Lie: The Death of Sara Tokars.
