Distress hit a new record for the third consecutive month according to a new report from CRED iQ. It was up 14 basis points in May and reached 8.49%.

"The CRED iQ team evaluated payment statuses reported for each loan, along with special servicing status as part of our monthly distress update," they wrote. "CRED iQ's special servicing rate now stands at 8.09% and the CRED iQ delinquency rate is at 5.8% for this month."

The delinquency rating includes "all CMBS properties that are securitized in conduits and single-borrower large loan deal types" but not Freddie Mac, Fannie Mae, Ginnie Mae, and CRE CLO loan metrics, which are treated in separate analyses.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.