The numbers translate to a default rate 0.03%, the lowest ratesince the June 30, 2002 survey, which found a default rate of0.01%. As recent as March 30, 2007, the delinquency ratio was .13%;one year ago the ratio stood at .09%.
Two of the three delinquent loans--for $8.9 million and $4.8million, respectively--are secured by healthcare properties; theother loan, $12.1 million, is secured by a hospitality property.Due to the confidential nature of the survey, no additional detailswere available regarding the delinquent loans.
Seventeen income property mortgage bankers participated in theCMBA survey. These companies originate and service loans onapartments, retail, industrial and other commercial properties forinstitutional investors such as life insurance companies andpension funds.
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