KBRA: More smoke than fire in Ocwen’s restated earnings

KBRA: More smoke than fire in Ocwen’s restated earnings

Cautions that MSR transactions could see more regulatory scrutiny

Truth is, those recent housing numbers aren't so shiny

Housing starts? More like housing stops, amirite?

This man pretends to be a Realtor and no one can stop him

Canadian fines don’t seem to slow down Derek Johnson
W S

Percentage of CMBS paying off on time falls to 40%

/ Print / Reprints /
| Share More
/ Text Size+
Trepp, a provider of commercial mortgage-backed securities, said about 40% of CMBS loans managed to pay off on their scheduled balloon dates in July, down from 42.4% in June. While the July number was still above the 12-month rolling average of 38.9%, it is far below the pay-off rates prior to the 2008 financial crisis, which typically ran well above 70%. In September 2008, the pay-off rate was at 80%. CMBS are taking a bit of a pounding, with Fitch Ratings reporting earlier this week that delinquencies on loans within CMBS hit a record high in July as new late payments increased and few loan resolutions were made. Last month, $3 billion in new delinquencies outpaced the $1.4 billion in resolutions made on CMBS loans, according to Fitch. This prompted a 37-basis point increase to a CMBS delinquency rate of 9.01%, surpassing the previous record of 8.81% set in May. Write to: Kerri Panchuk.

Recent Articles by Kerri Panchuk

Comments powered by Disqus