Things at Ocwen just went from bad to much, much worse

Things at Ocwen just went from bad to much, much worse

Embattled company hit with an avalanche of bad news

Pending home sales surge to highest level in 18 months

Buyer demand boosts sales

Foreclosure: The Movie… (finally!) coming to a screen near you

In new film, neighborhood of foreclosed homes drives man insane
W S
Lending

Multifamily loan delinquency rates decline in 3Q

Late payments on multifamily mortgage loans declined along with delinquencies on all commercial loans in the third quarter, the Mortgage Bankers Association said Thursday.

The 60-plus day delinquency rate for multifamily loans held or insured by Freddie Mac remained stagnant at 0.27%, while the delinquency rate for multifamily loans insured by Fannie Mae fell 0.01 percentage points to 0.28%, the MBA said.

Meanwhile, the 90-day delinquency rate for loans held by FDIC-insured banks and thrifts fell 0.18 percentage points to 2.93%, and the 60-day delinquency rate for commercial and multifamily mortgages held by life insurance company portfolios fell 0.03 percentage points to 0.12%. 

The 30-day delinquency rate for loans tied to commercial mortgage-backed securities also fell 0.11 percentage points to 8.86%, the MBA said.

"Commercial and multifamily mortgage delinquency rates for loans held by life companies, Fannie Mae and Freddie Mac all remain extremely low," said Jamie Woodwell, MBA’s vice president of commercial real estate research. "The delinquency rate on bank-held loans is at its lowest level since the beginning of 2009 and the delinquency rate for loans held in commercial mortgage-backed securities (CMBS) – while still elevated – continues to stabilize. If one removes the CMBS loans that are in foreclosure or REO, that delinquency rate is at its lowest since late 2009."

kpanchuk@housingwire.com

 

Recent Articles by Kerri Panchuk

Comments powered by Disqus