Breaking News
  • Fidelity National Financial acquires Hudson & Marshall

    ServiceLink, the provider of transaction services to the mortgage and finance industries, is getting into the auction business thanks to its parent company buying one of the country’s top auction companies. On Monday, Fidelity National Financial, the title insurance giant and parent company of ServiceLink, announced that it acquired Hudson & Marshall. Click the headline to read more.

Investments

CMBS delinquencies up for fourth-straight month

The delinquency rate on commercial mortgage-backed securities raised 12 basis points to 10.16% in June, the fourth-straight month of increases and another all-time high, according to analytics firm Trepp.

Last year, the delinquency rate stabilized at 9.5%, but Trepp analysts warned about five-year loans securitized in 2007 that were reaching their maturity dates. The rate, analyst said at the time, "could hockey-stick upward in 2012."

And since February, it increased 79 basis points.

"The good news for the CMBS market is that most of the five-year notes originated in 2007 were made in the first six months of the year," Trepp analysts said. "Over the next six months, the number of 2007 five-year loans reaching their maturity date falls off sharply."

The delinquency rate increased for every segment except industrial properties, which declined 128 basis points to 11.54%.

Delinquencies on the multifamily sector went unchanged in June at 15.17%, the highest delinquency rate of any property type.

jprior@housingwire.com

@JonAPrior

Services Guide

Comments powered by Disqus