Commercial and multifamily mortgage delinquency rates among four out of five major investor groups decreased in the second quarter of 2011, with only the 30-day delinquency rate for loans held in commercial mortgage-backed securities increasing, according to the Mortgage Bankers Association's Commercial/Multifamily Delinquency Report released Monday.
[IMAGE]The rate for loans held by FDIC-insured banks and thrifts that were at least 90 days delinquent decreased 0.25 percent to 3.93 percent between the first and second quarters of the year, according to the report.
The 60-day (or more) delinquency rate for loans held in life company portfolios decreased 0.02 percentage points to 0.12 percent during the same time period.
[COLUMN_BREAK]The 60-day delinquency rate for multifamily loans held or insured by Fannie Mae decreased 0.18 percentage points to 0.46 percent between the first two quarters of the year.
The 60-day delinquency rate for multifamily loans held or insured by Freddie Mac decreased 0.05 percentage points to 0.31 percent, while the 30-day delinquency rate for loans held in commercial mortgage-backed securities increased one-quarter of a percentage point to 9.43 percent.
The report further found that the second quarter 2011 delinquency rate for commercial and multifamily mortgages held by banks and thrifts was 2.65 percentage points lower than the series high (6.58 percent in the second quarter of 1991).
The delinquency rate for commercial and multifamily mortgages held in life insurance company portfolios was 7.25 percentage points lower than the series high (7.37 percent in the fourth quarter of 1993).
The rate for multifamily loans held by Fannie Mae was 3.16 percentage points below the series high (3.62 percent, fourth quarter of 1991); and the rate for multifamily loans held by Freddie Mac was 6.50 percentage points lower than the series high (6.81 percent, 1992).
The rate for loans held in CMBS was a record high for the series.