The delinquency rate for commercial and multifamily mortgages improved for most categories of investors in the third quarter, according to the Mortgage Bankers Association.
The following investor groups reported improvements in third-quarter delinquency rates, compared to the second quarter, according to the MBA:
• Banks and thrifts, for loans at least 90 days past due or in nonaccrual status, down by 0.08 percentage points to 0.82%.
• Fannie Mae, for loans at least 60 days past due, unchanged from 0.05%.
• Freddie Mac, for loans at least 60 days past due, unchanged from 0.01%.
• Commercial mortgage-backed securities, for loans at least 30 days past due or in REO status, down 0.15 percentage points to 4.84%.
• Life insurance companies, for loans at least 30 days past due or in REO status, down 0.02 percentage points to 0.04%.
"Among loans held by banks, the delinquency rate for multifamily loans is now lower than it has been since the series began in 1993," Jamie Woodwell, the MBA's vice president of commercial real estate, said in a Tuesday news release.
The delinquency rates are based on the unpaid principal balance of loans, at the end of the third quarter.
