"Commercial and multifamily mortgage performance continues to improve," said MBA Vice President of Commercial Real Estate Research Jamie Woodwell. "Increasing property incomes, rising property values and a strong finance market are working together to push delinquency rates lower."
The MBA analysis looks at commercial/multifamily delinquency rates for five of the largest investor groups: commercial banks and thrifts, commercial mortgage-backed securities (CMBS), life insurance companies, Fannie Mae and Freddie Mac. Together these groups hold more than 80 percent of commercial/multifamily mortgage debt outstanding.
Based on the unpaid principal loan balance, delinquency rates for each group at the end of the first quarter were as follows:
* Life company portfolios (60 or more days delinquent): 0.06 percent--a decrease of 0.02 percentage points from fourth-quarter 2014;
* Freddie Mac (60 or more days delinquent): 0.03 percent--a decrease of 0.01 percentage points from the fourth quarter;
* Banks and thrifts (90 or more days delinquent or in non-accrual): 1.03 percent--a decrease of 0.11 percentage points from the fourth quarter;
* CMBS (30 or more days delinquent or in real estate-owned [REO]): 5.17 per cent--a decrease of 0.19 percentage points from the fourth quarter; and
* Fannie Mae (60 or more days delinquent): 0.09 percent--an increase...