Of the $85.9 billions of loans being serviced by the seventeen commercial mortgage bankers surveyed, $111.9 million, consisting of six individual loans, were delinquent. By number, the six delinquent loans represent 0.06% of the 10,778 commercial real estate loans included in the survey.
By type of property, multifamily loans were 0.33% delinquent (compared to less than 0.1% three months ago) and "other" property loans were 0.32% delinquent (the same as three months ago). Delinquencies of warehouse/industrial loans were less than 0.1% of the unpaid balances. There were no delinquent office building, retail property, hospitality, mobile home park or R&D property loans reported.
For the survey, a loan is considered delinquent if it is two or more payments past due. Loans in the process of foreclosure are included, regardless of the number of payments past due. The companies in the survey originate and service loans on apartments, retail, industrial and other commercial properties for institutional investors such as life insurance companies and pension funds.
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