Delinquent unpaid balance for CMBS raises 585 % yoy...

Discussion in 'Wall St. News' started by ASusilovic, Jul 28, 2009.

  1. In June 2009, the delinquent unpaid balance for CMBS increased by a substantial $9.87 billion, up to a
    trailing 12-month high of $28.65 billion. Overall, the delinquent unpaid balance grew for the 10th straight
    month, up an astounding 585% from one-year ago (when only $4.18 billion of delinquent balance was
    reported for June 2008), and is now almost 13 times the low point of $2.21 billion in March 2007. An
    increase in four of the five delinquent loan categories was noted in June, including a significant $6.82
    billion increase in the 30-day delinquency bucket. Nearly one-half of this increase was driven by the
    reporting of $3.38 billion of GGP-sponsored but specially-serviced loans as 30-days delinquent (the
    ultimate resolution of such loans to be determined).