2021 CMBS Delinquency Rates

After two huge jumps in May and June 2020, the rate has now declined for 10 consecutive months.

Source: Trepp

The Trepp CMBS delinquency rate continued its downward trend in April with recent economic data pointing to robust growth across a wide range of sectors, although the rate of improvement has slowed compared to earlier this year.

Back in February, the reading fell an impressive 78 basis points over the January number, its largest decrease since the beginning of the pandemic. After two huge jumps in May and June, the rate has now declined for 10 consecutive months.

The Trepp CMBS Delinquency Rate in April was 6.5 percent, a drop of six basis points from the March number. The percentage of loans in the 30 days delinquent bucket is 0.7 percent, down four basis points for the month.

In terms of loans in grace period, 2.3 percent of loans by balance missed the April payment but were less than 30 days delinquent. That was up 33 basis points for the month.

Manus Clancy is Senior Managing Director of Applied Data & Research.

—Posted on May 25, 2021


Source: Trepp
Source: Trepp

The Trepp CMBS delinquency rate continued to decline in March following an impressive decline in February. After two huge jumps in May and June 2020, the rate has now declined for nine consecutive months. The Trepp CMBS Delinquency Rate in March was 6.6 percent, a drop of 22 basis points from the February number. (In February, the rate saw the biggest drop since the start of the COVID-19 pandemic.)

As for March, the percentage of loans in the 30 days delinquent bucket is 0.7 percent, up 12 basis points for the month. In terms of loans in grace period, 1.9 percent of loans by balance missed the March payment but were less than 30 days delinquent. That was down 38 basis points for the month and could be a sign that even more delinquency rate improvements are on the way.

Manus Clancy is Senior Managing Director of Applied Data & Research.

—Posted on Apr. 26, 2021


Source: Trepp
Source: Trepp

In February, the Trepp CMBS Delinquency Rate generated its largest improvement since the beginning of the pandemic. After two huge jumps in the reading in May and June of last year, the rate has now declined for eight consecutive months. The Trepp CMBS Delinquency Rate in February was 6.8 percent, a decline of 78 basis points from the January number, which is the biggest drop over the last eight months.

The percentage of loans in the 30 days delinquent bucket is 0.6 percent – down 16 basis points for the month. In terms of loans in grace period, 2.3 percent of loans by balance missed the February payment but were less than 30 days delinquent. That was down 77 basis points for the month. Some other overall statistics: The percentage of loans with the special servicer dipped to 9.6 percent in February from 9.7 percent in January.

According to February servicer data, 24.2 percent of all lodging loans were in special servicing, down from 24.5 percent in January. In addition, 16.7 percent of retail loans are with the special servicer, down from 17.1 percent last month. The percentage of loans on servicer watchlist climbed to 23.4 percent in January from 22.3 percent last month.

Manus Clancy is Senior Managing Director of Applied Data & Research.

—Posted on Mar. 23, 2021


Source: Trepp
Source: Trepp

The Trepp CMBS delinquency rate continued to retreat during the first month of the new year, though there are indications that the improvement could be showing signs of a reversal. After two huge jumps in May and June, the rate has now declined for seven consecutive months. The Trepp CMBS Delinquency Rate in January was 7.6 percent, a decline of 23 basis points from the December number. The percentage of loans in the 30-day delinquent bucket is 0.7 percent–down 10 basis points for the month.

In terms of loans in grace period, 3.1 percent of loans by balance missed the January payment but were less than 30 days delinquent. That was up from 2.8 percent in December. Some other overall statistics: The percentage of loans with the special servicer dipped from 9.8 percent in December to 9.7 percent in January. According to January servicer data, 24.5 percent of all lodging loans were in special servicing, up from 24.1 percent in December. In addition, 17.0 percent of retail loans are with the special servicer, down from 17.2 percent last month. The percentage of loans on servicer watchlist climbed to 22.3 percent in January from 21.4 percent last month.

Manus Clancy is Senior Managing Director of Applied Data & Research.

—Posted on Feb. 26, 2021

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