Commercial Mortgage Late Payments Decline Led By 2007 Loans
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The delinquency rate on U.S. commercial-mortgages packaged into bonds declined in August, led by loans from the market’s peak five years ago, according to Morgan Stanley.
Payments more than 30 days late fell 8 basis points to a 12.13 percent rate this month, Morgan Stanley analysts said in a report today. The measure for deals issued at the height of the nation’s property bubble fell 23 basis points to 15.53 percent, the New York-based analysts led by Richard Parkus said.