Wednesday, September 9, 2009

MBA Mortgage Delinquencies - 2Q 2009

I've never quite understood why MBA compares the various commercial mortgage types using apples and oranges - they have some listed as 30+ day delinquencies, others are 90+, and still others are 60+. It makes it virtually useless as a comparison tool.



So, if you were actually comparing them at the same scale, Banks & Thrifts would be the highest and are the most concerning. CMBS delinquencies have ramped up quicker, although the most recent spike is mostly one sponsor, the overall trajectory has moved upward faster in CMBS.
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2 comments:

  1. RealEstateRiskSeptember 15, 2009 at 11:04 AM

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  2. RealEstateRiskSeptember 15, 2009 at 11:04 AM

    In the case of life companies (which comes from american council of life insurers), 60 days is all that is tracked or reported. Banks & Thrifts don't have a 60 day series. CMBS may be better if it was 60 days and REO though (which is easy to get using a data vendor such as Trepp or Realpoint).

    No way to get perfect apples to apples comparison though.

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