Monday, July 26, 2010

Realpoint Delinquency Report

As expected, delinquencies got a little worse in June (note the RP report has a typo in the first table regarding the reporting month) with 7.702% of the total CMBS universe now delinquent (versus 7.27% in May, and 6.91%). Every bucket worsened expect for 60-89 day, which decreased by 31% (only half that decrease is due to loans going into the 90+day delinquency bucket though!).

Realpoint is now looking for 11-12% delinquencies by year-end. Seems pretty rosy to me, but the year is quickly passing us by.

Total delinquency at $60.45 billion.

Special Servicing - $88.6 billion (11.29%)

Average 2009 Loss Severity - 42.1%, including fees 62% (per RP)

Surprises: Hotel Average Loss Severity 2nd lowest at just 44.1%! Even taking off the tails with <2% loss severities Hotels are just at 61.3% (the third lowest of all property types?!? preceeded by RETAIL!! and Healthcare)

There are some pretty charts in there too, and a ton of additional information. Go to - it's a free report.

No comments: