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CRE Loan Delinquencies Decline to Lowest Level Since Pandemic Began

Delinquency rates for mortgages backed by commercial and multifamily properties decreased again in April, reaching the lowest level since the onset of the COVID-19 pandemic, according to the Mortgage Bankers Association’s (MBA) latest monthly CREF Loan Performance Survey. Loans backed by lodging and retail properties continue to see the greatest stress, but also the most improvement.

“Commercial and multifamily mortgage delinquency rates declined in April but remain elevated overall, driven by the ongoing challenges facing many hotel and retail properties,” said Jamie Woodwell, MBA’s VP of commercial real estate research.

He continued, “New and early-stage delinquencies have fallen significantly from earlier in the pandemic, but later-stage delinquency rates have stayed high, as lenders and servicers work through the options for troubled properties. Vaccine rollouts, strong consumer balance sheets, and pent-up demand are all positive signals, both for new delinquencies and for working out troubled properties.”

Pictured: MBA headquarters in Washington, DC.

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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