Office CMBS Delinquency Rate Spikes to Record 11.1% in June, Worse than Financial Crisis Meltdown Peak, after 3-Month Relapse

Office CMBS Delinquency Rate Spikes to Record 11.1% in June, Worse than Financial Crisis Meltdown Peak, after 3-Month Relapse

A Los Angeles tower, FEMA headquarters in Washington, 100-year-old tower in Manhattan join list; some delinquent loans were “cured,” including by transfer to a custodial receiver and extend and pretend, and came off the list.

Office CMBS Delinquency Rate Spikes to Record 11.1% in June, Worse Than Financial Crisis Meltdown Peak, After Three-Month Relapse

by Wolf Richter Wolf Street A Los Angeles tower, FEMA headquarters in Washington, 100-year-old tower in Manhattan join list; some delinquent loans were “cured,” including by transfer to a custodial receiver and extend and pretend, and came off the list. The delinquency rate of office mortgages that have been securitized into commercial mortgage-backed securities (CMBS) spiked to 11.1% in June, a new all-time high, re-blowing past even the Financ…