The rate of late payments on securitized commercial real estate loans backed by apartment buildings soared more than a hundred basis points last month.
Conduit loans included in commercial mortgage-backed securities had a 7.07 percent sixty-day delinquency rate as of June 30.
That was a 10-basis-point ascension from the end of the previous month. Loans securitized in 2007 were largely responsible for the worsened performance.
Source: Mortgage Daily