DBRS Releases North American CMBS Monthly Statistics Report

DBRS, Inc. (DBRS) released a monthly statistics report for March 2019 that illuminates delinquency and default trends in North American legacy and commercial mortgage-backed security (CMBS) 2.0+
transactions.

The monthly statistics report breaks down outstanding delinquencies by vintage in both the U.S. and Canadian markets, comparing month-to-month delinquency rate changes in CMBS transactions. The report also notes the top ten losses, payouts and specially serviced loans for the month by deal name and property. Furthermore, the report highlights the delinquency rates of the ten largest U.S. states, U.S. metropolitan statistical areas (MSAs) and Canadian provinces by total outstanding balance.

As at the March 2019 remittance, the delinquency or specially serviced rate for all transaction types in the U.S. market decreased to 2.5% from 2.6% month over month, while the rate in the Canadian market increased to 0.05% from 0.04% month over month. The 2000 vintage of U.S. conduit-only transactions currently has the highest delinquency rate at 89.2% (up from 88.7% last month), while the 2007 vintage of Canadian conduit-only transactions has the highest delinquency rate at 11.3% (up from 11.2% last month). Of the top ten U.S. MSAs, the Washington, D.C.-Arlington-Alexandria, Virginia-Maryland-West Virginia MSA continues to report the highest delinquency rate at 8.2% (down from 8.4% last month) for loans secured in conduit-only transactions. In Canada, the province of British Columbia has the highest delinquency rate at 2.2% (up from 0.61% last month) for loans secured in conduit-only transactions.

Notes:
The full report providing additional analytical detail is available by clicking on the link under Related Documents below or by contacting us at info@dbrs.com.

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