Morningstar DBRS Releases Canadian CMBS Monthly Statistics Report for November 2024

DBRS, Inc. (Morningstar DBRS) released the Canadian monthly statistics report for November 2024 that illuminates delinquency and default trends in Canadian legacy and commercial mortgage-backed security (CMBS) 2.0+ transactions.

The monthly statistics report breaks down outstanding delinquencies by vintage in the Canadian market, comparing month-to-month delinquency rate changes in conduit-only CMBS transactions. The report also highlights historical loss and delinquency rate figures by vintage and province. Furthermore, information is provided for specially serviced loans, modifications, forbearance, payoffs, defeasance, loss, and loans past maturity.

In the Canadian market, nineteen loans were scheduled to mature in November 2024, fourteen of which were paid off at maturity, three remain outstanding and two got prepaid. The payoff rate for the month of November 2024 was 67.4%.

As of the November 2024 remittance, the delinquent or specially serviced rate for all transaction types remained the same at 1.9% month over month (MOM). Per the November 2024 remittance, 24 loans that received forbearances in response to respective relief requests as a result of the COVID-19 pandemic were outstanding, and six of them currently have outstanding deferred amounts

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The report is available at dbrs.morningstar.com.

For more information on this industry, visit dbrs.morningstar.com or contact us at info-DBRS@morningstar.com.

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