The overall CRED iQ distress was flat to our September 5th print at 9.1% remaining at a record high. CRED iQ’s special servicing rate increased to 8.4% from 8.0% last month, while the CRED iQ delinquency rate, consistent with the distress rate, came in flat at 6.8%. Most noteworthy change was the Office Distress reaching its new peak at 14.8%, a 156% increase from 18 months ago when distress rates were only 5.8%. The CRED iQ team evaluated payment statuses reported for each loan (securitized by CMBS financing), along with special servicing status as part of our monthly distress update... ...more RSK: It is not just the office sector but hotels and self storage delinquencies are on the rise. | ||
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