SA: US CFOs’ top priority is cost-cutting amid economic uncertainty, survey finds
SEEKING ALPHA reports: With economic and geopolitical uncertainty lingering, finance chiefs in the U.S. have directed ...
SEEKING ALPHA‘s Wolf Richter writes:
The delinquency rate for commercial mortgage-backed securities (CMBS) spiked from 2.29% in April to 7.15% in May by loan balance, according to Trepp.
The five biggest categories of commercial real estate – multifamily apartments, retail, offices, lodging, and industrial – had very different delinquency rates, ranging from minor to catastrophic.
The overall CMBS delinquency rate could have been worse for May and is likely to get worse for June, Trepp said.
Commercial Mortgage-Backed Securities backed by hotel and mall properties get hit the hardest. Mall-REIT CBL failed to make bond interest payment Tuesday.
The delinquency rate for commercial mortgage-backed securities (CMBS) spiked from 2.29% in April to 7.15% in May by loan balance, according to Trepp Wednesday, which tracks securitized mortgages for institutional clients. This month-to-month spike of 481 basis points in the Trepp CMBS Delinquency Rate was the largest in Trepp’s data going back to 2009.
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