Trepp CMBS Delinquency Rate Plunges in February for Eighth Monthly Decline; Hotel and Retail Rebound Accelerates

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In February 2021, the Trepp CMBS Delinquency Rate generated its largest improvement since the beginning of the pandemic.

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In February 2021, the Trepp CMBS Delinquency Rate generated its largest improvement since the beginning of the pandemic.

Trepp, a leading provider of data, insights, and technology solutions to the structured finance, commercial real estate, and banking markets has released the February 2021 CMBS Delinquency Report, revealing the largest improvement in the rate since the start of the coronavirus pandemic.

Instantly access the complete report here: https://www.trepp.com/instantly-access-february-2021-cmbs-delinquency-report.

The Trepp CMBS Delinquency Rate in February was 6.80%, a decline of 78 basis points from the January number, which is the biggest drop over the last eight months. The percentage of loans in the 30 days delinquent bucket is 0.58%, which is down 16 basis points for the month.

"The acceleration of the improvement in the delinquency rate, with retail and lodging both showing notable declines, can be seen as a positive sign for the market, said Catherine Liu, Trepp Associate Research Manager. "This could be a reflection of continued vaccination progress, fiscal stimulus spending, and the strong economic growth we are currently seeing in the first quarter," Liu said.

In terms of loans in grace period, 2.30% of loans by balance missed the February payment but were less than 30 days delinquent. That was down 77 basis points for the month.

For additional details, such as historical comparisons, analysis on all major property types, an overview of loans newly specially serviced, and the status of loans in grace period or beyond, download Trepp’s February 2021 CMBS Delinquency Report: https://www.trepp.com/instantly-access-february-2021-cmbs-delinquency-report.

For daily CMBS and CRE commentary, follow @TreppWire on Twitter.

About Trepp
Trepp, founded in 1979, is a leading provider of data, insights, and technology solutions to the structured finance, commercial real estate, and banking markets. Trepp provides primary and secondary market participants with the solutions and analytics they need to increase operational efficiencies, information transparency, and investment performance. From its offices in New York, San Francisco, and London, Trepp serves its clients with products and services to support trading, research, risk management, surveillance, and portfolio management. Trepp wholly-owns Commercial Real Estate Direct, the source for high-end news and information to professionals in the CRE industry. Trepp is wholly owned by Daily Mail and General Trust (DMGT). For more information, visit trepp.com.

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Hayley Keen
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