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Fitch Sees Rise In CMBS Overdues.(Fitch Ratings and commercial mortgage backed securities)(Brief Article)

Mortgage Servicing News

| June 01, 2003 | COPYRIGHT 2003 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Fitch Ratings has seen a more than 14% rise in commercial mortgage-backed securities delinquencies in the first quarter over the last quarter of 2002.

Fitch's delinquency index reading of 1.39% for the first quarter, up from 1.31% for the previous period, represents the largest quarterly increase in CMBS delinquencies since Fitch created a loan delinquency index at the end of 2001, the rating agency said.

"The increase in CMBS delinquencies is directly due to a dramatic rise in delinquent hotel and office loans," said Mary MacNeill, senior director, Fitch Ratings. The delinquency balance for hotel loans grew by $270 million in the first ...

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Source: HighBeam Research, Fitch Sees Rise In CMBS Overdues.(Fitch Ratings and commercial...

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