Commercial loan delinquencies rise in California

Fourth quarter ratio up .06% from previous quarter

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For the 21st consecutive quarter, the California Commercial Loan Delinquency Ratio is below one half of 1 percent, according to the Dec. 31, 2003, quarterly delinquency survey conducted by the California Mortgage Bankers Association. The survey found 99.65 percent of the California commercial real estate loans serviced by 18 mortgage banking firms were either current or only one payment delinquent. This translates into a delinquency ratio of .35 percent. This compares to a delinquency ratio of .29 percent three months ago and .14 percent a year ago. Seventeen of the eighteen companies reported no loans more than 30 days delinquent. Of the $59.8 billions of loans being serviced by the eighteen California commercial mortgage bankers, $212 million, consisting of 21 individual loans, was two or more payments past due. The three largest loans, representing 40 percent of this total, were a $34.4 million loan on an office building, a $32.5 million loan on a hotel and a $17.5 million loan...