Commercial loan delinquencies drop in California

15 of 17 companies report no late payments in 2nd-quarter survey

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For the 27th consecutive quarter, the California Commercial Loan Delinquency Ratio is below one half of 1 percent, according to the California Mortgage Bankers Association. According to the June 30, 2005, Quarterly Delinquency Survey conducted by CMBA, 99.82 percent of the California commercial real estate loans serviced by 17 mortgage banking firms were either current or only one payment delinquent. This translates into a delinquency ratio of .18 percent, the second-lowest since December 2002 when it was .14 percent.  The second-quarter delinquency ratio compares to a delinquency ratio of .17 percent three months ago and .33 percent a year ago. Fifteen of the 17 companies reported no loans more than 30 days delinquent. Of the $64 billions of loans being serviced by the 17 California commercial mortgage bankers, $113.9 million, consisting of 11 individual loans, was two or more payments past due. Three loans, totaling $70.6 million, represent 62 percent of the 11 delinquent lo...