For the 30th consecutive quarter, the California Commercial Loan Delinquency Ratio is below one half of 1 percent, according to the latest first-quarter survey conducted by the California Mortgage Bankers Association.
The survey found 99.95 percent of the California commercial real estate loans serviced 17 mortgage banking firms to be either current or only one payment delinquent. This translates into a delinquency ratio of .05 percent, the lowest since June 30, 2001, when it was .01 percent. A year ago the delinquency ratio was .17 percent. Additionally, 16 of the 17 companies reported no loans more than 30 days delinquent.
Of the $75.6 billions of loans being serviced by the 17 California commercial mortgage bankers, $51.6 million, consisting of 13 individual loans, was two or more payments past due. By types of property, retail property loans were .12 percent delinquent (the same as three months ago), warehouse/industrial loans were .09 percent past due (one $8.6 million loan) and loans on “other” properties were .34 percent past due (compared to .53 percent three months ago). The $11.5 million of multifamily delinquencies represented .05 percent of the outstanding multifamily loans. There were no delinquent office building, hospitality or mobile-home-park loans reported.
By number, the 13 delinquent loans represent .12 percent of the 10,439 commercial real estate loans included in the survey.
For survey purposes, a loan is considered delinquent if it is two or more payments past due. Loans in the process of foreclosure are included, regardless of the number of payments past due.