California commercial loan delinquencies improve

Nearly all surveyed companies reported on-time payments in Q1

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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) an...