Mortgage Lowdown

According to recent reports, Katrina-related delinquencies have dropped to 37 percent of December 2005’s peak of $269.8 million. They however remain 3.5 times higher than pre-storm levels, according to Fitch’s latest U.S. CMBS loan delinquency index, which fell four basis points to 0.55 percent in August. Blackenterprise.com reports:

One basis point of the delinquency rate decline is attributable to the addition of seven new deals totaling $8 billion to Fitch’s deal universe. The remainder of the decline is due to loans becoming less than 60 days delinquent, being paid off, defeased, or liquidated and therefore dropping out of the delinquent universe.

Read more: Katrina-Related Mortgage Loan Delinquencies Falling

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