According to data from the Mortgage Bankers Association (MBA), the major delinquency rates for multifamily units fell in four of the five major investor groups, which includes FDIC-insured banks, life insurance providers, Fannie Mae and Freddie Mac.
The rates “declined in the second quarter and remain below levels seen in the last major real estate downturn during the early 1990s, some by large margins,” according to Jamie Woodwell, MBA’s vice president of commercial real estate research.
Among the data’s findings were:
- Between the first quarter and second quarter of 2011, the 90-plus day delinquency rate for loans held by Federal Deposit Insurance Corps.-insured banks and thrifts decreased 0.25 percent to 3.93 percent.
- The 60-plus day delinquency rate for loans held in life company portfolios decreased 0.02 percentage points to 0.12 percent.
- The 60-plus day delinquency rate for multifamily loans held or insured by Fannie Mae decreased 0.18 percentage points to 0.46 percent.
- The 60-plus day delinquency rate for multifamily loans held or insured by Freddie Mac decreased 0.05 percentage points to 0.31 percent.