CRE Debt Volume Rises, Except for CMBS
WASHINGTON, DC—Commercial and multifamily mortgage debt outstanding ticked upward by 1.6% in the second quarter, the Mortgage Bankers Association said Wednesday. Among the four major lending classes, CMBS—a tally also including CDOs and other ABS—was the outlier in experiencing a decline, as it also proved to be in terms of delinquencies during Q2.
For CMBS, the 2.4% quarterly drop represented a continuation of the decline in volume, which stood at $427.5 billion as Q2 ended. MBA cites a greater volume of CMBS loans being paid off or down than were originated.