Moody’s Investors Service released two reports this morning on CMBS loan delinquencies. The first one analyzes the drivers of delinquency in the sector.
The report provides some notable points. One of them is that delinquency by vintage poses a relatively smooth progression, with older deals usually having higher delinquencies. But the 2000 vintage is sort of an anomaly, showing higher-than-expected delinquencies. And in this instance, the hotel sector is not the sole reason for the under-performance but all major property types are responsible.