Loss-severity rate on conduit loans more than 60% on 1998 vintage
Mortgage LoanThe loss-severity rate on 1998 vintage commercial mortgage-backed securities loans outpaced other vintage classes of CMBS, with the 1998 class recording $289 million in realized losses on an initial loan balance of $474 million, Treppsaid Friday. The CMBS analytics firm released its January loss-liquidation report for fixed-rate, U.S. conduit loans Friday. The report puts the vintage 1998 CMBS class at a loss-severity rate of 60.94%, making it the segment with the highest distressed loan level. It is followed by the 2008 vintage class of 46 loans, which have a loan […]