As of June 30, Washington led all metro areas in commercial mortgage-backed security delinquencies with more than $1.9 billion in outstanding delinquencies. Chicago and the Northern New Jersey metro area followed with $751.5 million and $582.1 million, respectively. The 10 metro areas shown represent 29.7% of all CMBS delinquency. On a statewide level, Virginia, California and Florida led the nation with $5.3 billion in delinquent loans among them. Looking at delinquent loans by their year of origination, loans made in 2006 and 2007 comprise more than 70% of all delinquencies. Surprisingly, loans originated between 2012 and 2015 have a low rate of delinquencies given the rather aggressive period of lending. Office and retail collateralized loans have been the weakest performers while the market has seen stability in the multifamily sector.
