KBRA: CMBS Delinquencies Have Ebbed for 14 Consecutive Months Article originally posted on HERE on August 30, 2021 Kroll Bond Rating Agency (KBRA) said the CMBS delinquency rate slipped 30 basis points to 4.6% from a month earlier. This is the 14th consecutive month where the rate has declined or was flat from the previous month since peaking in June 2020 at 8.2%, said KBRA. Lodging and retail recorded the largest decreases in their delinquency rates, to 11.3% from 11.9% and 7.4% from 8%, respectively. Similar to recent months, the decline in lodging delinquencies was sizable, with 26 lodging loans totaling $486.7 million becoming current or resolving. The disposition of six loans totaling $130.7 million contributed to the decline in retail delinquencies. The subject retail loans were resolved with an average loss severity of 44.6%. Multifamily was the only property type that recorded an increase in delinquency. The rate rose to 1.9% from 1.6%, driven by five loans totaling $109.4 million that became newly delinquent. However, all but one of the five were already in special servicing prior to this month’s delinquency, according to KBRA.