August 31 | Mortgage Bankers NewsLink

Banks' Commercial and Multifamily Default Rates Decline | by Michael Tucker

The Mortgage Bankers Association writes: Recovery of bank balance sheets has accelerated, reported Chandan Economics, as the default rate for banks' commercial and multifamily loans fell to 3.11 percent. Banks' non-performing commercial and apartment loan balances, which include delinquent loans and loans in default and non-accrual status, fell to $48.0 billion in the second quarter, down $6.3 billion from three months prior and $26.5 billion--more than 35 percent--below the peak distress level.

Read the story at the Mortgage Bankers website.