CMBS delinquencies fell, but hold the applause

The delinquency rate for CMBS loans has fallen for two consecutive months. Save the party supplies for later, though, because there is still no reason to celebrate. Many CMBS lenders have offered forbearance to struggling borrowers during the downturn. When loans enter forbearance, their status is changed to “current” from “delinquent,” even if the borrower cannot pay on time. Given the surge in such arrangements, the delinquency rate does not reflect commercial real estate distress

source https://therealdeal.com/2020/09/11/cmbs-delinquencies-fell-but-hold-the-applause/