CMBS Distress Hits a 2026 High

Jul 31, 2026

CRED iQ’s July 2026 surveillance data shows the Overall Distress Rate for CMBS climbed to 10.91%, up 22 basis points month-over-month, driven primarily by a 42-bps jump in the Special Servicing Rate to 10.38%. The Delinquency Rate rose more modestly, to 8.68%. For CRE and CMBS investors, brokers, and lenders trying…

CMBS Debt & Financing Financing & CMBS U.S. National United States

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Published by CRED iQ. Global Real Estate Intelligence links to the original source and credits the publisher; all rights remain with them.

Provenance

Publisher: CRED iQ
Obtained from: CRED iQ
Published: Jul 31, 2026
Last updated: Jul 31, 2026 (today)

Global Real Estate Intelligence records where every item came from and when we last refreshed it. Where a field reads Unknown we could not establish it, and we do not guess.

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Image published by CRED iQ Blog with the article “CRED iQ Appoints Liam Mulcahy as Senior Product Manager, CRE Data & Applied AI” — Image: CRED iQ Blog

CRED iQNews

CRED iQ Appoints Liam Mulcahy Senior Product Manager, CRE Data & Applied AI

This is a news announcement from CRED iQ published on July 16, 2026, regarding the appointment of Liam Mulcahy to the position of Senior Product Manager for CRE Data & Applied AI. The announcement is categorized within the CMBS and debt-financing sectors and covers national United States operations.

CMBSDebt & FinancingFinancing & CMBSU.S. NationalUnited States

Updated 14 days agoPublished Jul 16, 2026

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CRED iQ

Bank Multifamily Loan Delinquencies Rise to 1.47% in Q1 2026

Bank multifamily loan delinquencies at FDIC-insured institutions rose to 1.47% in Q1 2026, up 5 basis points from 1.42% at year-end 2025, with delinquent balances reaching $9.78 billion despite continued portfolio expansion to $665.3 billion. The analysis finds that seriously delinquent loans (90+ days past due or nonaccrual) increased to 1.07%, while the net charge-off rate remained low at 0.11% annualized, suggesting banks are resolving troubled credit through extensions and workouts rather than write-downs.

CMBSDebt & FinancingMultifamilyU.S. NationalUnited States

Updated 21 days agoPublished Jul 10, 2026

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CRED iQ

Freddie Mac K-Series Underwriting 2026: Eight New Multifamily Securitizations and Credit Discipline

A CRED iQ analysis of eight Freddie Mac multifamily securitizations priced in early 2026 (representing 472 loans and $7.2 billion) found weighted-average debt service coverage of 1.41x against 63.9% loan-to-value, with approximately 95% of balance carrying full-term or partial interest-only structures to maintain coverage in an elevated rate environment. The report identifies three dominant themes: coverage being manufactured through interest-only relief rather than cash flow, leverage holding steady while pricing adjusted upward (4.9% to 5.66% gross rates), and acquisition activity comprising 40% of balance, while flagging floating-rate pools like KF172 as concentrated refinancing and rate-cap-expiry risk concentrated among sub-1.25x amortizing coverage loans in Florida and the Midwest garden segment.

CMBSDebt & FinancingMultifamilyU.S. NationalUnited States

Updated 1 month agoPublished Jun 26, 2026

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CRED iQ

CMBS Distress Rate in May 2026

CRED iQ's overall CMBS distress rate rose to 11.86% in May 2026, up from 11.08% in April, driven by increases in both special servicing and delinquency rates. Office properties showed the highest distress at 17.11%, followed by mixed-use at 16.12%, while self-storage, industrial, and manufactured housing remained resilient with distress rates near or below 1.2%. The overall distress rate has more than doubled since mid-2022 when it was near 5%, indicating that resolution activity has not kept pace with new transfers into distress.

CMBSDebt & FinancingCapital MarketsU.S. NationalUnited States

Updated 1 month agoPublished Jun 18, 2026

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