{"id":49112,"date":"2026-07-31T21:07:00","date_gmt":"2026-07-31T19:07:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=83595d00da9d7b5a99b02bb5906418c6"},"modified":"2026-07-31T21:07:00","modified_gmt":"2026-07-31T19:07:00","slug":"kbra-releases-research-cmbs-loan-performance-trends-july-2026","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=49112","title":{"rendered":"KBRA Releases Research \u2013 CMBS Loan Performance Trends: July 2026"},"content":{"rendered":"<p>NEW YORK--(BUSINESS WIRE)--<a href=\"https:\/\/twitter.com\/hashtag\/creditratingagency?src=hash\" >#creditratingagency<\/a>--KBRA releases a report on U.S. commercial mortgage-backed securities (CMBS) loan performance trends observed in the July 2026 servicer reporting period. The 30+ day delinquency rate among KBRA-rated U.S. private label CMBS increased 29 basis points (bps) to 7.8% in July from 7.5% in June, while the distress rate (reflecting delinquent plus current-but-specially-serviced loans) climbed 18 bps.<\/p><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260731128278\/en\/2865275\/5\/kbra-logo.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260731128278\/en\/2865275\/22\/kbra-logo.jpg\" \/><\/a><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260731128278\/en\/2865275\/5\/kbra-logo.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260731128278\/en\/2865275\/21\/kbra-logo.jpg\" \/><\/a><p>\nKey observations of the July 2026 performance data are as follows:<\/p><ul class=\"bwlistsquare\">\n<li>\nThe overall delinquency rate increased 29 bps to 7.8% ($26.1 billion) this month, driven by an increase in conduits that are partially offset by a decline in the SB\/LL category.<\/li>\n<li>\nThe distress rate climbed to 10.1% as both conduit and single borrower (SB)\/large loan (LL) saw slight increases this month; however, the rate remains lower by 49 bps year-over-year (YoY).<\/li>\n<li>\nThe office distress rate declined 33 bps to 17.2% this month, primarily driven by the return to the master servicer of 3 Park Avenue ($182 million across three conduits) and the resolutions of Bank of America Plaza ($400 million across four conduits) and Gateway Center ($91.8 million in JPMCC 2013-C10). On the negative side, 1812 North Moore ($172.8 million across two conduits) and 675 Creekside Way ($83.4 million across three conduits) both fell more than 30 days delinquent.<\/li>\n<li>\nThe retail distress rate increased 91 bps to 9.6%, primarily driven by three loans transferring to the special servicer: Augusta Mall ($155.2 million across two conduits), Yorktown Center ($120.5 million in CG-CCRE 2014-FL1), and Harbor Place ($67.5 million in UBS-BB 2013-C5). Despite the increase in July, retail\u2019s distress rate is down 2 bps YoY.<\/li>\n<li>\nThe multifamily distress rate jumped 73 bps in July after declining for two straight months. Twenty-three loans became newly distressed in July, ranging from $3 million to $45.7 million with an average balance of $14.2 million. Though the distress rate has remained relatively range-bound since 2025, a larger share of distressed loans has become delinquent.<\/li>\n<\/ul><p>\nIn this report, KBRA provides observations across our $343.8 billion rated universe of U.S. private label CMBS, including conduits, single-asset single borrower (SASB), and LL transactions. These transactions collectively are collateralized by $9 billion fully defeased and $334.8 billion non-fully-defeased loans. All the rates presented in this report are calculated as a percentage of the respective non-fully-defeased loan balances.<\/p><p>\nClick <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FtKCQfrZb&amp;esheet=54580871&amp;newsitemid=20260731128278&amp;lan=en-US&amp;anchor=here&amp;index=1&amp;md5=d2dd75af54af99b0bfe9721b6d741589\" rel=\"nofollow\" shape=\"rect\">here<\/a> to view the report.<\/p><p>\n<strong>Recent Publications<\/strong><\/p><ul class=\"bwlistsquare\">\n<li>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FVfrNLqxd%2Ftime-is-not-free-loan-modifications-in-sasb-cmbs-2.0&amp;esheet=54580871&amp;newsitemid=20260731128278&amp;lan=en-US&amp;anchor=Time+Is+Not+Free%3A+Loan+Modifications+in+SASB+CMBS+2.0&amp;index=2&amp;md5=333e24261d97aab6ca23ae6ab4aa6713\" rel=\"nofollow\" shape=\"rect\">Time Is Not Free: Loan Modifications in SASB CMBS 2.0<\/a><\/li>\n<li>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FcPryFjnQ%2Fkbra-cmbs-loss-compendium-update-june-2026&amp;esheet=54580871&amp;newsitemid=20260731128278&amp;lan=en-US&amp;anchor=KBRA+CMBS+Loss+Compendium+Update%3A+June+2026&amp;index=3&amp;md5=690f56e16991af13e6ee9923f4e3d86f\" rel=\"nofollow\" shape=\"rect\">KBRA CMBS Loss Compendium Update: June 2026<\/a><\/li>\n<li>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FLHcrBxfX%2F21st-century-road-to-housing-act-becomes-law-sfr-implications&amp;esheet=54580871&amp;newsitemid=20260731128278&amp;lan=en-US&amp;anchor=21st+Century+ROAD+to+Housing+Act+Becomes+Law%3A+SFR+Implications&amp;index=4&amp;md5=215f241eee05f442b00daaffaf5b8c50\" rel=\"nofollow\" shape=\"rect\">21st Century ROAD to Housing Act Becomes Law: SFR Implications<\/a><\/li>\n<li>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FzdDbMCDG%2Fservicer-holdbacks-and-impact-on-cmbs-waterfalls-wfcm-2015-c26-case-study&amp;esheet=54580871&amp;newsitemid=20260731128278&amp;lan=en-US&amp;anchor=Servicer+Holdbacks+and+Impact+on+CMBS+Waterfalls%3A+WFCM+2015-C26+Case+Study&amp;index=5&amp;md5=540a48daf5b4d31c4b8953de5b02c300\" rel=\"nofollow\" shape=\"rect\">Servicer Holdbacks and Impact on CMBS Waterfalls: WFCM 2015-C26 Case Study<\/a><\/li>\n<li>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FmRWsPzPZ%2Fcre-clo-loan-default-and-loss-study-rising-defaults-and-modifications-amid-limited-losses&amp;esheet=54580871&amp;newsitemid=20260731128278&amp;lan=en-US&amp;anchor=CRE+CLO+Loan+Default+and+Loss+Study%3A+Rising+Defaults+and+Modifications+Amid+Limited+Losses&amp;index=6&amp;md5=b4e72dc53732d208de32e7f8442043fa\" rel=\"nofollow\" shape=\"rect\">CRE CLO Loan Default and Loss Study: Rising Defaults and Modifications Amid Limited Losses<\/a><\/li>\n<li>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FpwSnpqMP%2Flate-checkout-lodging-delinquencies-vary-by-price-class-and-chain&amp;esheet=54580871&amp;newsitemid=20260731128278&amp;lan=en-US&amp;anchor=Late+Checkout%3A+Lodging+Delinquencies+Vary+by+Price+Class+and+Chain&amp;index=7&amp;md5=4af4816b858fc6daf3d0b74b28187c70\" rel=\"nofollow\" shape=\"rect\">Late Checkout: Lodging Delinquencies Vary by Price Class and Chain<\/a><\/li>\n<li>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FDLXRKxPF%2Fmetro-level-cre-loan-distress-bifurcated-performance&amp;esheet=54580871&amp;newsitemid=20260731128278&amp;lan=en-US&amp;anchor=Metro-Level+CRE+Loan+Distress%3A+Bifurcated+Performance&amp;index=8&amp;md5=b5acbcfba27bdb3806619b00951765c2\" rel=\"nofollow\" shape=\"rect\">Metro-Level CRE Loan Distress: Bifurcated Performance<\/a><\/li>\n<li>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FQWJWRrdx%2Fanatomy-of-loss-in-single-borrower-cmbs-a-loan-level-analysis&amp;esheet=54580871&amp;newsitemid=20260731128278&amp;lan=en-US&amp;anchor=Anatomy+of+Loss+in+Single-Borrower+CMBS%3A+A+Loan-Level+Analysis&amp;index=9&amp;md5=40b3a2ba6add4576558af2cf5852b859\" rel=\"nofollow\" shape=\"rect\">Anatomy of Loss in Single-Borrower CMBS: A Loan-Level Analysis<\/a><\/li>\n<li>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FPCdvYpBq%2Fcmbs-trend-watch-june-2026&amp;esheet=54580871&amp;newsitemid=20260731128278&amp;lan=en-US&amp;anchor=CMBS+Trend+Watch%3A+June+2026&amp;index=10&amp;md5=f14ed503f4ecc315c5cbd198c519b651\" rel=\"nofollow\" shape=\"rect\">CMBS Trend Watch: June 2026<\/a><\/li>\n<li>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FKKqJSMLp%2Fcmbs-loan-performance-trends-june-2026&amp;esheet=54580871&amp;newsitemid=20260731128278&amp;lan=en-US&amp;anchor=CMBS+Loan+Performance+Trends%3A+June+2026&amp;index=11&amp;md5=58abb361805bb2fa737ad6f04d94555e\" rel=\"nofollow\" shape=\"rect\">CMBS Loan Performance Trends: June 2026<\/a><\/li>\n<\/ul><p>\n<strong>About KBRA<\/strong><\/p><p>\nKBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions.<\/p><p>\nDoc ID: 1016287<\/p><br\/> <b>Contacts<\/b> <br\/><p>\nShawn Li, Associate\n<br\/>+1 646-731-1427\n<br\/><a  href=\"mailto:shawn.li@kbra.com\" rel=\"nofollow\" shape=\"rect\">shawn.li@kbra.com<\/a><\/p><p>\nRobert Grenda, Managing Director\n<br\/>+1 215-882-5494\n<br\/><a  href=\"mailto:robert.grenda@kbra.com\" rel=\"nofollow\" shape=\"rect\">robert.grenda@kbra.com<\/a><\/p><p>\n<strong>Business Development Contact<\/strong><\/p><p>\nAndrew Foster, Senior Director\n<br\/>+1 646-731-1470\n<br\/><a  href=\"mailto:andrew.foster@kbra.com\" rel=\"nofollow\" shape=\"rect\">andrew.foster@kbra.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>NEW YORK&#8211;(BUSINESS WIRE)&#8211;#creditratingagency&#8211;KBRA releases a report on U.S. commercial mortgage-backed securities (CMBS) loan performance trends observed in the July 2026 servicer reporting period. The 30+ day delinquency rate among KBRA-rated U.S. &#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-49112","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/49112","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=49112"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/49112\/revisions"}],"predecessor-version":[{"id":49113,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/49112\/revisions\/49113"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}