Banking

CMBS Loan Defaults On the Up 

Defaults on commercial real estate loans are rising according to Fitch Ratings, at least in the case where such loans are linked to commercial mortgage-backed securities (CMBS). What’s more, the defaults are concentrated to certain states in America, highlighting a trend of geographically related performance. Michigan is seeing the highest proportion of loans currently in default for any state, with 6.89% of all loans at least 60 days delinquent or in foreclosure, according to Fitch. 100 commercial loans in the state fit into this category at a total $501m.