CMBS 2.0 Experiences 1st Delinquency

By Adam Tempkin

NEW YORK, April 21 (IFR) – The new post-crisis generation of CMBS, which started in late 2009 and was dubbed CMBS 2.0, just experienced its first delinquency, according to researchers at RBS.

A US$5.2 million loan on the U.S. Geological Survey Regional Headquarters, an Austin, Texas office property securitized in the US$1.1 billion JPMCC 2010-C2 transaction, is 30 days delinquent, the bank said. The transaction closed in early October 2010 and JP Morgan was the sole underwriter.

The loan’s last payment was made on Feb. 1, 2011, and two months of advances are outstanding.  Continue to read HERE

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