Commentary
Historical Excess Loss in CMBS Suggests Small Markets, Skilled Nursing/Healthcare Properties, and Regional Malls Are Most at Risk
CMBSSummary
This commentary examines historical loss data across a set of 12,000 losses. The analysis concluded that loans backed by collateral in rural and less dense suburban markets are more susceptible to wider value swings, as DBRS Morningstar has previously observed.
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Contacts
Tom Yang
Vice President, North American CMBS - Model and Methodology Development
+1 312-332-9453
tom.yang@morningstar.com- Steve Jellinek
Vice President, Head of Research - North American CMBS
+1 312 244 7908
steven.jellinek@morningstar.com - Misaki Nabeshima
Senior Financial Analyst - North American CMBS
+1 312 332 9470
misaki.nabeshima@morningstar.com - Gwen Roush
Senior Vice President, Sector Lead - North American CMBS Ratings, Surveillance
+(1) 312 332 9575
gwen.roush@morningstar.com