With commercial real estate loans on office properties leading the way, quarterly defaults on securitized commercial mortgages increased during the first-three months of 2012. But the good news is that performance for all of this year is expected to be in line with 2011. Cumulative defaults on commercial mortgage-backed securities were 12.96 percent during the first quarter. Defaults reflect loans that were at least 60 days past due one or more times from Jan. 1 through March 31.
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