Non-performing commercial real estate loans were largely responsible for the three bank failures in March, according to Trepp. In its latest U.S. Bank Failure Report, Trepp noted that the three failures were the fewest in a month since December 2008 and that commercial real estate loans represented $44 million, or 55% of the total non-performing loans among the failed banks. Residential real estate loans made up 36% of the total. There were 26 failed banks in the first quarter, the lowest for a three-month period since the second quarter of 2009.

Click here to read the story from Mortgage Orb.