U.S. commercial mortgage-backed securities loans in special servicing fell below $70 billion for the first time in three years and now make up less than 10% of all outstanding CMBS, Fitch Ratings said in a new report.
The specially serviced CMBS loan universe declined to $64.2 billion in late March.
Despite the overall balance of CMBS loans in servicing edging lower, fewer loans transferred out of special servicing during the first quarter, Fitch said.
Read more...US CMBS special servicing balance drops dramatically | HousingWire
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