The volume of CMBS loans in special servicing posted its steepest decline in the third quarter since 2010, according to Fitch Ratings. It reached $74.8 billion, falling by $5.8 billion. "The backlog of underperforming CMBS loans is still formidable," Fitch managing director Stephanie Petosa said. "But servicers are gradually seeing fewer loans to work out and increased refinancing opportunities, which bodes well headed into next year."
Published in Brief: