Commercial mortgage-backed security loans requiring special servicing totaled $81.7 billion in the first quarter -- an increase from the $74 billion in need of special servicing at the end of 2009, according to Fitch Ratings. Increasingly, special servicers are using bulk-note sales, modifying the loans into higher-rated notes and providing forbearance, according to Stephanie Petosa, managing director at Fitch Ratings. "However, the majority of the loan workouts remain within the more traditional realm of extensions, modifications and foreclosures," she said.

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