November 15, 2019 Comments Off on CMBS Special Servicing Rate Continues to Fall Views: 827 National News

The rate of CMBS loans in special servicing declined by 10 basis points to 3% in October, Trepp said Thursday. The decline continues the trend of falling special servicing rates over recent months.

This rate varies widely depending on whether the CMBS in question is 1.0 or 2.0. For pre-2008 legacy loans, the special servicing rate ticked upward by three bps to 47.8% last month, according to Trepp. For the post-2008 2.0 CMBS issues, October’s special servicing rate was a comparatively tiny 1.26%—although that’s up 16 bps from a year ago.

Trepp said the number of loans newly transferred to special servicing declined once again in October, when the total was 12 loans. Together, these loans hold an outstanding balance of $119.8 million. Retail and office loans accounted for 72% of the total outstanding balance of the newly specially serviced loans.

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Tags: Financing

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CMBS Special Servicing Rate Continues to Fall

Paul Bubny