Real-estate Firms Managing Selling Volume of Distressed Commercial Mortgages

Firms, known as special servicers, are dealing with souring loans backed by commercial-mortgage-backed securities, or CMBS: a total of $90.9 billion through the end of September, compared with $73.8 billion at the end of last year, according to credit-rating firm Fitch Ratings. But the pace at which those loans have been resolved has picked up at an even faster rate, with $27.9 billion recovered by special servicers from bad loans in the third quarter, compared with $8.9 billion in the first quarter, according to Fitch. Read more…