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…
commercial mortgage backed securities
Moody Ranks Albuquerque Among Top Ten Healthiest Commercial Markets
According to a copyrighted story in Monday’s™ Albuquerque Journal’s™ Business Outlook, Moody’s™ recently released Red-Green-Yellow Update indicates the Albuquerque commercial real estate market showed significant improvement from early 2009 to early 2010. Albuquerque’s™ apartment market ranks as one of the strongest in the country; however the office market continues to show distress. Moody’s™ Red-Green-Yellow Update is a quarterly report measuring risk in metros where deals were financed through commercial mortgage-backed securities.
