by admin | Oct 19, 2012 | Blog
It is a fact that the special servicer in a CMBS pool must ultimately chose the outcome that will result in the highest net present value (“NPV”) to the bondholders. In fact, the only real standard that the CMBS special servicers have is what is called the servicing...
by admin | Oct 8, 2012 | Blog
In 2010 and 2011 there was over $84 Billion of defaulted CMBS loans resolved by the special servicers. There are significant trends with those resolutions that are worth sharing. The least surprising of these trends is that LNR, as one of the third largest special...
by admin | Oct 2, 2012 | Blog
Behind every troubled CMBS loan is a borrower. Most are good, solid property owners who have been swept up in a tidal wave they couldn’t see coming. All they want to do is right their ship and keep it from sinking. Most borrowers try to do the right thing and hope...
by admin | Sep 17, 2012 | Blog
Has your loan been transferred to Special Servicing? Is your loan balance under $20 million? Is there limited upside to increase value in the collateral in the near term? If you answered yes to the 3 questions listed above, then your loan may be destined for a note...
by admin | Sep 4, 2012 | Blog
When a borrower is restructuring their loan, it can be like remodeling a house. Now imagine doing that in the midst of an earthquake. That is sort of how it feels in the CMBS industry right now to borrowers. The special servicer is appointed by the controlling...
by admin | Aug 24, 2012 | Blog
Why it’s so important? Pool of mortgages that constitute the collateral for CMBS is serviced under the terms of a Pooling and Servicing Agreement (PSA). The PSA describes in detail how the loans are serviced. The PSA is an incredibly detailed and complex...
