Boston Outperforms US
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|The percentage of Boston CMBS loans that are delinquent (2.6%) is much lower than the national rate (8.9%), says Trepp research kingpin Paul Mancuso. Nevertheless in August, there was a slight uptick in Boston CMBS loans going into special servicing, as there was in July. But Paul says that's a sign that the loans are being modified, a process that requires they first go to a special servicer. If the lender wanted to foreclose, they would simply take back the property: ?We're not seeing that in the Boston area.? To the contrary, he says the Boston market has outperformed the country as a whole. However, with the number of loans going to special servicers inching up across the country, Paul says, ?It put a damper on our hopes that the worst was behind us.?|