The total specially serviced loan balance nationally dropped by nearly $2B in June, largely due to record loan liquidations and relatively fewer new transfers. Special servicing teams have staffed up over the last 18 months and are better equipped to deal with the backlog, according to the experts at Trepp. Increased deal volume has likely given servicers a better idea of where assets should price and more confidence to proceed with liquidations. The specially serviced loan balance fell in each of the 11 Bisnow markets except for DC and NYC, which posted slight increases. |
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