2020 Special Servicing Rates

All property types excluding the lodging sector saw a decline in their special servicing rates.
Source: Trepp
Source: Trepp

The Trepp Special Servicing rate came in at 2.7 percent in February, a decline of four basis points from the previous month. All property types excluding the lodging sector saw a decline in their special servicing rates. The special servicing rate for CMBS 2.0+ notes saw a modest increase of three basis points. This was mainly on account of a 10 and seven basis points spike in the lodging and retail special servicing rates respectively.

In the legacy CMBS universe, the overall special servicing rates witnessed a drop of 74 basis points, coming in at 43.3 percent this month. The number of loans newly transferred to special servicing saw a decline this month, with a total of 15 loans sent to special servicing in comparison to 25 the month before. Together, these loans hold an outstanding balance of $304.5 million. The majority of the new specially serviced loans are in the retail and lodging sector, accounting for 78.2 percent of the total outstanding balance.

—Posted on Mar. 26, 2020


Source: Trepp

The Trepp Special Servicing rate came in at 2.8 percent in January, a decline of 14 basis points from the previous month. All property types saw a decline in their special servicing rates, with the multifamily sector seeing the largest drop of 32 basis points.

The special servicing rate for CMBS 2.0+ notes saw an increase of five basis points. This was mainly on account of a 31 basis points spike in the retail special servicing rates. In the legacy CMBS universe, the overall special servicing rates witnessed a drastic drop of 349 basis points, coming in at 44.0 percent this month. This was due to significant declines in multifamily, retail and lodging rates.

The number of loans newly transferred to special servicing rose this month, with a total of 25 loans sent to special servicing in comparison to 14 the month before. Together, these loans hold an outstanding balance of $475.1 million. The majority of the new specially serviced loans are in the retail sector, accounting for 65.4 percent of the total outstanding balance respectively. 

—Posted on Feb. 21, 2020