$773M CMBS Sale Drives Huge Delinquency-Rate Drop: Fitch

Law360, New York (August 9, 2013, 7:24 PM EDT) -- A recent sale of a $773 million portfolio of commercial mortgage-backed securities has helped the U.S. CMBS market see the most significant drop in delinquency rates since the end of the recession, Fitch Ratings said in a Friday statement.

The July sale — which included a portfolio of loans in which $759 million were delinquent before the deal — was led by special servicer ORIX Capital Markets LLC and helped drive the market's delinquency rate down 40 basis points to 6.78 percent. That is 2.23 percentage...
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