What happens when a loan is sent to a special servicer?
I was reading an article on commercial observer that a CMBS loan originated by Wells in 2012 for a shopping mall was being sent to a special servicer as the debt service overage ratios dropped along with the occupancy levels. So, it appears that the mall is poorly performing but not defaulted yet, so what is the special servicer going to do? Is this a CMBS specific thing?
Thank you for any insight or help!!
Google is your friend:
https://www.washingtonpost.com/business/the-back-office-powerbrokers-of…
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