News
Distress Cometh?
July 12, 2010
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| Trepp LLC crunched the numbers for us and suddenly we're finding it harder to chew. The stats show that loan volume increased from a little more than $1.5B last fall to more than $2.5B in June with about 50 more loans moving into special servicing. Hart Advisors Group CEO Tanya Little (below) says that the volume of bad loans sent for resolution is due, in part, to more stringent reviews of loan modification requests by the master servicers prior to transfer. | |
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| Tanya works on distressed loans locally with 1st Service Solutions and tells us that “while the master servicers are assisting in the review, which may help the load on the specials, the result is the same—property fundamentals are still declining and therefore, these loans will ultimately end up at the special servicer.†She anticipates more transfers to the special servicers in the coming months. |
