NEW YORK–(BUSINESS WIRE)–#KBRA–KBRA Credit Profile (KCP), a division of KBRA Analytics, releases its Day 3 recap of the CRE Finance Council (CREFC) June Conference 2023. The day comprised three sessions focused on loan servicing, including challenges the industry is facing in the current market as well as solutions to improve borrower/servicer relationships and expedite workouts.
Key Takeaways
- The special servicing rate has room to increase; in the wake of the global financial crisis (GFC), special servicing rates did not peak until May 2012 with concern the current rate may similarly lag.
- Breaking down communication barriers and improving transparency between borrowers, servicers, and investors remains top of mind for market participants.
- As borrowers increasingly request loan modifications, servicers anticipate leaning on loan documents to address these proposals but expect challenges amid the complex and sometimes conflicting language as well as borrower pushback.
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