It was a productive year for special servicers in 2009, but there’s a lot more where that came from, according to a new Fitch Ratings report.
Special servicers resolved $8.7 billion in distressed loans last year, or 50% more than the previous year, but there is $74 billion still left in special servicing, Fitch said.
In addition, “Recoveries on loans with losses are down markedly compared to prior years,” said Fitch managing director Stephanie Petosa.
