The special servicing rate in April showed the largest monthly improvement since the coronavirus crisis began, with a decline of 40 basis points.
The Trepp CMBS special servicing rate hit 9.02% last month, the seventh monthly decrease since its September 2020, post-Great Recession peak of 10.48%.
"With federal plans underway to make vaccinations more widely available in the US and states taking steps to ease lockdown restrictions even further, loan 'cures' and special servicing removals should continue at a measurable pace in the coming months," Trepp's Catherine Liu wrote in a recent analysis of the April figures.
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