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Roundup: Fitch Says CMBS Servicers 'Raising the Bar'.(commercial mortgage-backed securities)(Brief Article)

Mortgage Servicing News

| November 01, 2004 | COPYRIGHT 2004 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Fitch Ratings, citing results of its annual commercial mortgage servicer review process, sees positive trends developing in the servicing of loans for commercial mortgage-backed securities.

"Dedicated surveillance teams and enhanced technology that has improved day-to-day work flow have dramatically increased servicer responsiveness to issues and improved operational efficiency," said Stephanie Petosa, a senior director at Fitch, in a company report.

"Additionally, the advent of 24-hour borrower websites and borrower surveys has contributed to borrower satisfaction. Incre-asingly interactive investor websites that allow for customized portfolios and reports have also emerged as a best practice for the sector."

On the CMBS special servicer front, another favorable "best practice" that has emerged involves resolving long-term delinquent ass-ets and reducing the total number of CMBS assets in special servicing.

The ...

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Source: HighBeam Research, Roundup: Fitch Says CMBS Servicers 'Raising the Bar'.(commercial...

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