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Article: Fitch Suggests Remedy For U.S. CMBS Interest Shortfalls.
- Article from:
- Business Wire
- Article date:
- March 20, 2003
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Business Editors
NEW YORK--(BUSINESS WIRE)--March 20, 2003
Limiting advances of principal and interest to twelve months for delinquent loans should serve as a remedy to the increasing number of investment grade rated commercial mortgage backed securities (CMBS) with interest shortfalls, Fitch Ratings today announced. Advancing should continue to be contingent upon recoverability and be no greater than twelve months of mortgage loan payments. This time limit would not preclude servicers from making property protection advances and necessary limited expenses.
'Limiting servicer advancing will reduce the likelihood of interest shortfalls to the ...