KBRA Releases CREFC January Conference 2024 – Day 3 Recap

NEW YORK--(BUSINESS WIRE)--KBRA releases its Day 3 recap of the CRE Finance Council (CREFC) January Conference 2024. The final day of the CREFC January conference was the Servicing Summit, which consisted of three panels covering topical issues in servicing, special servicing, and securitization workouts. The first panel discussed servicing issues among master and special servicers of CMBS transactions, while the second panel reviewed workout strategies of asset managers from a portfolio lender perspective. The last panel also covered workouts, which were discussed in the context of loans in CMBS transactions.

Common themes across the sessions included an expectation that delinquencies and special servicing transfers will continue to rise, with office being a main driver of the increase. However, various panelists across each session expressed some concern about multifamily distress. It is also expected that there will be more loan modifications and extensions, as many did not feel this was the right environment to foreclose and liquidate assets, especially in cases where borrowers are committed to the property.

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KBRA is a full-service credit rating agency registered in the U.S., the EU and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.