Fitch: CMBS defaults dropped 38% in 2011
Defaults within commercial mortgage-backed securities dropped 38% in 2011 from the year before, according to Fitch Ratings. Roughly 950 loans totaling $13.7 billion defaulted, down from nearly 1,500 loans worth $22.1 billion the year before. The annual default rate was 2.4% in 2011, nearly half the 4.1% rate the year before, Fitch said.
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