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NEW YORK CITY-The volume of CMBS loans in special servicing fell $5.8 billion to $74.8 billion at the end of the third quarter, Fitch Ratings said Monday. That’s the steepest quarterly decline since 2010, when the volume of specially serviced CMBS reached $91.7 billion.

Fitch chalks it up to both “a significant drop” in the number of loans being transferred into special servicing and a large number of loans either being liquidated or returning to performing status. The quarterly volume was $5.5 billion in newly transferred loans, compared to a previous quarterly average of $11.8 billion

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