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NEW YORK CITY-Although the major food groups still comprise the majority of collateral in CMBS deals, Fitch Ratings says there has been a steady uptick in the number of non-traditional properties over the past four years. Manufactured housing communities and self-storage properties in particular have increased of late.

The ratings agency says the representation of MHCs in Fitch-related securitizations has grown from less than 1% in 2010 to 2.5% in 2011, 3.2% in 2012 and 5.9% as of Sept. 30. Part of the increase can be attributed to larger loans backed by pools of MHC assets, Fitch says. The low rate of defaults for loans in this sector—historically, less than 1%–has been a factor in boosting the size of loans backed by MHCs.

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