The shorter the time a loan is in special servicing, the higher the recovery rate, according to a new analysis from Moody's Investors Service.

The rating agency’s third quarter surveillance review of U.S. commercial mortgage backed securities and commercial real estate collateralized debt obligations, released today, examines recovery rates in outstanding CMBS transactions for each of the largest special servicers, dissecting the data by strategy, securitization vintage, property type, year of liquidation and months to recovery.

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