CMBS special servicers are working out underperforming mortgages at an increasingly faster pace. However, these companies are still fighting an "uphill battle" this year, Fitch Ratings analysts said in a report released today.

Loans transferring out of special servicing totaled a record $27.9 billion over 3Q10),  which exceeds figures during the last four years combined, the rating agency said. The rate of loans entering special servicing also fell for the first time in more than two years — $90.1 billion through 3Q10 versus $92 billion as of 2Q10.

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