Ann Hambly, the founder of 1st Service Solutions, which advises borrowers in restructuring commercial mortgage-backed securities loans, drew a contrast with previous crises: “Here, the whole economy has been shut down and everybody needs help.”
While delinquencies on CMBS in March were still well off their 2012 high, Moody’s analysts have cautioned that “cash-flow stress, particularly across hotels and retail properties,” will raise defaults.
