What is special servicer?
The party that manages a CMBS loan that is delinquent, in default, or needs a major workout: negotiating modifications, extensions, foreclosures, discounted payoffs, or asset sales.
Where you will use it: this term comes up in the Real Estate Finance course, and the full course glossary collects every term in one place.
Related terms
From the free Real Estate Finance course by Devon Coombs, CPA, MBA.