April Fool’s Day 2020: No Joke for Borrowers, Loan Servicers
Commercial Property Executive, March 30, 2020–Paul Fiorilla, Debra Morgan
This year, April 1 is significant to the commercial real estate industry for decidedly unfunny reasons. On that date, the first commercial mortgage loan payments will be due since the COVID-19 pandemic overtook the U.S. If the CMBS and collateralized loan obligation markets experience a significant wave of late or missed payments, it will force a series of hard decisions that will have a profound impact on the market.