Most commercial real estate borrowers have little to no interaction with the Master Servicer and only deal with the Special Servicer when their loan gets into trouble. The Special Servicer gets involved when a loan defaults and is transferred from the Master Servicer to the Special Servicer. The Master Servicer has the power to transfer loans into Special Servicing when a loan or borrower becomes distressed.
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The Price of Real-Estate Experience: $25,000