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CMBS Watch: Are Condo Conversions Loans Too Risky for CMBS?	By Erika Morphy

Condo conversion loans have been increasingly capturing an ever-larger part of the underlying collateral of CMBS deals. Moody's Investors Service noted this phenomena earlier this year, along with the observation that a growing number of condo conversion loans are being included in commercial real estate CDOs. Now a new Fitch Ratings report underscores the potential risk in this trend.

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