What exactly is a Atlanta Commercial Real Estate   CMBS foreclosure and how is it different from a bank foreclosure??

CMBS stands for (commercial mortgage backed security) and is a popular loan used by buyers of commercial real estate.

Investors buy bonds for  a certain return in CMBS securities. Different loans and asset classes and types are pooled together and  transferred into what is commonly know as a REMIC (Real Estate Investment Mortgage Conduit).

A servicer is assigned to manage the REMIC - trust of the pool of loans. With the servicing if the asset is performing the loans will be handled by  a Master Servicer and sometimes a Primary servicer who handles sub-tasks of the Master Servicer.

When one of the loans in the pool becomes non-performing it is transferred to a Special Servicer.No matter which servicer manages the loan they have to comply with the PSA (pooling and servicing agreement) created along with the trust when the CMBS is securitized.

Typically the CMBS defaulted asset has to be disposed of as the PSA agreement does not allow for the workout options of local,regional,and national banks.For this reasons CMBS foreclosures offer a great deal to the buyers as they can't (extend and pretend) like regular banks and must sell.