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Primary Servicer
The term primary servicer refers to companies that monitor and manage loans. The primary servicer of a loan can be the loan originator, the mortgage banker or a third party and maintains direct contact with the borrower. If the loan falls into default or needs special attention, a special servicer would undertake this role. The role of a primary servicer * Analysing the borrower’s financial situation for example reviewing financial statements and business plans and monitoring their performance against their business plans. * Analysing and monitoring the assets on which the loan is secured by regular visits to the property for inspection as well as reviewing lease agreements, management terms and tenant covenant strength. Mortgage servicing volumes The latest Mortgage Bankers Association end of year survey shows the top CMBS servicers and servicing volumes within the industry.MBAA (2010) Mortgage Bankers Association. Total C/MF Loans Secured by Collateral OUTSIDE the US a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan Servicing
Loan servicing is the process by which a company (mortgage bank, servicing firm, etc.) collects interest, principal, and escrow payments from a borrower. In the United States, the vast majority of mortgages are backed by the government or government-sponsored entities (GSEs) through purchase by Fannie Mae, Freddie Mac, or Ginnie Mae (which purchases loans insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA)). Because GSEs and private loan investors typically do not service the mortgage loans that they purchase, the bank who sells the mortgage will generally retain the right to service the mortgage pursuant to a master servicing agreement. The payments collected by the mortgage servicer are remitted to various parties; distributions typically include paying taxes and insurance from escrowed funds, remitting principal and interest payments to investors holding mortgage-backed securities (or other types of instruments backed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Mortgage-backed Security
Commercial mortgage-backed securities (CMBS) are a type of mortgage-backed security backed by commercial mortgage, commercial and multifamily mortgages rather than residential real estate. CMBS tend to be more complex and volatile than Residential mortgage-backed security, residential mortgage-backed securities due to the unique nature of the underlying property assets. The typical structure for the securitization of commercial real estate loans is a real estate mortgage investment conduit (REMIC), a creation of the tax law that allows the trust to be a pass-through entity which is not subject to tax at the trust level. Many United States, American CMBS transactions carry less Prepayment of loan, prepayment risk than other MBS types, thanks to the structure of commercial mortgages. Commercial mortgages often contain lockout provisions (typically a period of 1–5 years where there can be no prepayment of the loan) which they can be subject to defeasance, yield maintenance and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Services Group
Capital Services Group (CSG) is an independent asset management firm established in 1998. Its flagship operation is in Tokyo, Japan, with offices in Thailand, Singapore, Malaysia, Taiwan and the U.S. Loan servicing platform CSG’s primary business includes special servicing of non-performing loans (NPL) and primary servicing for commercial and residential mortgage loans portfolios including CMBS and RMBS. CSG’s servicing operations have been rated by multiple independent agencies since 2001 in Japan, and 2007 in Thailand. Capital’s Japan servicing operation has been the highest rated in Japan by Fitch Ratings Fitch Ratings Inc. is an American credit rating agency. It is one of the three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission and is considered as being one of the " Bi ... for special servicing (CSS1-) since 2007, and it has also been rated by Standard & Poor’s ("S&P") as a commerc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of America
The Bank of America Corporation (Bank of America) (often abbreviated BofA or BoA) is an American multinational investment banking, investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina, with investment banking and auxiliary headquarters in Manhattan. The bank was founded by the merger of NationsBank and Bank of America (1904–1998), Bank of America in 1998. It is the List of largest banks in the United States, second-largest banking institution in the United States and the second-largest bank in the world by market capitalization, both after JPMorgan Chase. Bank of America is one of the Big Four (banking)#United States, Big Four banking institutions of the United States. and one of eight systemically important financial institutions in the US. It serves about 10 percent of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup, and Wells Fargo. Its primary financial se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
