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.[1]

Total C/MF Loans Secured by Collateral OUTSIDE the US as of December 31, 2010

RankCompanyAmount ($ millions)Number of LoansAverage Loan Size ($m)
1Hatfield Philips International, an LNR Company$28,756194$148.2
2Deutsche Bank Commercial Real Estate$24,845169$147.0
3PNC Real Estate / Midland Loan Services$11,5411,461$7.9
4GEMSA Loan Services LP $9,649565$17.1
5Manulife Financial / John Hancock$8,7701,890$4.6
6Capital Services Group$4,2383,941$1.1
7Berkadia Commercial Mortgage LLC$2,359169$14.0
8LNR Partners Germany, an LNR Property Company$1,022543$1.9
9Bank of America (Merrill Lynch)$86731$28.0
10TriMont Real Estate Advisors$74845$16.6
11Pacific Life Insurance Company$51920$26.0
12Prudential Asset Resources$33412$27.9
13The Bank of New York Mellon - Asset Solutions Division$7830$2.6

References

  1. MBAA (2010). . Mortgage Bankers Association.
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