We provide resolution and loan workout related services for sub-performing, delinquent or defaulted commercial and multi-family real estate assets for both portfolio lenders and CMBS trusts, including managing the disposition aspect of the process. We endeavor to minimize expenses, expedite the resolution process and maximize net recoveries. Each potential resolution alternative is evaluated through the development of an asset business plan, which we prepare for all specially serviced assets.
As a special servicer, we will develop an asset management plan and budget by performing an initial analysis that includes a study of the underlying collateral, assessment of the current borrower and operation, and identification of issues regarding licensing, regulatory compliance, tax and insurance. We are also responsible for enforcing the mortgage documents; engaging, directing and monitoring outside legal counsel to administer all legal proceedings; administering foreclosure and bankruptcy proceedings; managing and marketing any owned real estate; and monthly remittance and reporting to the client.