Asset Management and Surveillance

Situs Asset Management specializes in “high-touch”, highly-structured loan servicing including various forms of subordinate debt, which requires a higher level of real estate expertise than that of most CMBS servicers. 
In addition, portfolios managed by Situs include:

• Principal involvement in supervising loan workout staff and credit committee participation which provides greater CRE insight
• Unsurpassed customer focus due to multiple Situs relationships (due diligence, servicing, asset management, technology, and others)
• Scalability through access to and use of underwriting, valuation, and market resources support provided by other Situs business lines
• Multiple office locations, which enables first-hand knowledge of local and major markets and CRE participants
• Web-accessed technology for re-underwriting, servicing, asset management, and market research

Situs Asset Management has created a relationship-based structure whereby asset managers are assigned as the single point of contact enhancing customer service and providing a high level of oversight for the following activities:

• Borrower requests: modifications, consents, waivers, assumptions, (due on sale / encumbrance)
• Property inspections performed pursuant to servicing agreement
• Surveillance / property performance analysis and valuation
• CMSA reporting
• Special servicing transfers
• Reserve and draw disbursement oversight
• Waterfall administration
• Watch list monitoring pursuant to servicing agreement
• Monitor loan performance daily through delinquency reporting, suspense reports and trial balance
• Enhanced the Asset Review Process through system improvements