Situs is a leading provider of special servicing for non-performing loans and real estate-owned assets with extensive nationwide experience in the management, resolution, and disposition of all loan and property types. Since its founding in 1985, Situs has advised lenders on troubled assets. In the late 1980's and early 1990's we were appointed asset managers and disposition agents for the Resolution Trust Corporation (RTC), the Federal Deposit Insurance Corporation (FDIC), Southwest Plan thrifts, and other financial institutions. Since then we have been named the special servicer on behalf of our clients to resolve non-performing convenience store, franchise, retail, and other commercial properties.
Our services include delinquency management, asset management of defaulted loans, and the management and sale of foreclosed real estate assets. We offer significant expertise in developing and implementing strategic action plans that maximize recovery in complex transactions involving modifications, foreclosures, bankruptcies, litigation, and borrower fraud.
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Delinquency Management
Using advanced loan management technology and extensive analytical experience, the Situs loan servicing professionals are able to detect early signs of delinquency and property performance issues. We investigate the situation and try to quickly resolve any borrower issues to avoid loan default.
When appropriate and depending on the needs of the lender, Situs can negotiate directly with the borrower to restructure the loan to maximize recovery. If resolution is not possible, Situs will assume special servicing responsibilities and advise lenders how to best protect their interests.
Asset Management of Defaulted Loans
When a loan goes into monetary or non-monetary default, Situs assumes responsibility for the administration of the asset. Our experienced team develops a strategic action plan designed to maximize recovery through a repayment plan, foreclosure, or possible disposition of the asset. Situs also has qualified individuals who have acted as Receivers for troubled assets under the approval and direction of the Court in multiple states.
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Foreclosure & Bankruptcy Management
The Situs sales staff develops a strategic action plan to sell or reposition an asset and maximize recovery. We have experience in all property types and in all markets, and understand the conditions that influence current and future value. We also work with a large network of foreclosure and bankruptcy specialists in each state to manage foreclosed property and dispose of assets.
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REO Management
Situs has over 20 years of experience in the management and sale of troubled assets throughout the U. S. Working with both institutional and private lenders, Situs develops a strategic action plan to liquidate their real estate-owned (REO) property. With our in-depth understanding of all property types and markets, insight into market conditions that influence an asset’s current and future value, and familiarity with bankruptcies, foreclosures, and loan assumptions, we provide clients with advice that can improve their decision-making and enhance the performance of their real estate asset.
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