Fitch Affirms Pacific Life’s CMBS Servicer Ratings

Posted by Orb Staff on July 23, 2010 No Comments
Categories : Commercial Mortgage]Fitch Ratings[/link] has affirmed Pacific Life Insurance Co.'s (Pacific Life) commercial mortgage-backed securities (CMBS) servicer ratings in the primary, master and special servicer categories at CPS1, CMS2+ and CSS2, respectively. The primary servicer rating is based on Pacific Life's ability to effectively service mortgage loans in CMBS transactions, with a particular strength in servicing large loans, including A/B note structures. The master servicer rating reflects Pacific Life's continued ability to report and remit to CMBS trustees and to oversee third-party servicers. The special servicer rating is based on Pacific Life's experienced commercial real estate loan workout and asset management staff. As of June 30, Pacific Life's commercial mortgage primary servicing portfolio consisted of 553 loans totaling $15.8 billion of which 331 loans totaling $2.7 billion were CMBS. As of the same date, the company was named master servicer on 10 CMBS transactions consisting of 313 loans totaling $1.1 billion. Also at the same date, Pacific Life was the named special servicer for 14 U.S. CMBS transactions consisting of 296 loans totaling $2.2 billion. SOURCE: [link=]Fitch Ratings

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