Fitch Assigns CMBS Servicer Ratings To AMRESCO

Posted by Orb Staff on June 11, 2010 No Comments
Categories : Commercial Mortgage

Ratings has assigned AMRESCO Commercial Finance LLC commercial mortgage-backed securities (CMBS) servicer ratings of CPS3 for primary servicing and CSS3 for special servicing. The ratings are based on the company's management team, which Fitch says has extensive commercial real estate experience and long company tenure. AMRESCO is also an experienced primary and special servicer of securitized loans. AMRESCO is headquartered in Boise, Idaho, with offices in Charlotte, N.C.; Seattle; and Dallas. The company is a wholly owned subsidiary of NCS I LLC – an investment vehicle primarily owned by Fortress Investment Group LLC and an affiliate of The Goldman Sachs Group Inc. AMRESCO has been operating as a servicer for 17 years, providing loan servicing for performing and nonperforming commercial and residential loans of all types. The company has experience servicing commercial loans secured by various property types such as multifamily, industrial, lodging, office and healthcare, and has a particular strength in the servicing of franchise loans, such as loans for convenience stores and quick-service restaurants. As of March 31, the company's primary servicing portfolio consisted of 808 loans totaling $460.3 million, of which 613 loans totaling $309.9 million were securitized. AMRESCO was also the named special servicer on the securitized portion of the portfolio. As of the same date, AMRESCO was actively specially servicing 308 securitized loans totaling $149.2 million and managing 29 securitized real estate owned (REO) properties totaling $32.2 million. Additionally, as of March 31, the company was special servicing 149 nonsecuritized loans totaling $103.1 million and was responsible for 23 non-securitized REO assets valued at $16.1 million. SOURCE: [link=http://www.fitchratings.com]Fitch Ratings

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