ZAIS Servicing Asset Management LLC (Z-SAM) has been added by Standard & Poor's Ratings Services (S&P) to its Select Servicer List with respect to Z-SAM's commercial special servicing business. Z-SAM is a Dallas-based wholly owned subsidiary of ZAIS Group LLC, a Red Bank, N.J.-based manager with over $8 billion in assets under management, including residential whole loans, residential mortgage-backed securities, commercial mortgages and structured credit.
S&P admits servicers to its Select Servicer List based on an assessment of a firm's operational capabilities for servicing commercial mortgages, residential mortgages and/or asset-backed portfolios. Standard & Poor's performs an analysis of a firm's management and organization, servicing administration, and financial position. To be included and remain on the Select Servicer List, a firm must be deemed to have met the criteria for attaining at least an ‘average’ ranking, with an outlook of ‘stable.’
‘This designation by Standard & Poor's is an important milestone for the implementation of ZAIS Group's strategy to position Z-SAM as a unique provider of special servicing functions to holders of commercial real estate loans, including [commercial mortgage-backed securities] trusts, banks, insurance companies, and other financial institutions and investment funds," says ZAIC Group Chairman and CEO Christian Zugel.
SOURCE: Zais Group LLC