Charlotte, N.C.-based defeasance consultancy Waterstone Capital Advisors LLC is expanding into the loan due diligence, real estate owned (REO), asset management and loan advisory businesses.
The company's loan portfolio due diligence team includes both internal specialists and a nationwide network of contractors in underwriting, loan servicing and asset management. Waterstone's REO asset management group is handling a growing portfolio of properties for third parties, responsible for maximizing resolution of the assets.
Waterstone, which is integrating a Web-based commercial loan servicing platform, is currently in the process of obtaining its special servicer rating for distressed and defaulted loans. The company hopes to receive that designation by the end of the year.
‘The economy has stressed all kinds of commercial real estate loan products, including whole loans, [commercial mortgage-backed securities], [collateralized debt obligations], participations and construction loans – creating massive loan defaults," says John Church, a principal with the company. "We believe lenders and special servicers will increasingly utilize loan sales as a preferred disposition strategy, which will create greater demand from investors for customized loan servicing solutions."
SOURCE: Waterstone Capital Advisors LLC