Collateral Passes $10B

Collateral Real Estate Capital's commercial and multifamily loan servicing portfolio topped $10 billion recently, and the company expects to see growth continue.

That represents annual portfolio growth of more than 20% year-over-year, a feat made possible by the company's $5 billion in 2006 loan production.

Russell Richardson, director of Collateral's servicing and asset management department, said in a news release that the company continues to grow.

"Though our new loan production continues to add to the portfolio daily, it is nonetheless appropriate to pause for a just a moment to reflect on this milestone in the company's remarkable history," he said.

The company now services more than 1,900 loans for more than 100 different lenders and capital sources, including Fannie Mae, Freddie Mac, FHA, Ginnie Mae, CMBS conduits, insurance companies, banks and pension funds.

According to the Mortgage Bankers Association, Collateral is the nation's 25th largest commercial and multifamily servicer. The company said its servicing duties include providing customized investor reporting and ensuring compliance with the standards set by the Commercial Mortgage Securities Association.

The company also makes liquidity and credit support advances, solves property insurance challenges and manages hedges for variable-rate credit facilities. Collateral also provides default management services including approval of loan modifications, conducting workouts, foreclosures and REO management.

Earlier this year, Collateral said it converted its servicing portfolio to the Enterprise! technology platform offered by Midland Loan Services.

"Making this kind of infrastructure investment is consistent with our philosophy, as it provides our servicing and asset management department with the absolute best technology available, enhancing customer service for both our borrowers and our investors," said David Roberts, president and CEO of Collateral Real Estate Capital.

Collateral is one of the nation's largest privately held commercial real estate lending and mortgage banking firms. The firm has 16 offices nationwide and is an approved seller/servicer for Fannie Mae, Freddie Mac and the FHA. It is also an exclusive correspondent for its affiliate, New South Federal Savings Bank. (c) 2007 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved. http://www.mortgageservicingnews.com http://www.sourcemedia.com

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