KeyBank Real Estate Capital has teamed up with Hunt Mortgage Group to create a commercial mortgage servicing group and asset management department.
The partnership's new unit, Hunt Servicing, will cater specifically to Hunt Mortgage Group's $11 billion mortgage servicing portfolio, KeyBank Real Estate Capital said in a March 23 press release.
Through this arrangement, Hunt Mortgage Group will handle special asset management functions for commercial mortgage clients while KeyBank will manage cash operations, servicing issues and portfolio-wide asset management.
"As we expand our lending platform with new loan products and a broader range of asset classes, Hunt Servicing will ensure that we maintain an exceptional level of service for our clients," said Nicholas Hoffer, Hunt Mortgage Group chief operating officer, in the release.
Hoffer added that New York-based Hunt performed a "significant level of due diligence" before selecting KeyBank as its partner. KeyBank's reputation and its ratings from Standard & Poor's and Morningstar helped sway the decision, he said.
KeyBank Real Estate Capital is the commercial real estate business unit of $93.8 billion-asset KeyCorp, which is based in Cleveland.
