Commercial Defeasance, a Charlotte, N.C.-based company that helps manage the process of defeasing commercial mortgage-backed securities loans, is opening a new office in Los Angeles next month.Matt Rothman, vice president of sales, will manage the new office, according to the company. Defeasance is a process whereby a portfolio of government securities replaces real estate as the collateral for a mortgage loan. Redemption of principal and interest from the securities pays all remaining debt service, so the note technically remains in place but is repaid from the securities purchased.
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