Commercial Defeasance Opening L.A. Office

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.

For reprint and licensing requests for this article, click here.
Originations
MORE FROM NATIONAL MORTGAGE NEWS