Newport Beach, Calif.-based diversified financial services provider Sabal Financial Group is expanding into third-party servicing, special servicing and construction loan administration nationwide.
The new subservicing business division will be able to benefit from the firm’s expertise with large loan portfolios, said Sabal’s CEO Pat Jackson, gathered during years ofspecializing in “servicing significant private equity investors and regulatory agencies.”
Sabal services performing loan assets and special servicing of nonperforming loans in varying degrees of default with a focus on distressed debt. Since its inception in 2009 the firm has managed nearly $6 billion in real estate and land assets.
Real estate veteran Vartan Derbedrossian, who will head Sabal’s third-party servicing office in Pasadena, Calif., brings 15 years of experience in loan servicing, retail banking, asset management, liquidation management, risk management, policy administration and lending operation.
The firm’s chief financial officer Ron Warwick, a 34-year commercial real estate lending veteran, also will play “a significant role” with the new operations.
The third-party servicing division offers primary servicing and special servicing of commercial real estate, acquisition development and construction loans.
In addition it will provide construction loan administration and risk management services from start to finish, at the national level. The process includes document and cost reviews followed by construction and budget monitoring, and disbursement risk administration assessments through lien searches, title updates and reporting.
Sabal’s servicing operations are supported by a scalable technology platform designed to facilitate the servicing of loan portfolios of all sizes. The new business unit will use the platform to service large loan portfolios and manage loan default risk for lenders, banks, investment funds and insurance companies.
It marks the expansion of the firm’s platform “to serve the broader national marketplace,” Jackson said.
