 |
 |
||
| HomeAbout UsCareers & BenefitsContact Us | |||
|
|||
 |
Real Estate
|
|  |
||
|
Account Background A major US-based financial institution needed assistance in the securitization of a portfolio representing 472 commercial real estate loans. RR Donnelley provided a comprehensive solution including servicing support, document management, property & market analysis, asset summary reports, due diligence, imaging, document recovery, loan review and re-underwriting. Servicing Support Solution RR Donnelley conducted a complete insurance audit on every loan in the portfolio, secured non-escrow real estate tax information from the client's vendor and contacted local municipalities when the vendor could not provide that information. RR Donnelley also generated loan histories and determined if balance discrepancies resulted from prepayments, modifications, delinquencies or other factors. Document Management Solution RR Donnelley inventoried the necessary loan documents required by the Trustee and drafted Allonges prior to closing and delivered to the client. The document management team also prepared and recorded all assignments for the mortgages, assignments of leases and rents and the UCC financing statements. The team also addressed and corrected any UCC compliance or Trustee issues. They recorded all intervening assignments and delivered the final documents to the client in the client-acceptable format. Property & Market Analysis Reports Solution RR Donnelley visited every property in the portfolio to determine overall property condition. The analysts provided Broker Price Opinions for each property and provided market rent/vacancy data specific to each subject. This included submarket rental/vacancy rates, comparable sub-set rental/vacancy rates, estimated subject rental/vacancy rates, typical tenant expenses and additional market comments. Asset Summary Reports Solution RR Donnelley's team of credit professionals prepared an Asset Summary Report for each loan using the template selected by the client. The team delivered these Asset Summary Reports to rating agencies and potential B-Piece buyers. Due Diligence, Imaging, Document Recovery & Loan Review Solution RR Donnelley's team of underwriters and analysts provided a comprehensive set of solutions to meet the clients due diligence needs. The team first imaged and indexed the necessary documentation and allowed the client access to a web-based document management tool for 24/7 document availability. The team determined the missing documents in each file and provided a Missing Documentation/Information Report to the client. The team built the investor files and created a custom project database that enabled the client to analyze and stratify the loan portfolio. Then, the team entered all the loan-level and property-level data into the database. The team also established and maintained a call center to contact borrower/third party for missing documentation. Finally, the team delivered to the client, potential investors and rating agencies the completed project database in CMBS file format. Re-Underwriting Solution The team of Underwriters at RR Donnelley entered up to three years of historical property operating statements and appraiser's statement of income/expenses for each property. The team addressed any re-underwriting issues with the client and borrower and normalized historical property income and expense statements. The team also prepared pro forma analysis utilizing agreed upon methodology and current market data. They reviewed third party reports and were able to identify the deals strengths and weaknesses. Customer Benefits The client achieved significant savings by utilizing RR Donnelley as their single source and by taking advantage of our scalable resource structure that could accommodate the size of this assignment. Results RR Donnelley was able to fully support the client's needs and guide them through the securitization process. We offered them a one-source solution that successfully met the client's goals, managed their capacity and exceeded their expected timelines.
| | ||||
|
|
||||
 |
|||||
| Home | Contact Us | Privacy Policy & Legal Notices | Site Map |
|
RR Donnelley | RR Donnelley Roman Financial |
