CC_GO_100.4 Commercial/Multifamily Sale and Securitization and Commercial/Multifamily Servicing
MBA Member Price: $0.00
Nonmember Price: $79.00Purchase
This is a commercial/multifamily course.
The servicing process begins immediately after a loan is closed and continues until the loan is paid off and the related lien is released. Servicing is the process of enforcing and overseeing loan document terms and conditions to protect the designated interested parties and the property. Among other functions, servicing involves maintaining loan records in a servicing system, monitoring and protecting the collateral, managing borrower customer service and correspondence, distributing remittance and other reports as required in the servicing agreement, and monitoring foreseeable and unforeseeable events related to the loan in an attempt to recognize and mitigate potential adverse events prior to a loan default.
Closed loans can be held in a lender's portfolio, or they can be sold and securitized. The sale and securitization of a loan impacts the servicer's obligations for the loan, and may change the terms of the servicing agreement.
CMF Sale and Securitization and CMF Servicing addresses what happens once a loan is closed. It begins by discussing the sale and securitization process, and ways in which a sale or securitization can impact servicing. It then introduces key servicing functions. Throughout the course, key servicing functions are examined in some detail. These include new loan setup, asset management, remittance and reporting, portfolio administration and risk management, and servicing of delinquent or defaulted loans.
Seat time approximately one (1) hour.