SERVICES
Our core competencies include debt and equity underwriting, capital markets and securitization, asset management and servicing, credit and litigation searches/KYC, insurance reviews, lease administration, property accounting, and dedicated staffing solutions.
Debt and Equity Underwriting
Debt Underwriting (CMBS, Agency/GSE, Bridge, Mezzanine, Construction, LIHTC, Warehouse, Syndication Loan Underwriting)
Agreed Upon Procedures (AUP) – detailed CPA financial testing and account reconciliations
Loan Sizing
Rent Roll/Lease Audits
Detailed CAM/RET Recovery Calculators
Bank Reconciliations
Third Party Review (ESA/PCA/Appraisal)
Credit Committee Presentations, Memos or Asset Summaries
Assumption Underwriting
Transaction and Data Room Management
Equity Cash Flow Modeling (ARGUS, Excel)
Transaction/Pricing Analysis
Collect market performance data, interview market participants, and assess comparable properties for competitive benchmarking
Site Inspections and Lease Audits
VBA programming, Statistical Analysis, and Database Management
Capital Markets and Securitization
In depth experience across multiple transactions including CRE CLOs, Conduit and SASB, Agency, and Small Balance. Our team handles re-underwriting and ASRs, prelim and accounting tapes, term sheets, and clearing exceptions on the back end.
CLO Packaging and Securitization Support
Data Tape Creation and Collateral Term Sheets
REG ABII Reviews
Performing/Non-Performing Loan Analysis and Pricing
B-Piece/Risk Retention Investment Analysis
Asset Management and Servicing
Asset and Portfolio Management Strategies
Asset and portfolio level business plan development, implementation and surveillance
Operating Statement Analysis
Input, analysis and normalization of property level operating statements, rent rolls and budgets
Construction Lending and Reserve Management
Analysis and processing of draw requests and supporting documentation
Loan Modifications and Lender Approvals
Analysis and recommendation of modifications to existing loan documents, lease approvals, and loan assumption underwriting
Property and Market Inspection
Physical inspections of the property, market and comparable analysis, property management company assessment
Workout Services
Development and implementation of resolution strategies and management through workout, receivership, foreclosure and disposition
Workout & REO Services
Operation of REO properties and execution of liquidation strategies
Ongoing Management Support
VBA programming, Statistical Analysis, and Database Management
Revolving Credit Facilities
Covers over 235 positions with investment banks and supports over $10 billion in book value for various revolving credit facilities
Credit and Litigation Searches/KYC
Limited/Pre-Qualifier (24 hrs)
OFAC
Regulatory Databases
Sanction Lists
Relevant Media
Criminal Records
Real Time Incarceration Records
Standard Due Diligence (3 to 5 business days)
Limited/Pre-Qualifier Plus
Credit Report
Federal Litigation
County Litigation
Federal Criminal
County Criminal
United States Tax Court
Bankruptcy
Liens and Judgments
Foreclosure Records
UCC
Corporate Filings
Enhanced Due Diligence (up to 7 business days)
Limited/Pre Qualifier Plus
Standard Due Diligence Plus
Professional Licenses
Business and Corporate Affiliations
Additional Docket and Litigation Research/Risk Summary
Credit Risk Assessment
Corporate Credit Risk Assessments
Analysis of qualitative and quantitative factors through a standardized rating scorecard model supporting the Tearsheet-product (“T/S”)
T/S reviews to manage tenant related Credit Risks (e.g. potential new acquisitions, rating downgrades, corporate events)
In-depth Credit Risk Memos (beyond T/S) to provide a more comprehensive assessment for specific tenants (upon request)
Ongoing Risk Control
Market Risk > Bloomberg Launchpad, plus added research capabilities
Issuer Ratings > maintenance of Watchlist (>500 entities)
T/S reviews are initiated via automated trigger functions (Dashboard-implementation)
Reporting
Maintenance of custom-built Dashboard, which summarizes the status of T/S reviews (for b/s transactions), regular Watchlist (“WL”) reporting, Special Projects, and other tasks assigned
Regularly scheduled team calls between clients credit, and/or underwriting team
Monthly summarized rating migration reports
Public rating validation for Top entities by ARI
Regular financial performance update for top tenants (by ARI)
Insurance Reviews
Provide detailed insurance risk analysis on GSE (Government Sponsored Enterprise Loans), HUD, Construction, Bridge, CMBS and Balance Sheet Loans.
Draft waivers and provide alternative recommendations on coverage deficiencies
Recognize the deadline-driven nature of transactions and help make the complexities of insurance more understandable while keeping pace with the deal to close loans efficiently and on time.
Create a blanket analysis to determine if coverages are sufficient in the event of a catastrophic loss
Provide recommendations for environmental coverages based upon the asset’s region
Analyze 3rd party reports to determine if special coverages are required (i.e. Flood, Equipment Breakdown, Earthquake, etc.)
Analyze flood certificates from FEMA to determine if the appropriate coverage is required prior to loan closure
Lease Administration and Property Accounting
Lease Administration
Lease abstraction
Lease set-up
Set-up of options, clauses and recoveries
Monthly and special billings
Cash application
Collections support
Lease and database audits
Annual CAM audits
Estoppel and SNDA preparation
Property Accounting
Accounts receivable
Accounts payable
General ledger account reconciliations
Monthly closing packages and workbooks
Review of third party statements
Budgeting and forecasting
Accounting and finance projects
Accounting system setup and implementation
Roll-up and consolidations
Dedicated Staffing Solutions
Due Diligence and Loan Underwriting
Capital Markets and Securitization
Asset Management/Loan Workouts/Special Servicing