Clayton Holdings LLC, a provider of customized risk analysis, loss mitigation, operational solutions and staffing services to the mortgage industry, has announced that Scott H. Kramer has joined the company as director of commercial default servicing for its Quantum Servicing unit. Kramer who most recently spent five years as president of The Kramer Companies, a commercial real estate consulting firm, brings more than 24 years of real estate industry experience as a commercial real estate developer, consultant and real-estate attorney.
He is in charge of expanding Quantum's commercial real estate special servicing business and will report to Curtis Rethwisch, vice president default servicing at Quantum Servicing Corporation.
"We estimate that as much as a third of the existing commercial loan credits have already matured with borrowers limited in their ability to refinance and lenders struggling to restructure at favorable terms. Additionally, a significant percentage of banks' portfolios are due to mature in the next two to three years. Given declines in CRE values, lower occupancy rates and tighter underwriting guidelines, there is a great deal of anxiety in the market and a growing need for special servicing," said Rethwisch. "Scott's experience as a commercial real estate attorney and a commercial developer makes him an ideal candidate to lead our new commercial special servicing group. Lenders are looking for partners with the expertise and negotiating prowess to help minimize losses and find innovative ways to work with underwater owners to avoid foreclosures and create win/win situations."
Kramer received his B.S.B.A. from the University of Florida and his J.D. from the University of Miami School of Law.
"Although there are tremendous issues facing the industry, Clayton's sophistication in a range of complex mortgage products and its experience in delivering effective solutions for its clients gives us the right base to expand our commercial servicing business," said Kramer.
For more information, visit www.clayton.com.
