Clayton Holdings LLC, a leader in providing customized risk analysis, loss mitigation, operational solutions and staffing services to the mortgage and fixed-income industries, has announced that its Quantum Servicing unit is now offering a full-range of loan administration and asset management services to investors in small balance commercial real estate loans.
Quantum's Commercial Servicing Division, based in Tampa, Fla., will primarily handle non-performing commercial loans—acquisition, development and construction (ADC), multi-family, shopping center and strip mall—valued at $5 million or less. According to Fitch Ratings, commercial real estate losses in 2010 have already reached $21.66 billion so far this year, surpassing the 2009 levels of $17.75 billion. The number of defaults through 3Q 2010 (1,452) nearly equals the total for all 2009 (1,464).
Paul Bossidy, chief executive officer of Clayton, said that Quantum was preparing to enter this market when several large investors approached the company and asked them to coordinate their efforts. As a result, Quantum is already servicing approximately 6,000 non-performing and performing small balance loans.
"We are approaching this new market the same way we approached residential special servicing," said Bossidy. "We're not trying to be all things to all clients. Instead, we're focused on a growing but under-served part of the market, not the mega deals. Our goal is to be the best-in-class option for investors looking for customized servicing programs, and higher levels of collaboration and transparency from their servicer."
Scott H. Kramer, a commercial real estate veteran with 20-plus-years experience will direct Quantum's commercial default servicing operations. He will report to Quantum's President Scott Conradson.
For more information, visit www.clayton.com or www.quantum-servicing.com.