Fitch Affirms ColumbiaNational’s Primary Servicer Rating
The affirmation of the rating reflects CNREF's extensive experience servicing commercial real estate loans, highly experienced management team and staff, and continued dedication to investments in its technology environment. In
The rating also reflects the servicing team's key man risk given the small size of the group, as well as a more limited control environment relative to other Fitch rated primary servicers. While management bench depth and key man risk is noted as a concern given a management team of three, CNREF has demonstrated its ability to absorb management departures as two managers retired in 2014 and their responsibilities were shared among the current management team. Key man risk is further mitigated somewhat by the average experience of the managers and the company's emphasis on cross training. Additionally, there has not been any turnover in the past 24 months.
CNREF acts as a correspondent lender and servicer mainly for life insurance companies as well as
As of
Additional information is available at 'www.fitchratings.com'.
Applicable Criteria
Rating Criteria for Structured Finance Servicers (pub.
https://www.fitchratings.com/site/re/884140
Rating Criteria for
https://www.fitchratings.com/site/re/735382
Additional Disclosures
Solicitation Status
https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=1015673
Endorsement Policy
https://www.fitchratings.com/regulatory
ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTPS://WWW.FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEB SITE AT WWW.FITCHRATINGS.COM. PUBLISHED RATINGS, CRITERIA, AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE, AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE CODE OF CONDUCT SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.
Copyright (c) 2016 by Fitch Ratings, Inc.,
The information in this report is provided "as is" without any representation or warranty of any kind, and Fitch does not represent or warrant that the report or any of its contents will meet any of the requirements of a recipient of the report. A Fitch rating is an opinion as to the creditworthiness of a security. This opinion and reports made by Fitch are based on established criteria and methodologies that Fitch is continuously evaluating and updating. Therefore, ratings and reports are the collective work product of Fitch and no individual, or group of individuals, is solely responsible for a rating or a report. The rating does not address the risk of loss due to risks other than credit risk, unless such risk is specifically mentioned. Fitch is not engaged in the offer or sale of any security. All Fitch reports have shared authorship. Individuals identified in a Fitch report were involved in, but are not solely responsible for, the opinions stated therein. The individuals are named for contact purposes only. A report providing a Fitch rating is neither a prospectus nor a substitute for the information assembled, verified and presented to investors by the issuer and its agents in connection with the sale of the securities. Ratings may be changed or withdrawn at any time for any reason in the sole discretion of Fitch. Fitch does not provide investment advice of any sort. Ratings are not a recommendation to buy, sell, or hold any security. Ratings do not comment on the adequacy of market price, the suitability of any security for a particular investor, or the tax-exempt nature or taxability of payments made in respect to any security. Fitch receives fees from issuers, insurers, guarantors, other obligors, and underwriters for rating securities. Such fees generally vary from
For
View source version on businesswire.com: http://www.businesswire.com/news/home/20161201006234/en/
Fitch Ratings
Primary Analyst
+1-212-908-0343
or
Secondary Analyst
+1-212-908-0869
or
Committee Chairperson
+1-212-908-0606
or
Media Relations:
[email protected]
Source: Fitch Ratings
Ziegler Closes $232.215 Million Financing for Acts Retirement-Life Communities, Inc.
Researchers’ Work from University of Houston Focuses on Medicare and Medicaid (Risk of Nondherence to Diabetes Medications Among Medicare Advantage…
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News