Sometimes when I tell a “civilian” that my career is servicing commercial mortgage loans (“CMLs”) the initial response is, “Is that like collections?” I usually gently respond that I hope not. When I discuss the same with someone in the real estate finance industry the response is often, “So you guys collect payments?” That is […]
Mortgage Brokerage And Servicing: Best Combo Ever?
Anyone who makes their living in the commercial real estate mortgage brokerage business will tell you it is a mercenary trade. Common headwinds are keeping a steady supply of qualified customers, having enough capital sources to allow for an array of financing options for those customers and the sheer competition within the markets served. As if those […]
Changing Servicers Ain’t All Bad
Every year I attend Mortgage Bankers Association’s annual servicing convention. I get to spend three days with many of my favorite people. We catch up on each other’s lives and we talk about an industry that many of us have been in for decades. A recurring theme among many of my colleagues in the lending business […]