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Servicer Evaluation: KeyBank Real Estate Capital May 11
Standard & Poors, May 2011
The rankings on KeyBank Real Estate Capital (KBREC) as a commercial mortgage servicer, master servicer, and special servicer are STRONG. In our view, KBREC operates with highly skilled and experienced personnel, a well-designed organizational structure, and effective technology tools to address its complex reporting requirements. Additionally, KBREC's procedures and documented practices indicate to us that the company is quite experienced with CMBS structures and related compliance issues. The internal audit process is a multi-level program that includes recurring operational risk reviews by the parent bank, an annual Regulation AB attestation, an annual SAS 70 audit, and a dedicated compliance unit within the servicing organization that conducts quality control examinations. Our ranking acknowledges the company's proficiency with cash managed loans, larger...
Companies mentioned in this report are: KeyBank Real Estate Capital
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
KeyBank Real Estate Capital