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Real Estate Encyclopedia | Property Law Dictionary | Real Estate Terms | Meanings & Definitions |      Aug 07, 2020

More New Real Estate Terms

special servicing

A specialist credit management service that aims to maximize the return on troubled loans and protect the value of assets secured by such loans. A special servicer offers advice to lenders and servicers to prevent and correct monetary and non-monetary default. This may include predictive analysis such as assessing the investment value of loans or securities, analysing default issues such as the time loans have been in default, the frequency or severity of defaults, foreclosure time frames and bankruptcy risks. A special servicer also offers advice on collection of arrears, restructuring loans, negotiating moratoriums, ensuring the protection of loans by the payment of taxes and insurance and arranging refinancing to eligible borrowers. In addition, the special servicer is required to pursue foreclosure and repossession when other avenues have been exhausted. A special servicer unit may include valuation, facilities management, engineering, environmental, insurance, legal and accounting services. See also servicer.

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