WeGoLook announces services for due diligence with Commercial Mortgage Backed Securities by creating customization templates meeting the requirements of the Special Servicer to inform them of the property's condition, location, occupancy and more.

1. Commercial Mortgage Backed Securities
(CMBS) Property Verification and
Inspections
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2. Like other mortgage backed securities, a commercial mortgage backed
security is created when a bank takes a group of loans (commercial
loans) that it has on its books, bundles them together, and sells them in
a securitized form as a series of bonds to investors.
These bonds vary in yields and are assigned credit ratings, by nationally
recognized agencies, ranging through the various investment grades
(AAA, AA, etc.).
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3. These bond ratings play an important role when assigning the tranches
(bonds) to senior or subordinate levels where the most senior tranches
typically receive repayment of principal first and therefore have the
lowest risk.
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4. The CMBS industry has a few main participants, particularly the Primary
Servicer, the Master Servicer and the Special Servicer.
• The Primary Servicer is the company that monitors or manages the
loan.
• They could be the originator of the loan or just a third party but
primarily they maintain direct contact with the borrower.
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5. The Master Servicer then sub-contracts out loan administration duties
as well as see the loan through to its maturity unless a default occurs.
The Master Servicer also manages the flow of payment and has an
ongoing interaction with the Primary Servicer.
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6. Once a default occurs or a loan is judged to be in imminent default the
loan is then transferred to a Special Servicer. The Special Servicer is
then responsible for the management and resolution of the defaulted
loan. They also take over all authority for the loan.
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7. Currently, Special Servicing makes up 13% of the entire CMBS market
and is broken up as follows:
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8. When a Special Servicer first gets a loan delegated to them, they usually
know nothing about the loan, the situation, or the property itself.
Because of this, Special Servicers typically follow a process, inorder to
thouroughly understand the situation, in which one of the most
important steps is the due diligence on the property site itself.
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9. Many companies are learning of how WeGoLook® steps in to assist with
due diligence. Each asset and situation is unique and WeGoLook’s
personalized reporting templates are customizeable to the
requirements of the Special Servicer.
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10. WeGoLook’s over agents are dispatched quickly to the property and will
supply the Special Servicer with the customized and detailed reports
necessary to adequately inform them of the properties condition,
location, occupancy and much more.
WeGoLook is able to perform
inspections for any type of
property.
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11. http://www.wegolook.com
We help prevent Online Fraud
• WeGoLook™ provides visual confirmation and a personalized report,
completed by a real person, to verify a product, person, place or thing.
• Over 7,000 (background check verified) Lookers who will travel in
person anywhere in the US and verify an item’s existence by completing
a personalized report including current photos, video and more.
• WeGoLook™ customers are better informed, avoid costly surprises,
plus benefit from unbiased confirmation without having to travel.