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Collateral Passes $10B.

Mortgage Servicing News

| August 01, 2007 | COPYRIGHT 2007 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

BIRMINGHAM, AL -- Collateral Real Estate Capital's commercial and multifamily loan servicing portfolio topped $10 billion recently, and the company expects to see growth continue.

That represents annual portfolio growth of more than 20% year-over-year, a feat made possible by the company's $5 billion in 2006 loan production.

Russell Richardson, director of Collateral's servicing and asset management department, said in a news release that the company continues to grow.

"Though our new loan production continues to add to the portfolio daily, it is nonetheless appropriate to pause for a just a moment to reflect on this milestone in the company's remarkable history," he said.

The company now services more than 1,900 loans for more than 100 different lenders and capital sources, including Fannie Mae, Freddie Mac, FHA, Ginnie Mae, CMBS conduits, insurance companies, banks and pension funds.

According to the Mortgage Bankers Association, Collateral is the nation's 25th largest commercial and multifamily servicer. The company said its servicing duties include providing customized investor reporting and ensuring compliance with the standards set by the Commercial Mortgage Securities Association.

The company also makes liquidity and credit support advances, ...

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Source: HighBeam Research, Collateral Passes $10B.

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