SHELTON, Conn., Nov. 16, 2010 /PRNewswire/ -- Clayton Holdings LLC, a leader in providing customized risk analysis, loss mitigation, operational solutions and staffing services to the mortgage and fixed income industries, announced today that its Quantum Servicing unit is now offering a full-range of loan administration and asset management services to investors in small balance commercial real estate loans.
Quantum's Commercial Servicing Division, based in Tampa, FL, will primarily handle non-performing commercial loans - acquisition, development and construction (ADC), multi-family, shopping center and strip mall -- valued at $5 million or less. According to Fitch Ratings, commercial real estate losses in 2010 have already reached $21.66 billion so far this year, surpassing the 2009 levels of $17.75 billion. The number of defaults through 3Q 2010 (1,452) nearly equals the total for all 2009 (1,464).
Paul Bossidy, chief executive officer of Clayton, said that Quantum was preparing to enter this market when several large investors approached the company and asked them to coordinate their efforts. As a result, Quantum is already servicing approximately 6,000 non-performing and performing small balance loans.
"We are approaching this new market the same way we approached residential special servicing," said Bossidy. "We're not trying to be all things to all clients. Instead, we're focused on a growing but under-served part of the market, not the mega deals. Our goal is to be the best-in-class option for investors looking for customized servicing programs, and higher levels of collaboration and transparency from their servicer."
Bossidy added: "Our commercial real estate due diligence capabilities should also feed into our servicing operations. Clients can now use Clayton to evaluate distressed CRE portfolios and then service these loans once they have been acquired."
Scott H. Kramer, a commercial real estate veteran with 20-plus-years experience directs Quantum's commercial default servicing operations. He reports to Quantum's President Scott Conradson.
About Clayton Holdings LLC
Clayton Holdings LLC headquartered in Shelton, Connecticut, is a leading provider of customized risk analysis, loss mitigation and operational solutions that support the mortgage and fixed income industries. Clayton's services encompass analytics, residential and commercial loan due diligence, consulting, credit risk management and surveillance, independent pricing, specialized loan servicing, and staffing solutions. Clayton provides transparency, independence, expertise and quality resources to leading investment & commercial banks, institutional investors, government agencies and service providers internationally. Additional information is available at www.clayton.com.
About Quantum Servicing Corporation
Quantum Servicing Corporation, headquartered in Tampa, Florida, is a wholly owned subsidiary of Clayton Holdings LLC. Quantum performs primary and special servicing on prime, Alt-A, sub-prime performing and non-performing loans in both the residential and commercial real estate sectors — maximizing financial returns for clients' investments by improving loan performance, increasing cash flow and, when necessary, facilitating liquidation. Quantum specializes in transforming heavily delinquent, non-performing loans into cash-flowing assets, delivering customized solutions through proprietary technology, extensive analytics and reporting, effective mitigation strategies and an experienced, well-trained staff.
SOURCE Clayton Holdings LLC