|CRIIMI MAE Services Launches New Web Site for Commercial Mortgage Market
ROCKVILLE, Md., July 12 /PRNewswire/ -- CRIIMI MAE Services Limited Partnership (CRIIMI MAE Services), the mortgage-servicing affiliate of CRIIMI MAE Inc. (NYSE: CMM), has launched a new Web site for investors, loan servicers and other participants in commercial real estate loans and commercial mortgage-backed securities (CMBS).
The new commercial mortgage and CMBS Web site -- www.criimimaeservices.com -- provides registered users with detailed information on commercial mortgage assets in the $20 billion portfolio serviced by CRIIMI MAE Services.
The new mortgage-servicing Web site is the latest Internet site recently introduced by CRIIMI MAE Inc. and affiliates. CRIIMI MAE Inc. recently redesigned its site -- http://www.criimimaeinc.com -- to provide shareholders, the media, and general public with corporate and portfolio information about CRIIMI MAE Inc.
The mortgage-servicing company's site -- http://www.criimimaeservices.com -- provides reporting to CMBS investors in 26 CMBS transactions, and the site was built to support unlimited growth in the mortgage and CMBS servicing portfolio of CRIIMI MAE Services. The site also contains links to CMBS trustees, rating agencies, mortgage servicers and industry associations. Later this year, the company plans to add features that provide borrowers with access to their loan information.
The Internet-based delivery of portfolio information is the latest addition to the platform of commercial mortgage services that CRIIMI MAE Services provides to investors in commercial real estate loans and CMBS. The company's capabilities include acquisition support, mortgage servicing and special servicing.
CRIIMI MAE Services has recently been marketing its commercial mortgage expertise to investors and commercial mortgage companies. CRIIMI MAE Services is the master servicer, primary servicer, sub-servicer or special servicer for more than 3,500 commercial mortgage loans. The three primary rating agencies have approved CRIIMI MAE Services as a commercial loan servicer, master servicer, and special servicer.
"Our experience in dozens of CMBS transactions points to the value of offering a user-friendly Internet site for commercial mortgage investors and servicers," said Brian Hanson, senior vice president of CRIIMI MAE Services.
"The new site emphasizes security, ease-of-navigation and data compatibility with analytical programs," Mr. Hanson said. "We are able to conform to the reporting format developed through the Commercial Mortgage Securitization Association, which requires that data be easily downloaded for manipulation and analysis."
The site provides deal-specific reporting. The specific data provided for each CMBS transaction are governed by the servicing documents for each deal. These may include scheduled and actual loan balances as well as the most recent and historical property operating information.
"We are pleased with the response so far," said Mr. Hanson, who added that CRIIMI MAE Services will continue to listen to users and enhance the company's Web presence.
Behind the Web site is a state-of-the-art proprietary system for monitoring property operating performance, managing mortgage portfolios and handling loan servicing functions.