Master Servicing
As Master Servicer, AMRESCO assumes ultimate responsibility for the administration of all commercial loans contained in a securitization, or owned by a third-party lender or investor.
Responsibilities vary according to the underlying servicing agreement, but common duties include:
a) Invoicing, collecting monthly loan payments, managing escrow accounts and calculating loan payoffs;
b) Preparing investor reports and instructing the trustee how to disburse the collected funds;
c) Making advances of missed payments to the bond trustee;
d) Monitoring financial reporting and covenant compliance of the underlying obligors;
e) Monitoring the payment of real property taxes, ensuring that applicable insurance coverage is maintained and filing applicable UCC continuation and termination statements;
f) Documenting loan assumptions, collateral swaps and lien releases; and
g) Transferring loans that become non-performing to the special servicer or special servicing department.