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Asset and Loan Underwriting

For more than 30 years, Situs has been the leading underwriter to the real estate industry. Situs experts average more than 20 years of experience and take an active role in deals— acting as a partner for the client, highlighting red flags, commenting on deal assumptions, and thoroughly analyzing the assets and transaction parties. That expertise, leveraged with leading technology and best practice processes, is why Situs has worked on more than $1 Trillion of real estate deals.

 

Quality Control

Whether approaching large portfolio underwriting assignments or asset thresholds for DFAST or CCAR stress testing, our seasoned professionals implement our tried and true Quality Control (“QC”) process, which involves multiple levels of review.

Flexibility and Scale

Situs is the largest employer of senior underwriters in the market, providing the ability to rapidly deploy a large team of experienced professionals both to in-house projects as well as to multiple locations onsite at the client locations.

Multiple Geographies

The Situs team has experience with all major property and lease types and has worked with leases in 10 currencies and financial statements in 5 languages.

Origination underwriting of 2,000 large portfolio loans in 2015

More than 60,000 lease reviews since 2005

More than 50,000 properties sized since 2010

Provided due diligence & valuations on €3 Billion of CRE across Europe in the past two years

Underwriter on €30 Billion+ CRE loans across Europe since 2004

Proprietary training to ensure highest quality underwriting available globally

Advised on €30 Billion+ of CRE NPL and PL debt transactions in the past four years

Indicative valuations for 2,000+ properties in the last three years

solutions

Origination Underwriting

Origination Underwriting

Origination underwriting for 2,000 loans in 2015 with a significant portion being large portfolio assignments

Debt and Equity Underwriting and Due Diligence

Debt and Equity Underwriting and Due Diligence

Global scale with specialized property type teams on equity investments, CMBS, GSE, balance sheet, mezzanine, bridge, b-piece and portfolio

CRE Warehouse Underwriting

CRE Warehouse Underwriting

Dedicated team for loan-on-loan re-underwriting for warehouse lines

Performing And Non-performing Loan Underwriting And Due Diligence

Performing And Non-performing Loan Underwriting And Due Diligence

Leading independent firm for evaluating debt transactions for prospective buyers

Re-underwriting Of Residential Mortgages

Re-underwriting Of Residential Mortgages

Situs is the largest re-underwriter for mortgage warehouse providers in Europe

Loan Sizing / Equity Deal Prescreening

Loan Sizing / Equity Deal Prescreening

Rapid accurate underwriting for first run deal analysis

Vendor Due Diligence

Vendor Due Diligence

Review independence, accuracy and integrity of client vendors

Lease Abstracting/Audit

Lease Abstracting/Audit

Staffed by attorneys with best in class processes that offer the highest quality abstracts and audits

Cash Flow Review/Modeling/Argus Modeling

Cash Flow Review/Modeling/Argus Modeling

Cash flow projection, transaction analysis and asset valuation by experienced teams with significant market knowledge

Site Inspections

Site Inspections

Experts to conduct thorough site inspections for accurate real estate evaluation

Third Party Report Reviews

Third Party Report Reviews

Independent diligence and review of 3rd party reports, appraisals and title investigations

Agreed Upon Procedures /Forensic Accounting

Agreed Upon Procedures /Forensic Accounting

CPA-led team focused on deep dive of operating businesses

Loan Closing Support

Loan Closing Support

Loan processing to support timely closing; sources and uses/provision schedule

Presecuritization Pool reviews

Presecuritization Pool reviews

Due Diligence at origination of European asset prior to issuing

Securitization/Syndication Support

Securitization/Syndication Support

Industry leading team of experts averaging decades of experience

B-piece Underwriting

B-piece Underwriting

Premier underwriter of the B-piece tranche in CMBS

Loan Assumptions / Borrower Consents

Loan Assumptions / Borrower Consents

Specialty practice area focused on underwriting borrower requests made to loan servicers including loan assumptions/transfers, draw requests, and other consent requests

Loan Quality Assessment and Grading

Loan Quality Assessment and Grading

Identify and grade all loans reviewed

Residential Mortgage Pool Evaluation and Management

Residential Mortgage Pool Evaluation and Management

Drive-bys evaluations, financial analysis, and process management of residential mortgages

asset classes

Commercial Real Estate - All Asset Classes

Residential Real Estate

Automobile Loans

Credit Cards and Consumer Lending

Commercial and Industrial

Senior Executive,

Global Investment Bank

Situs has a large and diverse client base that includes large CCAR banks, all the way down to small, community banks currently experiencing a lot of M&A. Obviously, they will continue to need the diligence services. Once you have the data, you have to figure out what to do with the data. And that is where we come in.

News & Insights

Case study

Convertible Bond Case Study

Convertible bond offering to finance a large real estate portfolio of commercial and residential units was thoroughly reviewed by Situs and processed successfully for 150% return.

Thought Leadership

Caveat Emptor

Post Great Recession, there is a continued global economic slowdown, new cultural shifts and the Federal Reserve is raising the federal funds rate just as other central banks increase their quantitative easing, but there are a number of opportunities as well.

Thought Leadership

Brexit – A Revolution in the Making

The Brexit was a seismic event politically, culturally and financially. As soon as the markets opened, the impact was felt immediately. Situs RERC's Ken Riggs looks at the Brexit and what it could portend for the global investment landscape.

CONTACT US

Andrew Phillips

Managing Director
Head of Business Development

(212) 294-1340

andrew.phillips@Situs.com

U.S. TEAM

Chip Good

Managing Director
Business Development

+44 (0) 20 7220 1878

Chip.Good@Situs.com

EUROPE TEAM

Michael Chadwick

Managing Director

+44 (0) 7392 438 924

Michael.Chadwick@Situs.com

EUROPE TEAM

Tim Keast

Executive Managing Director
Loan Risk Advisory

+44 20 7220 1885

Tim.Keast@Situs.com

EUROPE TEAM