COLUMBUS, Ohio - Banc One Corp. said its Dallas-based asset management unit was awarded two multi-year contracts for the Resolution Trust Corp.'s commercial mortgage-backed securitization program.
As special servicer, Banc One Management and Consulting Corp. will manage and service two series of commercial mortgage-backed certificates.
One pool consists of 2,693 mortgage loans in 27 states, with an aggregate principal balance of $823 million. The other consists of 2,770 mortgage loans in 14 states, with a balance of $893 million.
Banc One subsidiaries now manage and service more than 13,500 nonpeforming and fore-closed assets with a bank value in excess of $3 million.