DENVER Newman & Associates, a subsidiary of GMAC Commercial Mortgage Corp. of Horsham, Pa., has created a loan sales and trading group that focuses on specialty sales of commercial loan portfolios and participation in mortgages.
The group represents insurance companies, banks, thrifts, real estate investment trusts, and conduits in the sale of performing, subperforming, and nonperforming commercial and multifamily mortgage loans, according to Stuart M. Salins, the senior vice president of Newman who runs the group.
There is a substantial opportunity with institutions that want to divest themselves of mortgages for a variety of reasons to generate liquidity and capital, modify portfolios to address concentration issues, and to relieve regulatory pressures, he said in an interview.
Newman is different from other loan trade participants because we will look at the transaction, really look at it regarding the needs of the client, Mr. Salins said.
GMACs resources help Newman put together securities packages, he said. When we need due diligence done on a portfolio, GMAC has enormous capabilities in that area. We can provide unparalleled service in that area.
Newman & Associates underwrites multifamily housing bonds and secondary market transactions, including whole-loan portfolio sales, senior/subordinate participation sales, and A/B nonrated securitizations.
The company completed 145 bond transactions with a total value of more than $2.5 billion last year.
During the past 12 months it has structured and distributed more than $2 billion of commercial mortgage securitizations.