Ann Hambly compares the challenge of modifying a
Based in Grapevine, Texas, the company was founded by Hambly in 2005 to serve as an advocate for borrowers who need help navigating the complicated world of conduit loans. The focus then was on loan assumptions, but Hambly says today 80% of the business is restructuring loans for
Hambly, who has more than 30 years experience in commercial mortgage servicing for companies such as Prudential, Bank of America and GE Capital, recently discussed the intricacies of a CMBS workout.
Eric Stoessel: What percentage of your business comes from the lodging sector?
Hambly: We handle all kinds of commercial real estate anywhere in the nation. Probably 20% of our pipeline is in hotels right now. We’re working on about $5 billion in distressed real estate, pretty evenly distributed across the different [real estate] sectors.