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AEGON USA Realty Advisors, Special Servicing unit
was established in 1991 to handle REO’s and
distressed debt assets as a result of the collapse
of the savings and loan industry. Our subsequent
achievement in becoming a preferred contractor for
the Resolution Trust Company (RTC) led the group to
successfully resolve all the distressed assets from
27 financial institutions. As a result of this
experience the group became a permanent part of the
AEGON’s real estate group. Since 1996 the group and
has been rated “Above Average” by Standard and
Poor’s as a Special Servicer.
The role of the AEGON Special Servicing unit expands
well beyond that of a traditional special servicer.
In addition to conventional sub-performing and
non-performing loan workout and foreclosure
activities, the group handles a wide range of
non-monetary loan level and collateral level issues.
The Special Servicing unit also provides its
specialized resources for AEGON’s Private
Placements, CMBS and special real estate projects.
The Special Servicing department has a veteran and
knowledgeable management team and staff. Experience
and tenure within the Special Servicing department
is extremely high. This background in the real
estate industry is bolstered by a dedication to
specialized training programs tailored to the
experience and tenure of its personnel. Internal and
external subject matter experts provide timely and
in-depth education on Special Servicing related
topics. In addition, the department benefits from
the resources of other disciplines within AEGON USA
Realty Advisors, Inc., including the real estate
valuation group, technical services (engineering and
environmental), third-party contracting, mortgage
loan servicing, accounting and legal services.
The Special Servicing staff approaches their primary
tasks from our investor’s perspective. Decisions are
made after careful consideration of the investor’s
objectives. Special Servicing operations are
conducted within a well-automated and integrated
team environment. The majority of the recoveries by
the Special Servicing department have been achieved
through full payoffs or satisfactorily negotiated
restructurings. Foreclosures, as a recovery event,
have been minimal and well below the ACLI (American
Council of Life Insurers) standard.
Directory:
Mr. Randall Smith
Vice President, Special Servicing
319. 355. 8949
rrsmith@aegonusa.com |
