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Financial and Field Services for the Real Estate Investment Community

 

Financial and Field Services for the Real Estate Investment Community

 

Financial and Field Services for the Real Estate Investment Community

 

Financial and Field Services for the Real Estate Investment Community

 

Financial and Field Services for the Real Estate Investment Community

 

Financial and Field Services for the Real Estate Investment Community

 

Financial and Field Services for the Real Estate Investment Community

 

Financial and Field Services for the Real Estate Investment Community

 

Financial and Field Services for the Real Estate Investment Community

 

Financial and Field Services for the Real Estate Investment Community

 
 

Financial and Field Services for the Real Estate Investment Community

 

Financial and Field Services for the Real Estate Investment Community

 

Financial and Field Services for the Real Estate Investment Community

 

Financial and Field Services for the Real Estate Investment Community

 

Financial and Field Services for the Real Estate Investment Community

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    Underwriting Support

    The majority of our credit team has over 20 years’ experience underwriting commercial mortgage loans. Birdsey Group focuses these skill sets on underwriting from origination to closing. The group’s dedication and experience has enabled Birdsey to provide services on over 60,000 loans representing a loan balance of over $250 billion. Birdsey is experienced with all property types and all regions of the United States. Specific underwriting services include:

    • Initial Loan Screening and Application Preparation
    • Loan File Due Diligence
    • Property Financial Statement Processing, Input, and Analysis
    • Property, Market, and Submarket Analysis
    • Review and Summary of 3rd Party Reports
    • Property Valuation Analysis
    • Mortgage Credit Analysis for Underwriting, Assumptions, and Transfers
    • Lease Review and Abstract Preparation
    • Rent Roll Analysis
    • Loan Committee Participation
    • Property Inspection Services and Inspection Document Review
    • Agency Loan Delivery Preparation
    • Birdsey Group
    • Birdsey Commercial
    • Birdsey Residential

    Real Estate Advisory Services

    The real estate advisory group is directed by a team of senior commercial professionals with many years of valuation experience across all property types nationwide. This service is most often utilized for underwriting, loan sales, securitization, B-piece acquisition, construction lending, asset management and servicing support. This group is supported by a network of over 750 local real estate professionals across the country, including appraisers, underwriters and brokers. Many of our analysts have professional designations, including MAI and CCIM. Specific services include:

      • Standard site inspections and photos
      • Physical Condition Reports
      • Broker Price Opinions (BPO’s )
      • Third Party Management
      • MAI and SRA Appraisal Management and Review
      • Argus cash flow modeling
      • Rent roll reconciliation
      • Lease Review
      • Market data reports including sale/rent comparables, cap rate analysis, vacancy rate analysis, new construction, area growth rates, etc.
      • Quarterly / Annual Operating Statement Surveillance
      • Loan Assumptions/Modifications
      • Draw/Reserve Disbursement Review
      • Rating Agency Consent Case Preparation
      • Change Lease Review to Lease Review/Consents
      • Change Quarterly / Annual Operating Statement Surveillance to Periodic Financial Analysis Review / Covenant Testing
      • Preparation and submission of Periodic Credit Memorandums
      • Birdsey Group
      • Birdsey Commercial
      • Birdsey Residential

    Commercial and Residential Loan / REO File Due Diligence

    This service includes providing a team of expert due diligence analysts who are experienced in sorting through vast electronic or hard copy files to capture critical data necessary to analyze a loan pool. These services include many tasks associated with a securitization, portfolio acquisition, or loan sale. These tasks include but are not limited to:

    • Data capture and file data input
    • For commercial: review of third party documents such as appraisal, environmental and engineering reports, recent property inspection reports, rent roll and original underwriting. Our analysis includes comprehensive asset summary reports as well as an overall portfolio stratification by property type, delinquency status, loan age, top 5 MSA exposures and top 10 loan balance summaries. Birdsey’s due diligence analysts also prepare loan file checklists in accordance with our client’s guidelines in order to efficiently request due diligence items during loan underwriting.
    • For residential: review the original underwriting, mortgage or deed of trust, note, borrower qualification documents such as tax returns, pays stubs, property tax, insurance bills and escrow verification. Also includes comprehensive fraud review, analysis of property carry expenses, management, maintenance, and comprehensive asset summary reports.
    • Both commercial and residential REO analysis and reporting including a review of all property documents and comprehensive reporting of any title or tax concerns.
    • Birdsey Group
    • Birdsey Commercial
    • Birdsey Residential

    Birdsey Group’s residential loan valuation model and software are designed to advise the investor on possible loss mitigation strategies with the ultimate purpose of maximizing the loan pool’s rate of return. Components of Birdsey Group’s review are customizable according to each client’s needs as far as retaining assets, disposition/re-selling properties or maximizing cash flow.

     

    Servicing & Asset Management Support Services

    Birdsey Group offers a variety of advisory services to investors, lenders and note purchasers. Birdsey Group provides experienced asset managers, work-out specialists, and analysts to execute an efficient strategy to obtain the highest overall return for the investor.

    Our services include:

    • Portfolio Performance Monitoring & Surveillance
      • Quarterly/Annual Asset Reports
      • Loan Assumption/Modification/Transfer
      • Watchlist Review & Management
      • Covenant Testing/Tracking
      • Lease review/audit/abstract
    • Non-performing or Defaulted Loan Workout/Restructuring/Enforcement
      • Develop & execute loan-specific plan
      • Manage enforcement process (foreclosure, receivership, etc.)
      • REO/NPL management, liquidation
    • Property Inspections, Market Studies
      • Annual portfolio compliance
      • Insurance/reserve disbursement review
      • Acquisition/Origination/CMBS B-piece
    • Loan Re-underwriting, Portfolio Valuation
      • Cash flow modeling
      • ASR preparation
      • Third party appraisal/report review
    • Lender Advisory
      • Loan Sale/Purchase Diligence
      • Warehouse line & counterparty due diligence

    A primary component of any distressed loan or property resolution is borrower education. Birdsey Group has assembled a strong team of real estate analysts, asset managers and loan work-out specialists to provide solutions for pressing loan challenges. As a result, Birdsey is able to deliver resolutions to ultimately maximize the return to the investor in the shortest time possible.

    Servicer Support

    Our team of real estate experts has experience with all the facets of servicing for Master/Primary as well as Special Servicers having worked with numerous agency-rated servicers on a variety of assignments. These services include loan file review, insurance compliance reviews, operating statement analysis, lease abstracting, site inspections, borrower request review, etc. The team is sensitive to the contract nuances and requirements on the investor, borrower and servicer levels, and as such, can expeditiously address all areas of concern.

    • Property Inspections
    • Loan Assumptions/Modifications
    • Draw/Reserve Disbursement Review
    • Rating Agency Consent Case Review
    • Lease Consents
    • Periodic Financial Analysis Review/Covenant Testing
    • Surveillance Support
    • Preparation and Submission of Periodic Credit Memorandums
    • Birdsey Group
    • Birdsey Commercial
    • Birdsey Residential

    Capital 

    Provide and support the Lenders One member with timely commitments, consistency of capital, and certainty of execution. This combination defines Birdsey Capital Partners as a preeminent proprietary service and capital provider.

    Renovations Construction - Single and Multi-Family

    • Insurance Restorations
    • Property Renovations
    • Demolitions
    • Build-to-Rent
    • Tenant Turns
    • Estimating
    • Birdsey Construction

    Property Preservation
    • Aspen Grove Check-Ins
    • Regional Vendor Network
    • Customer Focus
    • Robust Vendor Report Cards
    • In-House Quality Control Team
    • Dynamic Recruiting Team
    • Dedicated Team Managers
    Also includes:
    • Vacant Property Registration/Monitoring
    • Conveyance Condition
    • First Time Vacant
    • REO Utility Services
    • Inspections (Bankruptcy & Insurance)
    • Eviction Services
    • Lock and Key
    • Secure Premises
    • Swimming Pool Maintenance/Closure
    • Janitorial
    • Debris Removal
    • REO Maintenance
    • Door Locks
    • Lawn Maintenance
    • Winterization
    • Snow Removal
    • Birdsey Property Solutions

     

    The Birdsey Story

    Founded in 2004, Birdsey Group is a national real estate consulting firm providing an array of specialized services to the Real Estate Investment and Finance industries. Birdsey Group provides these services to support activities like loan origination, servicing, asset management, highly structured securitized transactions, B-Piece underwriting, as well as agency and commercial mortgage-backed securities (CMBS) loan assumptions.

    Headquartered in Atlanta, GA, we actively provide our services in all fifty states as well as Puerto Rico and Guam. Our staff experience includes real estate appraisers, underwriters, due diligence analysts, real estate brokers, developers, property managers, accountants and many other valuable industry disciplines.

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