IMS Loan Servicing
IMS Limited Partnership, operating as Institutional Mortgage Servicing "IMS", an affiliate of IMC, is a fully operational commercial mortgage loan servicer providing a full range of loan servicing and administrative functions to institutional, agency and CMBS loan portfolios and mortgage investors across Canada.
IMS is a Canadian commercial mortgage loan servicer founded in 2009 by the IMC principals. IMS is managed by a team of dedicated servicing professionals with extensive experience in commercial mortgage lending, loan administration, loan defaults, insolvency, and workout transactions.
IMS’s Canadian servicing mandates have exceeded $5 billion (based on loan balances involved) since 2009, and include:
- Primary loan servicing, special servicing and property level underwriting and due diligence
- A full range of CMBS servicing assignments
- Primary Canadian subservicer for Canada’s largest CMBS master servicer and special servicer
- Complex special servicing/ enforcement mandates, including receiverships, CCAA, bankruptcy, workouts and forbearances, with a very successful track record
IMS’s primary servicing offers a full spectrum of services including:
- Loan payment collection and remittance to investors
- Escrow and Reserve Account management
- Realty tax monitoring and payment
- Property insurance coverage compliance
- Property inspections
The IMS servicing team has the most practical experience and detailed knowledge of Canadian CMBS servicing than any other loan servicer in Canada. In this capacity, IMS processes or provides,
- The full range of CMBS servicing assignments, including loan assumptions, modifications, defeasances, changes in control, subdebt approvals, changes in property management, property substitutions, discharges and many other standard and non-standard borrower- initiated requests
- Loan and portfolio level reporting in standard CMBS approved formats
- Property inspections
- Financial statement reviews
- Loan monitoring
If IMS services your CMBS loan, we are committed to providing quick, effective and timely service to both the lender and the borrower.
Although Canadian commercial mortgage loans currently enjoy one of the lowest default/delinquency rates in the world, sometimes things don’t go as expected. When a loan defaults, IMS works proactively on behalf of its lender/investor clients to produce the best possible results.
Working closely with its clients and investors, IMS assesses the default, the borrower and any property level issues, and provides a recommended course of action. Sometimes these result in a workout or forbearance period to permit borrowers to either repay the loan or to take the steps required to put it back into good standing. Other times, this means actively and aggressively pursuing immediate enforcement action in order to maximize loan recoveries and minimize any losses. In each case, our clients rely on IMS’ extensive loan default and experience in coming to the “right” solution to each default.