DBRS Releases Updated Servicer Report for CMLS Financial Ltd.

DBRS has today released a servicer evaluation report on CMLS Financial Ltd. (CMLS or the Company) that provides further detail on the confirmation of its Primary Commercial Mortgage Servicing capabilities as Good and its Special Commercial Mortgage Servicing capabilities as Adequate. DBRS also assigned a rating of Adequate to the Company’s Commercial Mortgage Master Servicing capabilities.

Based in Vancouver, CMLS is the largest private commercial mortgage servicing company in Canada. Originally known as Penmor Investment Services Ltd., CMLS has operated continuously since 1974, providing mortgage servicing for a variety of investors, including banks, insurance companies, investment managers, private lenders and commercial mortgage-backed securities (CMBS) trusts. In addition to mortgage loan servicing, the employee-owned company provides lending products to the commercial real estate industry, maintains a significant commercial mortgage origination business and mortgage valuation business and has been consistently profitable.

Notes:
The applicable methodology is Commercial Mortgage Servicer Evaluations, which can be found on our website under Methodologies.

The updated report and the July 19, 2012, press release are available at www.dbrs.com or by contacting us at info@dbrs.com.