Sub-Servicer
A sub-servicer is a servicer engaged by a master or special servicer to perform some required real estate services under pooling and servicing agreements, such as property inspections, foreclosure services, or loan administration. The master or special servicer remains legally responsible for the sub-servicer's activities.
- Where it applies
- Generally, not specific to New York
- When it comes up
- Post-closing servicing; special servicing
- Property types
- CMBS and securitized loan servicing
In practice
Sub-servicer oversight is a control point; procedural gaps here can degrade workout timelines and data quality.
Related terms
Institutional and Capital Markets
- Agency Securities
- Commercial Mortgage-Backed Securities (CMBS)
- Ginnie Mae Mortgage-Backed Securities (Ginnie Mae I)
- Master Servicing Fee
- Pooling and Servicing Agreement (PSA)
- Preliminary Prospectus ("Red")
- Private Label Securities (Non-Agency Securities)
- Private Placement
- Prospectus
- Real Estate Investment Trust (REIT)
General information, not legal, tax or financial advice.