• Achievements
  
• Duties
  
• Reminders for Borrowers
  
• Contact Information

Largo has serviced commercial loans for over 15 years and currently houses a $1 billion servicing portfolio. Our servicing portfolio consists of over 300 loans that encompass over 370 properties, which consist primarily of retail, office, multi-family and industrial properties located across the United States.

As a loan servicer, Largo acts as a liaison between its lenders and borrowers. We play a critical role on behalf of both our borrowers and lenders to ensure that each transaction is handled smoothly. Since Largo is involved in each loan throughout the underwriting and closing process, we are in an ideal position to provide service throughout the life of the loan. Largo’s team of professionals strives to provide exceptional service to both our borrowers and lenders.

Achievements

Due to Largo’s responsive team of professionals with strong analytical knowledge, Largo has received the following recognitions:

• Rated #1 Servicer for PPM in 2005
• Rated #1 Servicer for PPM in 2007
• ING's only Servicer to receive 100% compliance for its 2007 Desk Audit

Duties

Largo’s Servicing Department is responsible for a variety of duties tailored to each lender’s requirements.  Some of those duties include:

• Processing Monthly Mortgage Payments
• Maintaining Escrow Accounts
• Monitoring Real Estate Taxes
• Monitoring Insurance Coverage according to Lender specifications
• Monitoring and Renewing UCC's
• Monitoring and Reviewing Leases
• Performing Annual Site Inspections
• Analyzing Operating Statements and Financial Statements
• Processing Various Borrower Requests

Reminders for Borrowers

Site Inspections
Largo’s in-house inspectors will be contacting each of our borrowers on an annual basis to set up an appointment to inspect the property.  At that time, Largo will need access to the roof and will need to be supplied with a current rent roll.
 
Year End Financials
In January of each year, Largo will send out a reminder to all of our borrowers to send in financial information as required by their loan documents.  Second requests will go out in the beginning of March each year and third requests will go out mid-April.  Once the financial information is received and reviewed, a member of our staff may contact each borrower with any questions or for clarification on variances from previous years.
 
Taxes
If your taxes are not escrowed by Largo, you will need to provide evidence of paid tax bills to Largo.  Taxes are due in each district throughout the year.  Largo will send out reminders approximately 30 days ahead of the due date to remind you that they are due and that you will need to provide us with documentation.  A member of our staff will follow-up with the borrower and/or tax authority until we have a receipt on file.
  
Insurance
Largo monitors insurance coverage throughout the life of the loan, according to each lender’s specific requirements.  Not only do we make sure that coverage is in place, we will also make sure that the coverage is sufficient according to the terms of each mortgage.  Largo will normally contact insurance agents directly, but will contact a borrower if any issues arise.
 
Contact Information

Our servicing staff is always available to assist with any requests or answer any questions you may have.