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Loan Servicing

Loan Servicing

Largo has serviced commercial loans for over 15 years and currently houses a $2 billion servicing portfolio. Our servicing portfolio consists of over 360 loans that encompass over 400 properties, which consist primarily of retail, office, multifamily 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.

FICS – Loan Servicing Software

Largo uses FICS, Financial Industry Computer Systems, Inc., which specializes in providing flexible, comprehensive commercial technology solutions to the mortgage industry. With FICS, Largo is able to streamline its servicing and better organize its processes, which has allowed the servicing team to provide even better service and follow-up for its borrowers and lenders.


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

  • Symetra’s “Excellence in Loan Closing” award in 2015; Recipient Michelle Colosimo, Senior Loan Administrator
  • A member of Symetra’s “Elite Insurance Group” of mortgage bankers
  • Rated #1 Servicer for PPM from 2005 through 2015
  • ING’s only Servicer to receive 100% compliance for its 2007 Desk Audit


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

  • Collection and processing of monthly debt service payments
  • Maintaining real estate tax, insurance and tenant improvement escrow and reserve accounts
  • Cash management services
  • Monitoring real estate taxes
  • Monitoring insurance coverage according to lender specifications
  • Monitoring and renewing UCC’s
  • Monitoring, reviewing and approving 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.


For all non-escrowed loans, tax receipts (evidence of paid tax bills) must be provided to Largo prior to their due date.  Taxes are due in each district at various times throughout the year.  Largo will send out reminders approximately 30 days ahead of the due date to remind borrowers that they are due and that they 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.


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.  Largo’s servicing portfolio is administered out of our Getzville, New York Office located at:

Largo Real Estate Advisors, Inc.
2420 North Forest Road, Getzville, New York 14068

Loan Servicing Department:

Michelle Colosimo, Senior Loan Administrator
Phone: 716-204-2227; Fax: 716-204-2201; Email:

Central Payment Collection Address

For those who would like to utilize our central payment collection services, please mail checks to the following address:

For Standard Mail Delivery & Overnight (Unless otherwise noted):

Largo Real Estate Advisors, Inc.
2420 North Forest Road, Getzville, New York 14068
Attn:  Loan Servicing Department

Automatic Payment Withdrawal

Largo Real Estate Advisors, Inc. currently offers customers the ability to have monthly mortgage payments automatically deducted from a specific account.  This free service ensures timely payments and helps reduce costs, avoid late charges and reduces processing time.  Please consider enrolling in this free service by contacting Largo’s Loan Servicing Department.