The servicer ratings reflect the bank's experienced and tenured servicing staff and management team, and its continued strong use of technology. Additionally, the primary servicer rating reflects NCB, FSB's solid experience as a longstanding CMBS primary servicer. The master servicer rating indicates NCB, FSB's proven ability to report and remit to CMBS trustees and to oversee third-party servicers. The special servicer rating indicates NCB's ability to specially service commercial real estate loans in CMBS transactions. The bank also continues to maintain particular expertise in the servicing and special servicing of cooperative housing loans.
As of March 31, 2008, NCB, FSB's primary servicing portfolio consisted of 3,945 loans, totaling $5.3 billion. As of the same date, NCB, FSB was named master servicer on 37 securitized transactions, totaling $4.6 billion. In addition, as of March 31, 2008, the bank was named special servicer for 40 transactions totaling $4.7 billion.
Fitch rates commercial mortgage primary, master, and special servicers on a scale of 1 to 5, with 1 being the highest rating. Within each of these rating levels, Fitch further differentiates ratings by plus (+) and minus (-) as well as the flat rating. For a description of Fitch's rating criteria, see Fitch Research 'Rating US Commercial Mortgage Servicers,' dated Sept 14, 2007, available on Fitch's web site at www.fitchratings.com.
As a full-service financial institution, NCB provides term loans, lines of credit, commercial and residential mortgages, and personal and business banking products. In addition, the Bank offers an array of other business banking products via its secure, online cash management platform, including Real Time Deposit, NCB’s remote deposit capture product allowing businesses to efficiently deposit checks via remote scanning services operated at the business’ location. The Bank is also a member of CDARS network, providing customers with a single source for FDIC insurance on CDs up to $50 million.
NCB Financial Group (NCB) consists of National Consumer Cooperative Bank, a wholesale funding company; NCB, FSB, a federally-charted savings bank; and, NCB Capital Impact, a 501(c)3 nonprofit. Loans and other financial services are provided by NCB, FSB and NCB Capital Impact. Deposit products and services are provided by NCB, FSB, which is a member FDIC. Each is a separate corporation within the NCB Financial Group.
NCB is dedicated to strengthening communities nationwide through the delivery of banking and financial services, complemented by a special focus on cooperative expansion and economic development. Headquartered in Washington, DC, NCB also has offices in Alaska, California, New York and Virginia. In addition, NCB has a growing community banking network in southwestern Ohio. To learn more about NCB, visit www.ncb.coop.