CREFC Servicers Forum
February 14, 2022
Meet our leadership team:
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Together, Rich, Carl and Stacy form the “Leadership Working Group” for the Servicers Forum and set agendas and priorities for the forum, as well as represent the constituency on CREFC’s Policy Committee.
Current issues include:
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- ESG and what it means for servicers. CREFC is well along in establishing a set of disclosures focused on the environmental side of the equation. This includes 51 data points relative to climate perils, energy consumption/production/efficiency, and greenhouse gas emissions.
- LIBOR to SOFR transition. Implementation weighs heavily on the servicing community as we have been exploring how to implement the changes into day-to-day servicing operations for legacy loans and new issuance. This means deciphering myriad transition language variants within loan documents and discussing how to implement those changes with borrowers and what management of that entails, as well as encouraging consistency in new loan documentation and addressing licensing for the use of CME Term SOFR.
Topics at the January conference also included workout hot topics—a broad category that included loan document go-dark provisions (how and when to trigger them), how eviction and foreclosure moratoriums acted as a government sanctioned delay of game, specially serviced office and hospitality, plus intercreditor agreement challenges with mezzanine holders. Forum leaders, including Rich and Stacy who are part of the planning committee, are looking forward to exploring some of these topics further at the upcoming HYDRA & Servicing Conference March 31. Please click here to learn more.
To join the Servicers Forum, please register here. For any forum related questions, please contact Kathleen Olin
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