CMBS servicers continue to maintain or improve their operating statement
collection and reporting, increasing questions surrounding the health of commercial real estate have made accurate analysis of these statements the most critical step in the process, according to Fitch Ratings in a new report.
11 and other operating statement
issues, over 200 responses were received.
11, Measurement Focus and Basis of Accounting-Governmental Fund Operating Statements
, emphasizes operating statements
of government-type (expendable) funds.
Obtaining and analyzing operating statements
to detect potential cash flow or operating concern.
The master servicer, NCB, FSB, collected operating statements
for year-end (YE) 2004 on 91% of the loans remaining in the pool.
NCB, FSB, the master servicer, received year-end (YE) 2004 operating statements
on approximately 68% of the outstanding balance.
ORIX Real Estate Capital Markets, LLC, the master servicer, collected year-end (YE) 2004 operating statements
for 100% of the loans in the pool.
NET technology, the Quorum Upstream Software Suite includes Land & Lease Management, Division Order, Volume Management (FDC, Production Allocation), Production & Revenue Accounting, Gas Marketing, Cost Accounting (JIB, AFE, FA), Core Financials (GL, AP, AR), and Lease Operating Statements
Fitch adjusted annualized NCF, based on November 2004 leases-in-place and annualized November 2004 year-to-date operating statements
, declined 27.