Servicer Evaluation: Greystone Servicing Co. LLC

S&P Global Ratings' rankings on Greystone Servicing Co. LLC (GSC) are STRONG as a commercial mortgage loan primary and special servicer. On March 23, 2022, we affirmed the rankings (please see "Greystone Servicing Co. LLC STRONG Commercial Mortgage Loan Rankings Affirmed; Ranking Outlooks Stable," published March 23, 2022). The ranking outlook is stable for each ranking. Our rankings reflect GSC's: Highly experienced and well-tenured senior management, and loan servicing and asset management staff; Strong Fannie Mae, Freddie Mac, Federal Housing Administration (FHA), Ginnie Mae, and U.S. Department of Agriculture (USDA) origination platforms, which fuel primary servicing volume; Steady growth and successful track record in servicing agency lender clients and borrowers; Effective staff training; Good leverage of technology systems; Strong audit,

...+ In third-quarter 2021, three long-tenured special servicing employees retired, including a senior managing director with over 20 years of industry experience, a managing director with over 30 years of industry experience, and a director with over 27 years of industry experience. + The general counsel and senior managing director (who has over 25 years of industry experience--the last 19 of which have been with GSC or its predecessors) took over day-to-day management of special servicing operations, with her general counsel responsibilities being assumed internally by the senior attorney with 12 years of company tenure and over 20 years of industry experience. + In January 2021, the vice president over custodial accounting and investor reporting, with seven years of company tenure and 30 years of industry experience, retired. This position was filled internally by the promotion of two existing employees with 18 and four years of company tenure, and 21 and 12 years of industry experience,...

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