Reviewed by Craig Hoebing, Capital Market Funds, LLC - CBK-2007014 - Commercial Mortgage Banker · Updated October 2026
Closing is not the end of the loan. Someone collects the payment, tracks insurance, and decides whether a new lease or a transfer is allowed. Wikipedia's loan-servicing article, opened October 28, 2026, says servicing is the process by which a mortgage bank, a servicing firm, or a similar company collects interest, principal, and escrow payments from a borrower, and that those collections are then distributed, typically including taxes and insurance from escrow and principal and interest to investors in mortgage-backed securities. The article is written mostly about home mortgages that Fannie Mae, Freddie Mac, or Ginnie Mae stand behind. The collection job is the part that also describes commercial servicing. The basis-point fee range in the article is omitted. This note is general information. It is not tax advice, legal advice, or an appraisal. A CPA, an attorney, or the other professional named in the note decides how the rule applies to a given property.
On a bank loan the lender and the servicer are often the same institution, or a department of it. On a life-company loan the insurer or its servicing agent sends the bills. On a conduit or CMBS loan the trust hires a servicer, and market practice splits routine administration from the work that starts when a loan is in default. Borrowers hear the names master servicer and special servicer for those two jobs. That split was not a sentence in the Wikipedia article opened for this note, so it is not attributed to Wikipedia. It is how conduit servicing is commonly organized, and the only reliable version is the servicing agreement in your closing book. The Arizona conduit overview is Arizona CMBS. Tests you must keep meeting, which are not the same as the phone number of the servicer, are commercial loan covenants.
The ordinary requests after the first year
Expect an annual ask for financial statements, a rent roll, and evidence of insurance. The date is in the loan agreement, not on a calendar this page can standardize. A new lease, a change of management, or a transfer of the borrowing entity usually needs a written consent. Send the request early. A servicer that must ask a special servicer, a rating process, or a lender committee will not treat it as a same-day favor. An assumption of the existing loan, when the documents allow a buyer to take it, is assumable commercial mortgages. If the loan is nearing maturity, the choice between an extension and a new loan is extension versus refinance.
Keep the servicer's address, the loan number, and the insurance requirements in one place. A lapsed certificate can spring an escrow or a default even when the payment is current. Insurance questions are on the insurance note linked from other pages. This note only says the certificate has to reach the servicer, not your loan officer from two years ago if that person is gone.
What we do not do after closing
Capital Market Funds is not the servicer unless a document you signed says otherwise, and the ordinary case is that the lender or its agent services. We can help you find the right notice address. We cannot approve a lease, waive a covenant, or extend a maturity. Capital Market Funds is not a Fannie Mae DUS lender. Agency servicing follows that lender's guide.
The office is 7373 E Doubletree Ranch Rd #255, Scottsdale, AZ 85258. The phone is (480) 495-8072. Capital Market Funds, LLC - CBK-2007014 - Commercial Mortgage Banker and NMLS 1445066.
Sources
Questions
- Is the company that closed my commercial loan always the company that services it?
- Often on a bank loan, and often not on a conduit loan. Read the welcome letter. Wikipedia's definition is that a servicer collects the payment. It does not promise that the office you closed with keeps the file.
- Who approves a new commercial lease after a CMBS closing?
- The servicing agreement names that party. Borrowers often deal with a master servicer, and a troubled loan moves to a special servicer. Confirm the path in your documents instead of guessing from this page.
- Does this servicing note restate the covenant tests?
- No. Covenants have their own note. This page is about who collects, who you notify, and what a consent request looks like after closing.
- Can you extend the loan by calling the original broker?
- No. An extension is the servicer's or the lender's decision, under the documents. See the extension-versus-refinance note. A call to this office does not modify the note.