special servicer

A special servicer is a company or individual responsible for managing and overseeing distressed loans or mortgage loans that are in trouble, such as those that are delinquent or facing foreclosure. They step in when the original lender needs assistance to maximize the value of the loan or property, often working to negotiate payment plans, modify terms, or facilitate the sale of the property. Their goal is to protect the interests of investors or lenders by efficiently handling these problematic assets and trying to recover as much value as possible.