Assuming a CMBS loan is a complex transaction involving strict requirements, specific documentation and three to four levels of approval. With multiple participants involved in the process, deadlines to be met, and hard money often on the line, having an advisor to guide the parties through each phase of the assumption process can ensure a successful closing.

  • The Hart assumption team has negotiated more than 200 loan assumptions representing in excess of $3.5 billion in outstanding loan balances. Our dedicated team averages 30 years of servicing industry experience and works with master and special servicers every day.
  • Hart has a 100% success rate in closing loan assumptions for our clients.
  • Our team will navigate the rating agency approval process for you, if required.
  • We charge a flat fee for our loan assumption services, which is typically split between the Buyer and Seller.

Our assumption process is illustrated below:

Phase One | Day 1


  • Client (Buyer, Seller or both) engages Hart.
  • Client authorizes Master Servicer (and all other approving parties) to communicate directly with Hart regarding the assumption.
  • Hart initiates assumption process with Master Servicer.

Phase Two | Days 2-11

Document Gathering & Transaction Summary

  • Hart aggregates all required documents from the Buyer and Seller and prepares an Executive Summary highlighting the participants, property and transaction.
  • Hart submits a complete assumption package to the Master Servicer in the servicer's preferred format.

Phase Three | Days 11-35

Master Servicer Due Diligence & Underwriting

  • Hart reviews the assumption package with the Master Servicer.
  • Master Servicer underwrites the transaction and makes a recommendation to the Special Servicer.
  • Hart remains in constant contact with the Master Servicer to insure timelines are achieved for the client.

Phase Four | Days 36-50

Approval Process

  • Hart negotiates on behalf of the Buyer/Seller, any conditional terms or additional requirements that may be imposed by the approving parties.
  • Hart obtains the necessary approvals from the Master Servicer, Special Servicer, Controlling Class and Ratings Agencies*, as required. *Rating Agencies typically add 30 days to the process.

Phase Five | Days 51-60

Legal Closing

  • Hart obtains closing checklist from the Master Servicer's counsel.
  • Hart identifies closing deliverables and facilitates the closing between Buyer and Master Servicer.


Read our assumption case studies:


Obtained final approval from all required parties within 51 business days.
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The controlling class was received in 73 business days from the date of submission.
Read More Here.


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