Denver-based Allonhill, an independent third-party review firm specializing in mortgage due diligence and credit risk management, is expanding its presence in commercial mortgages. The company is developing a push into commercial due diligence, including a key hire to lead the new offering. “Our unmatched expertise in mortgage due diligence and credit risk management, coupled with some of the best commercial real estate talent around, will provide valuable support for investors and issuers of commercial mortgage-backed securities (CMBS) as this market re-emerges this year,” said Sue Allon, CEO and founder of Allonhill. “Thorough due diligence performed by independent third-party review firms will help restore investor confidence in this severely deteriorated sector.” Allonhill hired CMBS veteran Ross Gammill to direct the firm’s new commercial due diligence offering, the company said Thursday. Gammill brings more than seven years experience in the financial services industry. Most recently he served as underwriter for Bridger Commercial Funding, where he underwrote more than $400m in commercial bonds. The frozen CMBS market showed recent signs thawing in April, with the first new-issue CMBS in nearly two years. Allonhill noted that deal flow in the near term is expected to lag considerably from the market high of $232.4bn in 2007. Write to Diana Golobay.
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