Operating Statements, Rent Rolls and OSARs (OSAR) Best Practices

(Chaired by Grace Holst of Strategic Asset Services)

CREFC OSAR Best Practices

CREFC OSAR Contact Sheet  

Operating and Occupancy Information Receipt Report  

Operating and Occupancy Information Submission Report  

The OSARs working group was created to establish best practices for the delivery and information flow of Operating Statements, Rent Rolls and OSARs. The full working group formed two sub groups, one for Master Servicers and one for Special Servicers. The working groups drafted a best practices document that contains the following information:

  • Documentation, analysis, and information for source documents and other work products
  • Compliance/QC measures for reporting between Master Servicers and Special Servicers
  • Contact list of the key individuals and global email addresses
  • Processes for Master Servicers, Special Servicers, and Certificate Administrators

The OSARs working group additionally prepared two related reports to accompany the best practices.  These reports are recommended templates to help Servicers internally track the receipt and submission of operating and occupancy information.