HISTORY

Crown possesses almost 20 years experience in the servicing segment. The Group’s success began with the restructuring of 450 banks and subs, the liquidation of 40 000 assets to a value of €12 billion. Crown has ca. €15 billion of assets and loans under management.

1990 Creation of Crown
Crown’s story began in 1990 with the formation of Crown Revenue Services Inc.
Co-founder was Ronald E. Roark, who continues to actively drive the Crown Group.

1994 Crown merges with NorthCorp
Crown’s activities were extended in 1994 through the merger with NorthCorp Realty Advisors Inc. to form Crown NorthCorp Inc.

1996 First European office opened in Copenhagen
The Copenhagen office was opened in conjunction with the acquisition of the first larger Swedish portfolio in 1997. The “Stenvalvet” portfolio consisted of 188 commercial properties to a value of some € 600 million. This was the start of an active period of property asset management in the Nordic region. In 1998 another portfolio was acquired from the Swedish telephone company. The portfolio subsequently called Amplion had a value of some €650 million and consisted of more than 370 properties.

1999 Acquisition of a UK servicer
Crown acquired a UK servicing company from Guardian/ AXA insurance company in this year. This served as a basis for its European credit servicing business. This company, which was renamed into Crown Mortgage Management, was the first rated third party servicer for commercial and residential mortgages in Europe.

2003 Establishment of a pan-European master servicer
Under the separate brand “TBE”, Crown formed a joint-venture with Fortis Bank to launch its master servicing activities. This company actively markets its services to the European audience from its base in Brussels.

2004 Establishment of a German servicer
Crown realised its vision of creating a successful servicer in the German market together with Westfalenbank. Crown Westfalen Credit Services received its first rating in 2007.

2006 Acquisiton of German Westfalenbank
Crown has long advocated that a German bank would provide major business advantages in the German market and allow Crown to develop its third service area, mortgage origination. In 2006, Crown acquired Westfalenbank from HVB. Crown Westfalen Bank spearheads Crown’s mortgage origination and servicing operations.

2007 Restructuring of servicing entities
Expansion within the Crown Group led to the restructuring of the servicing entities. In 2007, all servicing companies were placed under the bank. Crown Westfalen Bank is thus parent company of servicing entities in Germany, UK, Belgium and the US.