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Flat Fees

IMS charges only once for a director or member

Unlike the competition, IMS charges only once for the furnishing of an independent director or special member.   IMS charges a one-time fee of $2,000, together with a $100 set-up charge, for the services of an independent director. Most other providers of special staffing charge at least $2,200 for every year that an independent director or special member serves on the board.   With IMS, there are no annual charges or maintenance fees.  In the case of a typical five-year loan, you may have paid as much as $11,000 for an independent director.  IMS’ fee for the same service is only $2,100.  There is no longer any reason to expose your clients or yourself to unnecessary additional costs.


 

Certified Candidates

IMS candidates are WELL QUALIFIED

Many of the candidates for independent director or special member from IMS are Licensed New York State Notaries and non-practicing attorneys, which is especially desirable.  Each candidate possesses the education and professional experience to properly understand and execute the duties and obligations of an independent director or special member.  At the same time, there is virtually no chance that conflicts of interest will arise with respect to your clients or the subject transactions.


 

Local Candidates

IMS candidates are local

The candidates provided by IMS are located in the tri-state region.  This means that if a closing is scheduled at the last minute, the independent director from IMS can appear to facilitate a smooth and timely closing.  Or, if some document has been mistakenly overlooked, the independent director from IMS can be in an office in Manhattan within an hour to sign the final document.  This type of service is not possible if your staffing service has given you an independent director located in Delaware or Texas.

 

Independent Member Services LLC (“IMS”) was established in 2004 for the sole purpose of providing independent members and directors to borrowing entities in order to satisfy the bankruptcy remoteness requirements of their lenders.

 At the time of its formation, IMS pioneered an innovation in the special staffing business, namely the offering of a flat fee for independent directors.  While other special staffing companies charged clients on an annual basis, making independent directors into a significant economic burden on a borrower, IMS offered borrowers the ability to manage the cost and simplify the process, by not having to track invoices for every year of the loan term.

In addition, IMS has also offered borrowers a special quality of independent directors and members, by offering non-practicing attorneys to fill the seats for independent directors and members.  By offering Licensed New York State Notaries and non-practicing attorneys, IMS provides independents who have the knowledge and expertise obtained from a legal education, while their non-practicing status insures that there will be no conflict with the interests of the borrower.

Since its inception, IMS has rapidly grown into a nationally recognized provider, serving both national law firms and local law firms engaged in real estate finance.  At the national level, IMS has served many of the offices of firms such as DLA Piper Rudnick Gray Cary, Goodwin Procter, McDermott Will & Emery, Gibson Dunn & Crutcher, Nixon Peabody and Morgan Lewis & Bockius.  Many strong regional firms are also clients of IMS, including well-known New York firms such as Pryor Cashman & Flynn, and Kaye Scholer and firms outside of New York, such as McCarter & English in Newark, Sutherland Asbill & Brennan in Atlanta, Ice Miller in Indianapolis, Pircher Nichols & Meeks, Munger Tolles & Olsen and Stein & Lubin all in Los Angeles and The Silicon Valley Law Group in Northern California.  The company’s reach has even extended as far as Hawaii and Guam, where it has served Hawaii’s largest firms such as Rush Moore and Goodsill Andersen in Honolulu.

IMS is truly a national special staffing company, working with the nation’s largest firms, competing with CT Corporation, NRAI and other national companies for staffing assignments, and, most importantly, IMS has worked with and been accepted by the nation’s largest lenders, like Wells Fargo/Wachovia, Deutsche Bank, and KeyBank, and by rating agencies on over $3,000,000,000 worth of loans.

 
 

Contact Us

Independent Member Services

295 Madison Avenue

12th Floor

New York, New York 10017

Email:  leslie@imemberservices.com

Phone: 646.522.8118