Neccim Distressed Bank Assets

Distressed Assets
Commercial ForeclosuresPipeline Data | Process | Options

Summary
About
David Phalen
Brecht Palombo
Distressed Property Funnel
US Foreclosure Pipeline
Working with Lenders
Summary

David C Phalen
David C. Phalenis a partner in the law firm of Bartlett Hackett Feinberg P.C in Boston. After serving as an Assistant District Attorney upon his admission to the bar in 1983, he has practiced primarily in the area of bankruptcy/creditor’s rights, commercial litigation and corporate/banking transactions. He has been involved in numerous commercial real estate workouts and foreclosures.
Mr. Phalen received his B.A. in political science from Williams College and his J.D. cum laude from Boston College Law School, where he was an editor of the Uniform Commercial Code Reporter-Digest.
Mr. Phalen represents a variety of clients in his practice, ranging from large national banks to closely-held family businesses and individuals. He is member of the Boston Bar Association, the Massachusetts Bar Association and the American Bankruptcy Institute.
3
Bartlett Hackett Feinberg P.C.

Brecht Palombo
Brecht has been working in real estate since 2001 and at the front end of distressed real estate since late 2005. He is a Principal at Mansard Commercial Properties. He represents Tranzon Auction Properties throughout Southern New England and he is recently the founder of distressedpro.com where members can research the distressed real estate, distressed mortgage loan balances, and notes held for sale for more than 8,000 banks nation wide.
Auctioneer
Broker MA, CT, NH
brecht@brechtpalombo.com
781-507-9507
Publications
CREFrontline Monthly
ABI Quarterly Asset Sales
ABI Quarterly Real Estate
bostonrealestateobserver.com
Recent Transactions
$19.1MM Broadluxe Auctions
$3.4MM Charles Ridge Foreclosure
$4.25MM Columbia St Cambridge 363 Sale

Distressed Property Funnel
OREO
Bank Owned
Management
Disposition
Repositioning
Completion
Buy the property
Nonaccrual
Foreclosure likely
Bankruptcy
Loss Mitigation
Receivership
Buy the Note
90 Days Late
Pre-foreclosure
Payment Unlikely
Notice Sent?
Forbearance
Extensions
Buy the Note
Consensual Sale

US Foreclosure Pipeline

Construction
$85.5 Billion
17% Increase Over All
REO up 22%
Nonaccrual up 16.9%
90 Days Late up 12.4%

Commercial Real Estate
$36.1 Billion
REO up 32.8%
Nonaccrual up 31%
90 Days Late up 15%

Multifamily
$8.3 Billion
REO up 6.9%
Nonaccrual up 27.9%
90 Days Late up 50%

Residential
$ 159.7 Billion
REO up 1.1%
Nonaccrual up 6.8%
90 Days Late up 13.6%

Finding Lenders
Lenders are generally quiet about their problems.
They don’t want to be perceived as bad guys
Don’t want to be appear weak or undercapitalized
Want to avoid having their dispositions characterized as distressed or fire sales

Finding Lenders
FFIEC
Federal Financial Institutions Examination Council
FDIC
Federal Deposit Insurance Corporation
FRB
Board of Governors of the Federal Reserve System
NCUA
National Credit Union Administration
OCC
Office of the Comptroller of the Currency
OTS
Office of Thrift Supervision

Lender Stats
Capital Adequacy
Total Nonaccrual
Total REO
Notes Listed as “For Sale”
Nonaccrual and REO
Construction
Commercial
Multifamily
Residential
Non-Current Percentages
Net Charge-Offs

14
New England Banks
317 Bank Headquarters
Residential = $2,734,401,000
Multifamily = $146,962,000
Construction = $848,621,000
Commercial = $1,195,547,000
Total = $4,925,531,000

Why Local and Regional Lenders
VS
Joe Banker

Making Contact
Who to Contact
President
Risk or Credit Officers
Special Assets
Workout
Attorneys

Making Contact
Approach
Pick Up the Phone
Social networks
Physical Networking

18
BankProspector
BETA
NECCIM Coupon Code
40% Off
A85D143AF3

Neccim Distressed Bank Assets

by distressedpro.com on Oct 19, 2009

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