Neccim Distressed Bank Assets
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This is a revised version of the presentation that David Phalen and I gave at the NECCIM Distressed COmmercial Real Estate breakfast on 10-15

This is a revised version of the presentation that David Phalen and I gave at the NECCIM Distressed COmmercial Real Estate breakfast on 10-15

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Neccim Distressed Bank Assets Presentation Transcript

  • 1. Distressed Assets
    Commercial ForeclosuresPipeline Data | Process | Options
  • 2. Summary
    About
    David Phalen
    Brecht Palombo
    Distressed Property Funnel
    US Foreclosure Pipeline
    Working with Lenders
    Summary
  • 3. 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.
  • 4. 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
    • 5. ABI Quarterly Asset Sales
    • 6. ABI Quarterly Real Estate
    • 7. bostonrealestateobserver.com
    Recent Transactions
    • $19.1MM Broadluxe Auctions
    • 8. $3.4MM Charles Ridge Foreclosure
    • 9. $4.25MM Columbia St Cambridge 363 Sale
  • Distressed Property Funnel
    OREO
    • Bank Owned
    • 10. Management
    • 11. Disposition
    • 12. Repositioning
    • 13. Completion
    • 14. Buy the property
    Nonaccrual
    • Foreclosure likely
    • 15. Bankruptcy
    • 16. Loss Mitigation
    • 17. Receivership
    • 18. Buy the Note
    90 Days Late
    • Pre-foreclosure
    • 19. Payment Unlikely
    • 20. Notice Sent?
    • 21. Forbearance
    • 22. Extensions
    • 23. Buy the Note
    • 24. Consensual Sale
  • US Foreclosure Pipeline
  • 25. Construction
    $85.5 Billion
    • 17% Increase Over All
    • 26. REO up 22%
    • 27. Nonaccrual up 16.9%
    • 28. 90 Days Late up 12.4%
  • Commercial Real Estate
    $36.1 Billion
    • 30% Increase Over All
    • 29. REO up 32.8%
    • 30. Nonaccrual up 31%
    • 31. 90 Days Late up 15%
  • Multifamily
    $8.3 Billion
    • 25% Increase Over All
    • 32. REO up 6.9%
    • 33. Nonaccrual up 27.9%
    • 34. 90 Days Late up 50%
  • Residential
    $ 159.7 Billion
    • 9% Increase Over All
    • 35. REO up 1.1%
    • 36. Nonaccrual up 6.8%
    • 37. 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
  • 38. 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
  • 39. Lender Stats
    Capital Adequacy
    Total Nonaccrual
    Total REO
    Notes Listed as “For Sale”
    Nonaccrual and REO
    • Construction
    • 40. Commercial
    • 41. Multifamily
    • 42. Residential
    Non-Current Percentages
    Net Charge-Offs
  • 43. 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
  • 44. Why Local and Regional Lenders
    VS
    Joe Banker
  • 45. Making Contact
    Who to Contact
    • President
    • 46. Risk or Credit Officers
    • 47. Special Assets
    • 48. Workout
    • 49. Attorneys
  • Making Contact
    Approach
    • Pick Up the Phone
    • 50. Social networks
    • 51. Physical Networking
  • 18
    BankProspector
    BETA
    NECCIM Coupon Code
    40% Off
    A85D143AF3