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Bank & Financial Institutions Special Asset Executive Conference on Real Estate Workouts (Atlanta)  - June 28-29, 2012 - Atlanta, GA
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880 AM Radio Discussion on IMN's Florida Bank CRE Workout Forum

The December 2011 Bankers Texas Post-Con Newsletter

Pictures from IMN's January 2012 Florida Bank & Financial Institutions Special Asset Executive Conference on Real Estate Workouts

The January 2012 Bankers Florida Post-Con Newsletter

Agenda Last Updated On: Monday, May 21, 2012
Day One: Thursday, June 28, 2012

7:30 Registration for Bank Real Estate Workout Professionals… Breakfast is served for closed door workshop attendees. Courtesy of:

7:50-8:45 Closed Door Workshop I for Bankers

This meeting has been a highlight of the forum and will be hosted and attended by special asset/special servicers and real estate restructuring representatives from banks only to candidly discuss the key issues of the day in an open, Q&A format where all are encouraged to participate.

Discussion Leader:
Thomas Deane, Head of Structured Transactions & Special Assets - Real Estate Asset Management, WELLS FARGO BANK [ BIO ]

Thomas Deane
Head of Structured Transactions & Special Assets - Real Estate Asset Management
WELLS FARGO BANK
Deane

8:30 Registration for all attendees… Breakfast is served

9:00 Formulating a Restructuring Plan for 2013 Maturities: Extend & Pretend vs. Sale vs. Put More $$ in

• Why aren’t you marketing this property? • 2nd trips, loans extended in 2008-10: What was the cause of the difficulties? How are you working out? • Discounted pay-offs, deeds-in-lieu & structured sales • Retail workouts • Construction loans • Working out a business with real estate • Evaluating the borrower’s role post-restructuring • Broker vs. in-house: which way to go? • The re-classification decision • Factoring in the cost of litigation • Carrying costs • Are you interested in maintaining an interest? • Cash flowing vs. non-cash flowing strategies

Session Chair:
Marco Lainez, Managing Director, Northeast/Mid Atlantic, GUARDIAN INVESTMENT REAL ESTATE [ BIO ]

Panel Participants:
Geoffrey C. Wood, Senior Vice President, CWCAPITAL ASSET MANAGEMENT LLC
Phil Mays, Portfolio Director, EVERBANK COMMERCIAL ADVISORS [ BIO ]
David Graham, Vice President, MIDLAND LOAN SERVICES
Thomas Deane, Head of Structured Transactions & Special Assets - Real Estate Asset Management, WELLS FARGO BANK [ BIO ]

Marco Lainez
Managing Director, Northeast/Mid Atlantic
GUARDIAN INVESTMENT REAL ESTATE
Lainez
Phil Mays
Portfolio Director
EVERBANK COMMERCIAL ADVISORS
Mays
Thomas Deane
Head of Structured Transactions & Special Assets - Real Estate Asset Management
WELLS FARGO BANK
Deane

9:45 Single Asset vs. Portfolio Sale: Which way to go?

• When is the sum of the parts worth more than the whole? Visa versa? • Accelerated process vs. value • Portfolio composition • Marketing & bidding • Exit methodologies • Large vs. Small deals • Portfolio valuation: Is the larger the portfolio the larger the haircut?

Session Chair:
Richard Levine, Managing Partner, GUARDIAN INVESMENT REAL ESTATE [ BIO ]

Panel Participants:
Graham Martin, Partner, KPMG [ BIO ]
Andrew Kroll, Senior Vice President-Wholesale OREO Asset Management, SUNTRUST BANKS
Thomas Evans, Vice President, SYNOVUS FINANCIAL CORP. [ BIO ]

Richard Levine
Managing Partner
GUARDIAN INVESMENT REAL ESTATE
Levine
Graham Martin
Partner
KPMG
Martin
Thomas Evans
Vice President
SYNOVUS FINANCIAL CORP.
Evans

10:30 Refreshments

11:00 This Land was your Land. This is now my Land. What is a Bank Workout Executive to do?

• Comparing land for current vs. future development • Entitled vs. Raw land • How do you treat land for residential vs. commercial properties? • Creative solutions • Evaluating land in a context of growth and other key economic drivers • Are bank’s taking steps to enhance the value of owned land through entitlement, re-entitlement, etc.? • Since the cost of carry on land is relatively low, why sell now vs. hold? • Unforeseen costs and issues that cause re-trades and delays? • Key considerations when crafting a workout plan? • What strategies have worked for your institution in land workouts with homebuilders? • What kind of environmental due diligence is necessary with land transactions?

Panel Participants:
Michael Bull, Managing Broker, BULL REALTY, INC
Andrew Kroll, Senior Vice President-Wholesale OREO Asset Management, SUNTRUST BANKS
Sean Randall, REO & Asset Valuation, GREAT FLORIDA BANK [ BIO ]
Gerald Pouncey, Partner-Head of Environmental Practice, MORRIS, MANNING & MARTIN, LLP
Keith Alexander, Director, MOUNTAIN REAL ESTATE GROUP [ BIO ]

Sean Randall
REO & Asset Valuation
GREAT FLORIDA BANK
Randall
Keith Alexander
Director
MOUNTAIN REAL ESTATE GROUP
Alexander

11:45 Going, Going, Gone…Property Auctions

• Bankers: What % of your resolutions are via auction? • What factors lead to auction success? Structures and asset classes that perform best? • Documents needed • Financing the note; Cash vs. Financing • Evaluating the buyer • Assessing the nature of the assets vs. the speed and price of disposition • How many closes don’t actually close? • Appraisals and asset valuation • Bid procedures • In-House auctions • Due diligence process • Note vs. REO auctions • When do you consider an auction? After a traditional disposition effort has not succeeded or when initially determining a disposition method? • Differences between service providers • Bidding options and performance

Session Chair:
Scott King, Executive Vice President, J.P. KING AUCTION COMPANY, INC. [ BIO ]

Panel Participants:
Bliss Morris, CEO, FIRST FINANCIAL NETWORK [ BIO ]
John Dixon, Founder/Chief Executive Officer, JOHN DIXION & ASSOCIATES, INC
Richard Pulido, Principal, PRUDENTIAL MORTGAGE CAPITAL COMPANY [ BIO ]
Bruce Dearing, SVP - Residential Special Assets Manager, SYNOVOUS BANK OF NORTH GEORGIA

Scott King
Executive Vice President
J.P. KING AUCTION COMPANY, INC.
King
Bliss Morris
CEO
FIRST FINANCIAL NETWORK
Morris
Richard Pulido
Principal
PRUDENTIAL MORTGAGE CAPITAL COMPANY
Pulido

12:30 Luncheon

1:30 Hotel Workouts: You can Check Out any Time you Like but can you Ever Leave?

• Hold or sell? The bank perspective • Role of receiver • Impact of current economy on different hotel markets • How are you handling flag issues? • Mixed use & Condo hotels • Working out full vs. limited service properties • The value-added proposition • Keeping the brands happy • Protective advances • Who’s lending and what are the sweet spots? • Are pips being reduced? • Cash-flow mortgages as a restructuring approach

Panel Participants:
Deborah L. Cannon, President, CUSA, LLC [ BIO ]
Nitin Shah, Chairman and CEO, EMBASSY NATIONAL BANK IN ATLANTA
H. Keith Thompson, Principal, HOTEL ASSETS GROUP, LLC [ BIO ]
Steve Vann, President, PRISM HOTELS
Bob Massey, Senior Vice President-Hospitality Asset Management, TRIMONT REAL ESTATE ADVISORS, INC. [ BIO ]

Deborah Cannon
President
CUSA, LLC
Cannon
H. Keith Thompson
Principal
HOTEL ASSETS GROUP, LLC
Thompson
Bob Massey
Senior Vice President-Hospitality Asset Management
TRIMONT REAL ESTATE ADVISORS, INC.
Massey

2:30 Taking a Walk on the Residential Side: Busted Condos, Multifamily Workouts & Single Family Loan Workouts

• Condo to multifamily rental conversion • Mixed-Use complexities • Disposal strategy including the auction option • High rise vs. low rise • Choices for unfinished projects • Working with associations • Bulk vs. Individual unit sales • Tenant evaluation • When can you raise the rent? • Buyer perspective • Disposal strategies • Factoring in local market dynamics • Note vs. OREO decision • Asset management • Cash for Keys Strategies: What is the incentive? • Supervisory guidelines of managing of mortgage foreclosures • Fannie, Freddie and Federal Home Loan Banks • Robo-signing: What is your potential exposure? • Modifications: When do they workout? • Underwater performing mortgages and DC

Panel Participants:
Christopher Cimino, Managing Director, COHEN FINANCIAL [ BIO ]
Scott King, Executive Vice President, J.P. KING AUCTION COMPANY, INC. [ BIO ]
Russell Long, Director, O'KEEFE & ASSOCIATES [ BIO ]
Richard Pulido, Principal, PRUDENTIAL MORTGAGE CAPITAL COMPANY [ BIO ]

Christopher Cimino
Managing Director
COHEN FINANCIAL
Cimino
Scott King
Executive Vice President
J.P. KING AUCTION COMPANY, INC.
King
Russell Long
Director
O'KEEFE & ASSOCIATES
Long
Richard Pulido
Principal
PRUDENTIAL MORTGAGE CAPITAL COMPANY
Pulido

3:15 Loan/REO Buyer Panel

• FDIC Sales: Have you participated? Did you look at the FDIC securitized deal? • What level of involvement or contact should a note buyer have with the borrower during the due diligence process? • Have you kissed alot of frogs before you found your prince? • Cash component of deal and financing • Buying out of foreclosure • Was price the only reason you won the deal? • Contract terms: What will you go for? What will you not? • Pricing risk into the equation • Impact of SB 448

Session Chair:
Timothy Buss, Senior Vice President, Special Asset Solutions, NAI GLOBAL [ BIO ]

Panel Participants:
Gregory Williams, Principal, CARDINAL POINT MANAGEMENT, LLC
Ben Brunt, Principal & Executive Vice President, NOBLE INVESTMENT GROUP [ BIO ]
Brian McCarthy, Vice President, OFF MARKET RADAR
Alex Walker, Partner, PROSPECT PROPERTY GROUP [ BIO ]

Timothy Buss
Senior Vice President, Special Asset Solutions
NAI GLOBAL
Buss
Ben Brunt
Principal & Executive Vice President
NOBLE INVESTMENT GROUP
Brunt

4:00 Refreshments

4:30 Coming Back from a CAMELS 3,4 or 5 Rating, Successfully Operating Under FDIC Regulatory Consent/OCC MRA (Matters Requiring Attention) Orders or Loss Share Agreement

• Defining & Managing different regulatory actions • Resolution planning • Interim exams: Planning vs. Actual scrutiny • Going through and implementing the regulators handbook • Note/REO sale restrictions • CRE loan assessment when buying a bank • Surveillance, oversight, compliance monitoring and audit • Role and rationale of FDIC as a receiver • Loss share arrangements & terms • Sharedloss payment structures • Recoveries • Reimbursable expenses & Permitted advances • True-Up calculations • Agreement administration and enforcement • Management standards • Risk sharing asset management • Bidding strategy • Early termination/FDIC buyout

Panel Participants:
Kristina L. Anderson, Managing Director-Asset Resolution Group, ALOSTAR BANK OF COMMERCE
Jorge Carvallo, Credit Officer, BANESCO USA [ BIO ]
Susan Khayat, Senior Risk Officer, BANK OF ATLANTA
Dev Strischek, SVP & Senior Credit Policy Officer-Corporate Risk Management, SUNTRUST BANK [ BIO ]

Jorge Carvallo
Credit Officer
BANESCO USA
Carvallo
Dev Strischek
SVP & Senior Credit Policy Officer-Corporate Risk Management
SUNTRUST BANK
Strischek

5:15 Emerging Issues for Valuation/Appraisals/Loss Recognition/Writedowns

• Appraisal regulations • Comparing the bank vs. appraisal view • What are the appraisal assumptions that are being used? • What should you be looking for? • Market determination of value • Bank requirements • Evaluating the appraisal process • Appraisals are necessary for… • Evaluating different types of appraisals • What to do about appraisals that are way off • Sell/Not sell and the impact on capital requirements • Accounting/Balance sheet and GAAP issues an SAO needs to know • Impact on overall portfolio • Appraisal role • How internal processes work • Comparing bank balance sheets vs. 2 years ago

Session Chair:
Rhyne Brown, Executive Vice President, Client Development, NAI GLOBAL [ BIO ]

Panel Participants:
Jim Moore, Senior Vice President, THE BANK OF PERRY [ BIO ]
Phil Mays, Portfolio Director, EVERBANK COMMERCIAL ADVISORS [ BIO ]
Brian Bailey, Senior Supervisory Financial Policy Analyst, THE FEDERAL RESERVE BANK OF ATLANTA
Sean Randall, REO & Asset Valuation, GREAT FLORIDA BANK [ BIO ]

Rhyne Brown
Executive Vice President, Client Development
NAI GLOBAL
Brown
Phil Mays
Portfolio Director
EVERBANK COMMERCIAL ADVISORS
Mays
Sean Randall
REO & Asset Valuation
GREAT FLORIDA BANK
Randall

6:00 Networking Reception Courtesy Of:

7:00 Day One Concludes

Day Two: Friday, June 29, 2012

7:30 Breakfast is served for closed door workshop attendees

7:50-8:45 Closed Door Banker Discussion II - Small Banks, Small Deals

This meeting will focus on the smaller banks and the issues that they are
facing when working out their real estate assets

Discussion Leader:
Jim Moore, Senior Vice President, THE BANK OF PERRY [ BIO ]

8:30 Breakfast is served for all attendees

9:00 Current Macroeconomic Outlook: When will the Turn be Coming?

• Prospects of NOI growth for real estate • Economic growth expectations • Retail sales: Where is it going? • Employment growth • Local expectations • WWBBD: What will Ben Bernanke be doing? • Bank regulation impact • Where do you expect the next round of workouts to be coming from? • What are your top indicators? • Hold vs. Sell: Where do you expect a value increase? • Over there: The impact of Europe

Panel Participants:
Brad Hunter, Chief Economist, METROSTUDY [ BIO ]

Brad Hunter
Chief Economist
METROSTUDY
Hunter

9:25 Note Sale Mechanics & Performance

• When use vs. REO sale • Small vs. Big balance transactions • Accounting issues to be aware of • Defaults • Hurdles to overcome • Sector performance • Loan sale negotiations • How does a lender deal with existing guarantees for a recourse loan when deciding to sell a note? Does it make any difference when the loan is subject to an FDIC loss-sharing agreement? • Note sale disposition options • Participations & their agreements • Valuation issues • Assumption of liabilities

Panel Participants:
Michael Carp, Executive Vice President, BERKADIA COMMERCIAL MORTGAGE LLC [ BIO ]
Ken Rietz, Vice President - Special Assets, 1ST UNITED BANK
Yakhin B. Israel, Vice President, FIFTH THIRD BANK
Bliss Morris, CEO, FIRST FINANCIAL NETWORK [ BIO ]
Daniel J. O'Donnell, Director, HOLLIDAY FENOGLIO FOWLER, L.P. [ BIO ]

Michael Carp
Executive Vice President
BERKADIA COMMERCIAL MORTGAGE LLC
Carp
Bliss Morris
CEO
FIRST FINANCIAL NETWORK
Morris
Daniel O'Donnell
Director
HOLLIDAY FENOGLIO FOWLER, L.P.
O'Donnell

10:10 Collecting/Enforcing Judgements: Setting Recovery Goals and how to get There

• You got the judgment Now what? • Judgments against personal guarantees • Aggressive collections vs. Waiting in the weeds until the creditor might have the $$ • Reliance on certified balance sheets • Tracking disappearing assets • Evaluating the outsourcing option • Cost of pursuit: Is it worth it? • Information needed to enforce • Collection techniques • Selling off the debt • Engaging/Monitoring in-house counsel • Expected charge offs

Panel Participants:
Christopher Cimino, Managing Director, COHEN FINANCIAL [ BIO ]
Pam Hansen, Vice President & Assistant General Counsel, CAPITAL ONE BANK
Michael Anthony, Special Counsel, JONES WALKER
Nancy Tafoya, Consultant, WESTLB

Christopher Cimino
Managing Director
COHEN FINANCIAL
Cimino

10:55 Refreshments

11:15 Loan Modification Strategies

• Should you keep the owner involved? • To TDR or not to TDR: That is the question • Contrasting regulatory regimes • Pitfalls of Existing Remedies • Participations/Sub debt • Impact of jurisdiction • Not getting caught in the tax traps including debt forgiveness and timing of tax event • Pre-negotiation agreements • Arms length considerations • Is extend and pretend still in vogue? • Anatomy of a discounted pay-off

Panel Participants:
Pam Hansen, Vice President & Assistant General Counsel, CAPITAL ONE BANK
Geoffrey C. Wood, Senior Vice President, CWCAPITAL ASSET MANAGEMENT LLC
Mark P. Cotsakis, Regional Manager-Southeast Real Estate Managed Assets, Managing Director, WELLS FARGO BANK
Nancy Tafoya, Consultant, WESTLB

12:00 A Special Asset Officers Guide to Preparing for Loan Quality Deterioration: Effective Surveillance, Reporting, Documentation & Loan Review to Effective Manage Properties Showing Early Signs of Trouble

• What to do to minimize regulatory scrutiny • Finding Fraud • Technology used for SAM • Re-Examining your credit policies • Constructing/organizing special assets group • Using a 3rd-Party Servicer • Stress testing • Impact of local market • Evaluating current underwriting practices: Back to covenant light? • Role of interest coverage • What to do when the loan officer says “I thought it would be performing” • Modeling for a weak economy and the impact on your portfolio • Cure options for documentation deficiencies • Defense lessons learned • Lender liability traps

Panel Participants:
Dev Strischek, SVP & Senior Credit Policy Officer-Corporate Risk Management, SUNTRUST BANK [ BIO ]
Jorge Carvallo, Credit Officer, BANESCO USA [ BIO ]
Glenn Farley, Senior Vice President - Special Assets, BANK OF ATLANTA

Session Chair:
Toni V. Meyer Walker, Managing Director, CWCAPITAL REAL ESTATE SOLUTIONS [ BIO ]

Dev Strischek
SVP & Senior Credit Policy Officer-Corporate Risk Management
SUNTRUST BANK
Strischek
Jorge Carvallo
Credit Officer
BANESCO USA
Carvallo
Toni Meyer Walker
Managing Director
CWCAPITAL REAL ESTATE SOLUTIONS
Meyer Walker

12:45 The Bank & Financial Institution Special Asset Executive Conference on Real Estate Workouts Concludes


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