Thursday, July 30th, 2015
11:02 PM
Bankers Closed Door Registration & Breakfast Opens

11:02 PM
Closed Door Discussion 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.

  • Terri Gumula, Vice President, CITI COMMUNITY CAPITAL (Discussion Leaders)
  • Robert Draper, Senior Vice President/Manger - Special Credits, COLUMBIA BANK (Discussion Leaders)
8:00 AM
Registration & Breakfast for All Attendees...Exhibits Open

11:02 PM
Opening Remarks from IMN

9:00 AM
How is the Current Macro Situation Impacting your Workout Strategy?
Are you becoming more willing to work out your real estate? • How would an interest rate rise impact your workout strategy? • Are real estate originations on the rise at your shop? • Portfolio sale vs. one-off • Selling notes vs. REO • Are you taking write downs? • Comparing your present day strategy vs. 2 years ago • Stabilizing a property • Working out operating businesses with real estate loans • Why aren’t you marketing this property? • Comparing cash flowing vs. Non-cash flowing properties • TDR treatment

  • Jerry Anderson, Executive Managing Director, SPERRY VAN NESS (Session Chair)
  • Larry Johnson, Executive Vice President, Director of Special Assets, BUSEY BANK
  • Jamie Hook, Executive Vice President, FIRST FINANCIAL NETWORK, INC.
  • Ron Sweet, Senior Vice President, GUARDIAN INVESTMENT REAL ESTATE
  • Margaret DeWoskin, Managing Director, LOAN MANAGMENT SOLUTIONS
  • Lisa Zeimetz, Special Assets Manager, MIDLAND STATES BANK
11:02 PM
Exit Strategy Value Maximization: Formulating a Restructuring Plan for Very Problematic/Hard to Sell Properties
Now that much of the low hanging fruit has been worked out how are you treating the more involved, complex workouts? • Pitfalls of existing remedies • Special considerations for small loans and REOs • Impact of a write down • When is a sale the best option? • Cost of carry • REO vs. Notes: Maximizing net present value vs. being pulled into REO • Retail vs. Commercial properties • When would it pay to put $$ into a highly-troubled property? • Would you consider a partner? • Title problems • Local zoning issues • Establishing a market value, bad or conflicting appraisals • Litigation or other legal problems • Loan sale vs. a foreclosure and REO sale • Construction Loans • Exiting from nontraditional assets • Would you consider asset swaps?

  • Robert Gordon, Partner, MAYER BROWN LLP (Session Chair)
  • Eric Lindner, Executive Managing Director, SITUS
  • Miguel Rasco, Senior Vice President, Special Assets and Real Estate Owned Manager, INTERCREDIT BANK
  • Martin Bronstein, Principal & Chairman of the Board, THE SITUS COMPANIES
  • Richard Page, Senior Vice President-OREO, U.S. BANK
11:02 PM
Loan/REO Buyer Panel: What are you Looking for?
• Sectors and geography you are playing in • Bank buyer joint ventures • Have you seen any seller finance? The Easter bunny? • Evaluating large pools: How can you not drown under the time constraints? • What information are your minimum requirements to consider when considering a property? • Evaluating tail risk • FDIC sale experiences • Exit strategies • Do you look to buy portfolios or one-offs? • Auction strategy • Have you re-traded? How much did you make? • Note vs. Property • Loan-to-own war stories • How good are the seller documents? What typical question do you ask during due diligence? • Thoughts on loan appraisals • Are you considering development/construction?

  • Tom Goldblatt, Business Development, MONOMOY CAPITAL PARTNERS (Session Chair)
  • Josh Ufberg, Managing Director, ATALAYA CAPITAL MANAGEMENT LP
  • Hendrik Vroege, Partner, EBF & ASSOCIATES
  • Arthur Nevid, Chief Investment Officer, MOUNTAIN REAL ESTATE CAPITAL
  • Kevin McKenzie, Head of Investments, SABAL FINANCIAL GROUP, L.P.
11:02 PM
Refreshments Courtesy Of:


11:02 PM
Non-Foreclosure Exit Options: Discounted Payoffs, Deeds-in-Lieu & Structured Sales
• Bank/Buyer joint ventures • A/B Notes: Is there a difference in the physical vs. regulatory treatment? • Impact of property size • Pay-to-goaway • Short sale • What the regulators have been saying • Would you do an above market discounted payoff? • Receiver sale • Participations and A/B Structures

  • Robert Kline, Principal & CEO, RW KLINE COMPANIES (Session Chair)
  • Ann Hambly, Chief Executive Officer, 1ST SERVICE SOLUTIONS
  • Jeffrey Liebman, Vice President and Associate General Counsel, BANKFINANCIAL, F.S.B.
  • Susan Booth, Partner, HOLLAND & KNIGHT LLP
  • Dan Markee, Senior Managing Director, ONWARD INVESTORS, LLC
  • Matthew Howe, Vice President, LAKESIDE BANK
11:02 PM
Note & Property Auctions
• Types of auctions and what has been working for difference situations • Why auctions fail? What to do about it? • Sealed bids • Auctions vs. oneoff sales • Do you go to auctions only after the traditional sale channels were tried? • Re-trade risk • Fee structures for buyers and sellers • Ability to close vs. Price • Comparing loan vs. REO

  • Joel Sestito, Attorney, GINSBERG JACOBS LLC (Session Chair)
  • Patrick Blount, President / CEO, BENEWOLF, LLC
  • Martin Kearney, Vice President, FIFTH THIRD BANK
  • Ron Burke, U.S. Business Development, CFP, FIRST FINANCIAL NETWORK, INC.
  • Navin Nagrani, Executive Vice President, HILCO REAL ESTATE
  • Hernan Magariños, Director, Portfolio Solutions Group, KPMG LLP
  • Edward Durnil, President, TRANZON ASSET ADVISORS
11:02 PM
Luncheon Roundtables:
This luncheon will feature special tables set up for community/local bankers, national bankers, servicers, bank lawyers, young professionals, women in real estate

11:02 PM
Maneuvering Through Bankruptcy and Foreclosure
• What factors determine your decision to foreclose? • Comparing judicial and non-judicial foreclosure • UCC foreclosure complexities • Personnel, entity-level and cross-collateral bankruptcy issues • 363 Sales when in bankruptcy • Bankruptcy springing recourse • Bankruptcy reorganization • Tenant bankruptcy on OREO • Residential properties • Deed-in-lieu of foreclosure • Foreclosure time frames • What unusual issues have arisen from taken a property back in foreclosure or deed in lieu of foreclosure? • Working out Mezz and CMBS vs. Whole loans

  • Jerry Switzer, Attorney, POLSINELLI PC (Session Chair)
  • Jeffrey Liebman, Vice President and Associate General Counsel, BANKFINANCIAL, F.S.B.
  • Mary Miras, Director, Assistant General Counsel, CAPITAL ONE
  • Robert Draper, Senior Vice President/Manger - Special Credits, COLUMBIA BANK
  • David Fischer, Partner, EDWARDS WILDMAN PALMER LLP
11:02 PM
Using a Broker vs. In-House Resources
• Expectations of your broker • Web Marketing • Evaluating niche property types • Local vs. national broker • Bulk sales • In-house sales: Regional vs. Centralized • Performance & Level of satisfaction • Broker communication • Do/how do you expect brokers help to insure quality buyers?

  • Graham Martin, Global Leader, KPMG (Session Chair)
  • Michael Carp, Executive Vice President, BERKADIA COMMERCIAL MORTGAGE LLC
  • Martin Kearney, Vice President, FIFTH THIRD BANK
  • Richard Levine, Managing Director, GUARDIAN
  • William Mitchell, Managing Director, HOLLIDAY FENOGLIO FOWLER, L.P.
  • Kirsten Helma, Vice President, Manager of Real Estate Dispositions, MB FINANCIAL BANK, N.A.
4:00 PM
Refreshments Courtesy Of:


11:02 PM
Condos, Multifamily & Land: Working Out For-Sale Housing, Lots & Rentals
• HOA issues including HOA receiverships • Single unit workouts • FHA as an exit strategy • Broken condo conversions: Evaluating your next steps for buildings with and without sales • Retail mixed-use with residential • Developed vs. raw land options • Working out homebuilders • Cost of carry • Agricultural land • How do you evaluate when land will be moving again in a given market • Current bid/ask spreads • Can a banker make $$ selling land 10 cents on a dollar?

  • Francis Keldermans, Partner, HOLLAND & KNIGHT LLP (Session Chair)
  • Steven 'Sonny' Ginsberg, Member, GINSBERG JACOBS LLC
  • Kirsten Helma, Vice President, Manager of Real Estate Dispositions, MB FINANCIAL BANK, N.A.
  • Jason West, Executive Vice President, PINNACLE FINANCIAL PARTNERS
5:10 AM
Loss Share Agreement Ins & Outs and Assessing the Property Portfolio When Purchasing a Bank
• What do the agreements say? • Can/should you re-sell the property? • Current structures • Which assets does the FDIC cover in a loss share agreement? • Loss share evolution over the last two years • Comparing commercial and residential property loss share agreements • What types/how much in losses before a loss sharing agreement kicks in? • FDIC oversight • What is the maximum dollar amount that can be loss shared? • Loss share agreement value • Examining the target’s real estate portfolio, loan operations & staff • Loan grading/loss projections • Post acquisition synergies • Assessing real estate operations, synergies, staffing and man power needs • Identifying cash flow

  • Lisa Quateman, Managing Partner, Los Angeles, POLSINELLI (Session Chair)
  • Robert Draper, Senior Vice President/Manger - Special Credits, COLUMBIA BANK
  • Jennifer Walton, Resolutions & Closings Manager, FEDERAL DEPOSIT INSURANCE CORPORATION
  • Michael Sher, Managing Director, RSM MCGLADREY, INC
  • David Larson, Managing Director, WINTRUST FINANCIAL CORPORATION
11:02 PM
Networking Reception Courtesy Of:


11:02 PM
Day One Concludes

Thursday, July 30th, 2015
8:00 AM
Breakfast

11:02 PM
Lessons Learned: Constructing & Organizing your Special Assets/Workout Platform & Hiring Service Providers
• Outsourcing: When is it opportune? • Identifying specific needs in your group • Special considerations for large vs. small groups • Evaluating quality of a 3rd-party: What do you look for in a receiver? Management company? Attorney? • Are you starting to dismantle your special asset groups and send the professionals back to loan origination? • Time needed to workout • Approval process • Staff challenges

  • Pat O'Keefe, Managing Member, O'KEEFE & ASSOCIATES (Session Chair)
  • Mike Riveron, REALTOR-MLO-Business Opportunity, BERKSHIRE HATHAWAY FLORIDA REALTY
  • Tim Mazzetti, Partner, President, COHEN FINANCIAL
  • David Frances, Executive Vice President - Chief Workout Officer, ARMED FORCES BANK
  • LaVonda Alleman, VP-Senior Account Executive, LOCKTON COMPANIES
9:10 AM
Options When Keeping the Owner Involved: The Financing Side Including Refinancing/White Knight Financing/Adding Equity
• Issues surrounding selling the loan back to the borrower • Do you believe in seller finance? • Time needed to close • How much equity do you like to see in the deal? • Bridge loans • Preferred equity • Sources of finance • Financing half-built deals

  • Brett Anders, Shareholder, POLSINELLI SHUGHART (Session Chair)
  • Kenneth Grams, President & CEO, KINETIQ GROUP
  • Tim Mazzetti, Partner, President, COHEN FINANCIAL
  • Eric Lindner, Executive Managing Director, SITUS
  • Robert Kline, Principal & CEO, RW KLINE COMPANIES
11:02 PM
The Receiver/Banker Panel
Advantages and disadvantages of receiver use • Criteria for selecting • The receiver sale or leasing assets • Receiver role in loan docs • Local regulations and foreclosure laws to be aware of • Receiver insolvency complexities • Role in construction projects

  • Clark Rogers, Senior Vice President, KEYBANK REAL ESTATE CAPITAL (Session Chair)
  • Terri Gumula, Vice President, CITI COMMUNITY CAPITAL
  • Edward Weil, Member, DYKEMA GOSSETT PLLC
  • Miguel Rasco, Senior Vice President, Special Assets and Real Estate Owned Manager, INTERCREDIT BANK
  • Ned Smith, Vice President - Special Servicing, MIDLAND LOAN SERVICES, PNC
  • David Distel, Managing Director, O'KEEFE & ASSOCIATES
11:02 PM
Options When Keeping the Owner Involved (2): Changing Loan Terms, Modifications, Extend & Pretend
• When should you keep an owner involved?: The decision matrix • Risk of extend & pretend vs. sell • Debt forgiveness tax complexities • CMBS regulations • Write down considerations • Impact of relationship with a long- term client • Experiences with regulators on changing loan terms • New FASB rules, are they limiting bank options for holding on • Interest and amortization rates • Cross-default provisions • Loan document updates • Principal reductions • Lender liability waivers: Do buyers buy? • Building management • Mezz and CMBS Complexities

  • Richard Pulido, Principal, PRUDENTIAL MORTGAGE CAPITAL COMPANY (Session Chair)
  • Ann Hambly, Chief Executive Officer, 1ST SERVICE SOLUTIONS
  • Michael Carp, Executive Vice President, BERKADIA COMMERCIAL MORTGAGE LLC
  • Larry Johnson, Executive Vice President, Director of Special Assets, BUSEY BANK
  • Kenneth Grams, President & CEO, KINETIQ GROUP
11:02 PM
Refreshments Courtesy Of:


11:02 PM
Working Out Hotels: Can We Call it a Comeback?
• Comparing class A luxury vs. other markets • Picking a management company • Franchise agreements & licenses • Remedies and flag agreements • Receivers in hotel workout world • Working out the mixeduse part • Hotel development deals

  • Richard Sprecher, Vice President, Business Development, AIMBRIDGE HOSPITALITY, LP (Session Chair)
  • Clark Rogers, Senior Vice President, KEYBANK REAL ESTATE CAPITAL
  • Jeff Schrader, Director of New Business Development, KINSETH HOTEL CORPORATION
  • Michael Marshall, President & CEO, MARSHALL HOTELS & RESORTS
11:02 PM
TDRs (Troubled Debt Restructuring) & Other Key Regulatory Issues
• Comparing 2009 vs. 1992 TDR guidance • Translating TDRs into investment opportunities • TDRs and community bankers • How lenders can size a bifurcation of a loan into a good “A” note and bad “B” note • Lender objectives • Benefits to the borrower • Regulatory reporting requirements • New FASB rules, and their impact • Potential TDR abuses • Impact of Dodd-Frank: Do conflict mineral provisions and Chinese wallboard pertain? • Appraisal accuracy • Risk management • FAS 157 • Lessons learned from loss reviews • Accruals • SEC and extend and pretend • How are bankers managing the regulators? * Portfolio stress testing for banks of less than $10B in assets

  • Jason West, Executive Vice President, PINNACLE FINANCIAL PARTNERS (Session Chair)
  • Mike Riveron, REALTOR-MLO-Business Opportunity, BERKSHIRE HATHAWAY FLORIDA REALTY
  • Robert Walker, Senior Supervisory Financial Analyst, FEDERAL RESERVE BOARD
  • John Allen, Managing Partner, FENWICK RESEARCH AND CONSULTING, LLC
  • Robert Lasher, President, Chief Consultant, LASHER & ASSOCIATES
1:10 AM
Bank & Financial Institution Special Asset Executive Conference on Real Estate Workouts Concludes

Event Contacts
Managing Director
Andy Melvin
(212) 901-0542
amelvin@imn.org
Senior Vice President/Director of Progamming
Steve Glener
(212) 901-0536
sglener@imn.org
Vice President - Sales
Robert Bass
(212) 901-0535
rbass@imn.org
Head of Sales - Real Estate
Todd Rosenberg
(212) 901-0552
trosenberg@imn.org
Senior Conference Coordinator
Ashley Roseman
(212) 901-0561
aroseman@imn.org
Venue
Hyatt Regency Chicago

Phone: 1-312- 565- 1234
Fax: 1-312-239-4414
Website: http://chicagoregency.hyatt.com/hyatt/hotels/

151 East Wacker Drive,
Chicago, IL,
USA


The Hyatt Regency is currently sold out on Monday, Sept. 12th. Rooms are still available for the night of Sept. 11th at the hotel's going rate.

Hotels
Fairmont Chicago, Millenium Park

200 North Columbus Drive
Chicago, IL, 60601
USA

The Fairmont Chicago is only a few buildings from the Hyatt Regency. Please note that IMN does not have a group rate at this hotel.

Phone: 312-565-8000
Website: http://www.fairmont.com/chicago/

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