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Many lenders are now facing
the reality of significant defaults and the declining value of
their collateral. For banks, the increase in non-performing loans
threatens to eclipse not only their loan-loss reserves, but to
render their institutions insolvent. The need to re-engineer
their single family loan portfolio in a way that would turn
sub-performing and non-performing assets into performing assets
is an obvious imperative.
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Freudenheim
Graves, Inc. provides asset and portfolio management services to
holders of real estate mortgages. Our clients typically
are seeking to solve problems related to specific non-performing
assets or to reduce delinquencies of entire portfolios of loans.
Our clients have included banks and thrift institutions in the
northeastern and middle-Atlantic regions of the U.S.
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Loss
Mitigation |
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FGI's Portfolio Loss Mitigation
Service (PLMS) offers portfolio re-engineering services to
banks, servicers and other holders of home loans. The service
focuses on:
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identifying sub-performing and
non-performing loans that can be targeted for modification;
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working with lenders' loss
mitigation staff to maximize borrower response to outreach
efforts to targeted borrowers;
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performing re-underwriting to
determine the terms under which loans can be modified so
that non-performing loans can be re-written to make them
viable credits;
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providing a standardized
business case in support of its loan modification
recommendation;
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facilitating the administrative
aspects of affecting loan modifications; and
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solving compliance
irregularities that make both performing and non-performing
loans unmarketable.
FGI develops a specific loss
mitigation strategy for each non-performing loan and prepares a business plan for senior management review.
Upon approval, FGI can implement the
business plan and/or provide supervision to a lender's in-house
loss mitigation department. |
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Modification of subprime Debt |
| FGI has been
on the front lines of the subprime debt crisis and has
developed highly cost effective methods for analyzing and
modifying non-performing subprime mortgages. FGI's
proprietary technology platform facilitates the uniform
application of underwriting standards and creates substantial
efficiencies in handling large volumes of non-performing single
family home loans. |
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Structured Workouts |
| Non-performing commercial
loans often present complex challenges that require carefully structured
workouts. FGI has successfully structured hundreds of
non-performing commercial loans involving multiple lenders and
encompassing essentially every type of real estate collateral.
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Bankruptcy Resolution |
| FGI has played
a critical role in representing lenders involved with large and
complex bankruptcies. Coordination with counsel and
attention to detail is critical in properly filing the lender's
claim, protecting cash collateral and working with receivers and
in review of the debtor's plan. |
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REO Asset Management and
Disposition |
| FGI has provided
specialized REO asset management and disposition services for single
family properties, multifamily properties, shopping centers, office
buildings, industrial properties, and land in all stages of development.
In order to maximize recovery from owned real estate, it is often
necessary to cure deferred maintenance or to complete planned
improvements. FGI has the hands-on experience necessary to step
into the developer's shoes and add value to failed commercial and
residential projects, so as to maximize the lender's recovery.
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Asset Sales
Support and Seller-side Due Diligence |
| FGI has extensive
experience in performing large scale seller-side due diligence and
providing strategic support for whole loan asset sales. FGI
believes that the best information leads to the best execution and its
pre-sale re-underwriting systems have facilitated the sale of
approximately $5 billion in single family, multifamily and commercial
loans. |
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