Bruce Katz Email and Phone Number

Evaluate sub-prime and BHPH auto loan portfolios for acquisition by client finance company. Target portfolios range in size from $40 million to over $125 million. Limited information typical. Role includes evaluating performance profile of the loans from each originator, other aspects of diligence, pricing, offering terms and deal documentation and execution.

Advised managing member of a family-owned limited liability company that invests in commercial real estate, including selection of real estate in Charlotte, North Carolina for purchase in a 1031 exchange, lease negotiation, buy-out of minority interests, mortgage financing and refinancing. Appointed Managing Member in early 2019.

Presidential Bank, founded in 1985, privately-held and governed by a five-member Board, grew to a $600 million institution; primarily engaged in multi-family, construction and commercial real estate finance and residential mortgage banking. Board required to approve all loans over $1 million -- evaluated a substantial number of commercial and real estate loans over 10 years. Bank entered into a Supervisory Agreement with the Office of Thrift Supervision (May 2010), later replaced by a Consent Order with the Office of the Comptroller of the Currency (January 2012). Active focus on credit and related policies, loan committee proposals, internal credit ratings, asset quality and reserves, progress of workouts and level of mortgage banking activity, as well as compliance with supervisory mandates. Resigned from Board in mid-2012. The Bank continues to be profitable.

Originated, structured and managed senior and subordinate asset-based loans secured by a broad range of commercial and consumer assets and receivables and with widely-varying transaction structures. Directly or indirectly financed (i) purchase orders and inventory (with specific transactions involving railroad tank cars, power generation equipment, aircraft parts and aircraft), (ii) non-performing and sub-performing commercial loans, (iii) life insurance premium finance loans, (iv) floor-plan loans to auto dealers, (v) fractional purchases of future credit card receipts from merchants, (vi) cross-border royalty payments flowing from slot machines, (vii) sub-prime mortgage loans, (viii) sub-prime auto loans and (ix) unsecured consumer loans.Obtained, structured and maintained $200 million long-term leverage facilities for bankruptcy-remote subsidiaries of the special opportunity funds managed by the firm. Leverage for such a diverse asset mix and fund manager with a limited track record was difficult to obtain and complex to document and model. Advantageous pricing negotiated, and substantially all asset classes and transaction types were eligible for financing. The general leverage limit was supplemented with multiple concentration limits similar to those used in CLOs. Maintained lender confidence through scrupulous accuracy in asset quality reporting and voluntary use of “haircuts” for troubled transactions.

Brokerage focused on subordinate and/or unrated asset-backed securities, ABS residuals and whole loan pools that were available for sale, in distressed situations or upon business line exit. Retained by major auto retailer & lender for the sale of residuals on $2.3 billion securitized pools of near-prime auto loans (sale included balloon loans & leases and closed July 2003).Consulting and valuation services primarily in the auto and consumer finance markets. Assignments included advising Superior Bank, FSB as to outsourcing servicing on its auto loan and lease portfolios at the direction of the OTS (2001) and reviewing the valuation of a buyer/servicer of sub-performing mortgage loans for a major NYC-based private equity firm (2003). Served as an expert witness for a hedge fund and an investment bank in an arbitration concerning claims payable under secured value insurance policies (the policies covered over $545 million sub-prime auto loans in four securitizations) (2000 - 2006). Also assisted The Patriot Group (see above) to evaluate and complete the purchase of operating railcar assets, and to place them under third-party management (2003).

Prior to May 1998, responsible for transaction execution and relationship development in consumer asset backed finance group of approximately 30 professionals. Beginning in 1995, managed over one-third of the more than 40 securitizations of auto loans, in an aggregate par amount over $3.1 billion, underwritten or placed by Greenwich Capital Markets.Principal Transactions Group from May - December 1998. Group focused on equity investments in, asset purchases from and funding facilities for specialty finance companies involved in the acquisition and collection of performing and non-performing (including charged off and bankruptcy) receivables, including auto loans, credit cards and lottery/structured settlement awards.

Developed expertise in structured finance and was offered senior position as Structured Finance Counsel. Assignments included Bank Finance (bank lending – senior and subordinate, secured and unsecured), Bank Regulation, Bankruptcy/Leveraged Leasing and Corporate Finance Groups. Notable structured finance transactions include creation of and receivable purchases under asset-backed commercial paper programs for Citicorp and other bank holding companies, credit card and trade receivable master trusts, cross-border future receivable securitizations of financial and natural resource receivables, arbitrage-driven collateralized bond offerings, and leveraged lease financings of aircraft, rolling stock and manufacturing equipment.