Carla Herring Email & Phone Number

Greater Chicago Area

Manage the restructuring of poor performing loans or leases and workout activities. Develop approiate strategies to resolve distressed lease and loan transactions. Responsible for all reporting analysis related to distressed assets.●Mitigate losses on delinquent/distressed accounts through workout, litigation and bankruptcy.●For all assigned accounts, develop resolution strategies and recommend actions within department guidelines.●Prepare formal credit write-ups and present transactions for approval within department standards.●Negotiate resolution strategies with Borrowers, Franchisors and other interested parties.●Work closely with legal counsel in structuring and negotiating bankruptcy and non-bankruptcy restructure transactions.●Prepare financial models and perform valuation analysis in workout situations.●Monitor accounts to ensure ongoing compliance with loan agreements and credit approvals.●Cooperate with Operations to ensure timely funding of advances and application of payments.

Chicago, Il

Managed a $547MM national LIHTC portfolio of 229 multi-family properties in Multi Investor Funds and 24 MHC and non-performing properties totaling $99MM. Negotiated and closed REO Sales and restructures, including review and negotiation of third party debt and equity documents. Participated, managed and implemented a Six Sigma quality project that drove process improvements in the Hotel underwriting and closing processes. Lead a team of Asset Managers to simplify and document certain asset management processes and implement the new process.Asset Manager/Senior Asset Manager (2004-Present)• Oversaw all stages of asset management from due diligence, into stabilization, ongoing operations, and disposition/payoff. •Negotiated numerous sales/workouts resulting in minimal losses and over $5MM in gains, performed property surveillance activities, prepared internal approval memos, closed new and loan modifications & sales of loans and properties, valued properties, reviewed and approved annual property budgets. •Responsible for all aspects of loan management, including: property surveillance activities (audits, financial statement reviews, valuations, negotiating and processing loan modifications, funding holdback dollars.•Manage an annual average portfolio of $547MM across 32 deals/253 properties located in over 26 states. •Approved and funded $316MM of staged equity investment capital in Tax Credit deals. •Worked with the Federal Reserve on Compliance issues.

Chicago, Il

•Closed complex real estate transactions by performing due diligence for various product types (Office, Golf, MHC, Tax Credit and Hotels).Closed loans for properties located in Mexico and Canada.Prepared Funding packages for approval•Closed loan restructures and sales of REO properties.•Reviewed all credit request, loan documentation and perform closings in accordance with applicable policies and procedures. Rectify all deviations between credit request and application prior to documentation.Assisted the origination/risk teams on due diligence activities.•Worked closely with in-house and outside counsel as well as Borrower’s counsel, Borrower and/or Broker on all closings to ensure all due diligence items are received prior to closing a transaction.•Communicated all post-closing issues during hand off to assigned Asset Manager

Chicago, Il

Manage the restructuring of poor performing loans or leases and workout activities. Develop approiate strategies to resolve distressed lease and loan transactions. Responsible for all reporting analysis related to distressed assets.●Mitigate losses on delinquent/distressed accounts through workout, litigation and bankruptcy.●For all assigned accounts, develop resolution strategies and recommend actions within department guidelines.●Prepare formal credit write-ups and present transactions for approval within department standards.●Negotiate resolution strategies with Borrowers, Franchisors and other interested parties.●Work closely with legal counsel in structuring and negotiating bankruptcy and non-bankruptcy restructure transactions.●Prepare financial models and perform valuation analysis in workout situations.●Monitor accounts to ensure ongoing compliance with loan agreements and credit approvals.●Cooperate with Operations to ensure timely funding of advances and application of payments.

Chicago, Il

Direct supervision of four employees and one closing assistant including monitoring and realigning workflow, responding to loan closing issues and completing performance reviews. Hire and train new staff members. Also assisted staff in closing complex transactions. Drafted closing processes and procedures (including but not limited to third party reports, funding procedures and documentation review). Responsible for managing the relationship with 3rd party vendors such as appraisers, engineering and environmental consultants to ensure consistent quality of all reports. Travel to Regional Offices to build and maintain relationships with Originators and Underwriters.Senior Closing AnalystClosed complex transactions and syndicated deals with 3rd party Lenders. Closed international transactions for Mexico and Canada. Worked with Mexico and Canadian counsels to close of these transactions in accordance with the countries real estate laws and proper documentation.Company acquired by GE October 2001

Chicago, Il

Harris Trust and Savings Bank, Chicago, IL 1987-1998 Vice President-Senior Loan Administrator Prepared loan authorization and draft legal documentation for all Small Business Administration (SBA) Loans (7A, Low Doc, 504 and Export Lines of Credit) using approved documentation software. Conduct due diligence on all new and renewal loans and close all transactions at various title companies. Reviewed all participation and syndication loan documentation for the purchase or sale of a loan. Worked with in-house counsel on all syndicated deals. Prepared releases and loan commitment Letters. Developed and taught seminars on loan documentation to all new originators and underwriters.Assistant Vice President-Loan Administrator, Chicago, ILPrepared legal documentation for all asset loans (equipment and inventory), have documents reviewed by in-house counsel for accuracy. Review all credit requests to make sure loan is documented properly. Travel with Loan Officers to meet customers to discuss purpose and loan structure. Confer with in-house counsel on complex deals. Follow-up on all post-closing items and missing documentation. Work closely with customer to receive all required checklist items prior to closing.Credit Officer-Loan Documentation Specialist, Chicago, ILAnalyzed both standard and complex loan agreements, security agreements and related documentation to assure that they are in accordance with the approved credit request. Deviations from credit approval reports are prepared for Relationship Managers to correct deviations or send the proper documents to approve such deviations.

Mba, International Finance

Lawyers Assistance Program-Paralegal Certification, Pre-Law Studies

Bs, Pre-Law