Asset Management Contractor
Urban Partnership Bank
Chicago, Il
Through a contracting agreement with MKM consulting, I am providing asset management, loan workout, loss share advisory and credit policy advisory services to Urban Partnership Bank for a portfolio of distressed loans purchased under a loss sharing agreement by Urban Partnership Bank from the FDIC as Receiver for the failed Shorebank. The portfolio of loans consists of:* Faith Based Loans* Multifamily Real Estate - 5+ units* Single Family Real Estate - 2-4 units* Multi Unit Commercial and Mixed Use Real Estate* Industrial Real Estate* Commercial and Industrial LoansServices Provided:* Direct management and resolution of a portfolio of distressed assets. Resolution strategies include foreclosure, consent foreclosure, deed-in-lieu, short sale, forebearance and loan modification, with an emphasis in converting foreclosures to loan modifications and maximizing claims under the loss sharing agreement.* Negotiation and resolution of post resolution deficiency balances.* Loss share advisory including review of previous previous loan resolutions to determine ensure maximization of loss share benefits.* Review of credit policy to ensure consistency with loss share guidance and actual operating practices.