Michael Carp Email & Phone Number

Dallas, Tx

Headquartered in Dallas, Veritex Community Bank has over 40 banking centers throughout the Dallas-Fort Worth metroplex and in the Houston metropolitan area. Veritex Community Bank is a Texas state chartered bank regulated by the Texas Department of Banking and the Board of Governors of the Federal Reserve System.At December 31, 2022, Veritex reported assets of over $10.9 billion.Veritex purchases individual loans and groups of loans, through both acquisitions of other banks and the normal course of its operations, some of which have shown evidence of credit deterioration since origination. These PCD loans at December 31, 2022 were approximately $34 million (down from $172 million at June 30, 2019).• Hired to lead the integration of special assets from seven acquired banks.• Projects have included data consolidation, portfolio re-assignments, best practice reviews and drafting new procedures.• Collaborate with accounting & finance to manage purchase accounting issues and recently-adopted CECL matters.• Managed nine-member team that resolved more than $110 million of distressed assets in 2021 with a recovery of more than 93% and more than $86 million of distressed assets in 2022 with a recovery of more than 98%.• As a player-coach, I am responsible for portfolio operations and managing sub- and non-performing loans secured by commercial real estate.• Hands-on management and resolution of large balance CRE credits exceeding $90,000,000.• Managed resolution strategies including auctions, loan sales, bulk sales and Trustee-directed sales.• Member of the Credit Administration Leadership Team.• Co-chair Special Assets Committee.

Dallas, Tx

Leveraging vast experience in commercial lending and business operations to provide professional consulting services to lenders, investors, lawyers and service companies.• Underwrote and inspected commercial real estate for high-yield debt funds.• Evaluated and submitted recommendations for a portfolio of under-performing loans secured by hotel properties.• Researched the options for regional mall re-development.• Developed and presented proposals to build a Dallas-based underwriting/surveillance/asset management platform.• Observed and evaluated private mediations; completed assignments for Dallas County Dispute Resolution Center.• Engaged by national law firm as expert witness; prepared an Expert Report in connection with lender’s legal defense.• Researched and prepared a written report on blockchain technology and its potential role in the CRE servicing business.• Reviewed capital market opportunities for a national borrower advocate.• Assessed the opportunity to acquire a restaurant on Maui, Hawaii.

Dallas, Tx

• Recruited by H/2 to lead the authentication and expansion of asset management platform. • Established the Dallas office and orchestrated strategic hires. • Managed efforts to grow beyond provisional Primary Servicer and Special Servicer ratings and achieved rating upgrades from FitchRatings and S&P within six months. • Oversight of business activities including servicing & administration, operations & technology and loan/REO asset management. • Led eight-member Credit Committee and supervised all borrower requests and asset management activities including the resolution of defaulted commercial loans.• Directly managed defaulted commercial loans avoiding millions in losses.• Created millions of dollars of collateral value processing more than 200 borrower requests including more than 150 consents in connection with $1+ billion commercial loan.• Underwriting of new credits and the re-underwriting of watchlist and focus credits to assess risk profile.• Ongoing, proactive asset management for performing loans including covenant monitoring, property-level operating analysis and borrower/guarantor reviews. • Engaged in quarterly portfolio surveillance and loan-level risk rating of $14 billion portfolio comprised of mortgages and corporate securities.• Maintained and nurtured borrower relationships in connection with performing loan management tasks.

Dallas, Tx

• Responsibilities included hands-on asset management, portfolio administration and oversight, employee recruiting & retention and liaison with various corporate support services (finance/accounting, human resources, information technology and legal).• Acquisition underwriting for more than $1.5 billion of FDIC portfolios, conduit b-pieces and Freddie Mac K-Series. • In the transition from Capmark to Berkadia, intense focus on operational efficiency and, through meticulous process reviews, realized immediate cost savings from a 26% workforce reduction. • New business prospecting targeted “pure” third party asset management (including banks, FDIC and GSE’s) and strategic alignment with owners and buyers of distressed debt.

Dallas, Tx

• Member of Sr. Leadership Team responsible for the management and expansion of Commercial Solutions, a business unit dedicated to providing commercial real estate underwriting and asset management services to Capmark and 3rd parties.• Collaborated with internal Six Sigma resources to undertake ambitious enterprise-wide efficiency initiative. Coordinated clusters of staff teamed for best practice and process reviews. Changes included the centralization (and elimination) of certain duties and additional offshoring and outsourcing.• From late-2006 through mid-2008, substantially dedicated to Capmark Affordable Equity (972 properties, $3.0 billion in tax credit equity, $5.6 billion of outstanding debt); selected to lead entire Asset Management group; initiated the transition of “back office” services to Capmark Global Services.• From 2006 through 2009, the group resolved more than 600 commercial assets ($4.4 billion).

Dallas, Tx

• Led team to evaluate operational efficiencies; best practices review substantially complete in the first 100 days; selected to manage the integration and management of the combined US operations.• Sustained a thriving acquisition initiative targeting sub- and non-performing loans and impaired subordinate CMBS. • In January 2006, led the integration efforts to consolidate Asset Management and Special Servicing into Global Services. Projects included an operational review that produced annual savings of $2.5 million (a 20% savings over 2005) by eliminating redundant and non-essential tasks.• From late-2003 through mid-2006, the group resolved more than 700 commercial real estate assets with an unpaid principal balance exceeding $4 billion.

Dallas, Tx

• Integrated the AMRESCO and Lend Lease special servicing operations. Assumed responsibility for all Lend Lease domestic asset management activities including CMBS special servicing and C&I asset management.• Provided asset management underwriting and advisory support for strategic initiative to acquire subordinate CMBS and sub- and non-performing loans. Worked collaboratively with institutional and opportunistic investors to co-invest Corporate capital. Acquisitions included bank portfolios, a substantial SBA portfolio and subordinate-CMBS.• Acted as Lend Lease’s representative in Lend Lease Mexico, a joint venture with BBVA-Bancomer. Lend Lease Mexico (successor to AMRESCO Mexico) was engaged in the underwriting, acquisition and management of sub- and non-performing loan portfolios purchased from IPAB, FOBAPROA, banks and institutions in Mexico. As of June 30, 2003, Lend Lease Mexico was managing more than 9,000 assets with a principal balance of $309 million.• Oversight for final liquidation of C&I assets in co-investment partnerships with several large institutional investors.• Critical functions include client/investor relations for third party clients, co-investment partners and joint venture partners.• As Principal, responsibilities include portfolio administration/oversight, operating procedures, staff recruiting/training, engagement of legal counsel and consultants and liaison with various support services (accounting, human resources, information technology, legal, loan administration and reporting). Other management responsibilities include rating agency liaison, new business development, budgeting and strategic planning.• Among various Lend Lease special projects, participated in the McKinsey-led Business Repositioning Project documenting “missions, activities and end products” for the Asset Management business unit.

Dallas, Tx

• Initially hired to manage assets under a series of SAMDA contracts for the Chicago regional office of the Resolution Trust Corporation (RTC). Quickly promoted to Senior Asset Manager and given more portfolio management and administration responsibilities. Participated in business plan preparation and portfolio management for SAMDA assets administered under contracts with the Valley Forge and Minneapolis regional offices of the RTC. In 1992, promoted to Senior Project Manager responsible for the management and disposition of assets in two SAMDA contracts under the supervision of the Dallas regional office of the RTC. • Managed the disposition of a $44 million portfolio of performing and sub-performing loans (Burritt) acquired with a major Japanese institution.• In 1992, established asset management policies and procedures for securitized portfolios. Participated in the earliest servicer reviews for BEI to be rated as a Special Servicer. Managed the Special Servicing activities for 1992-CHF - one of the earliest and largest C-series portfolios of loans securitized by the RTC (1,764 assets, $1.5 billion book value). Over time, 640 assets ($832 million UPB) were transferred to Special Servicing. • In 1994, established policies and procedures for BEI’s largest co-investment portfolio – California Federal Savings Bank (CalFed). This portfolio included 194 assets (including loans and REO) with an outstanding balance of approximately $358 million. Collaborated with joint venture partner and others to securitize an $85 million performing loan portfolio. Coordinated asset management and administrative efforts in two offices (Dallas and Irvine) including asset resolution, client relations, servicing, reporting and accounting.

Dallas, Tx

Dallas, Texas

Dallas, Texas

Dallas, Texas

Master Of Arts - Ma, Dispute Resolution

Bba, Business, Accounting