2. OVERVIEW
CREMAC was founded in 1995 to purchase and manage distressed assets
in the mortgage, real estate and mortgage backed securities sectors.
The company was reconstructed in 2007 in anticipation of market
alterations. Today, the company has emerged as a mortgage dynasty, a
vertically integrated group of focused entities each dedicated to specific
entities,
aspects of the mortgage, real estate and securities industry.
2
3. OVERVIEW (cont.)
( )
Over the past 15 years, the companies developed the unique technical and
practical expertise to effectively underwrite and manage both commercial
ti l ti t ff ti l d it d b th i l
and residential mortgage loans, real estate and fixed income securities.
Today the reconstructed companies are:
y p
CREMAC Capital Partners
C it l P t CREMAC Asset Management
Principal Transaction/Finance
Registered Investment Advisor (Advisor)
(Investment Manager)
CAM Loan Servicing Risk Management Group (
g p (RMG)
Residential CRM & Due Diligence
Commercial Mortgage Loan Servicer
(Residential Oversight)
(Servicer)
3
4. Corporate Structure
The CREMAC Companies specialize in providing customized
services tailored to the specific needs of our clients:
p
Services: Services: Services: Services:
Registered Investment National Loan Servicing & Principal Transaction •Residential Due
Advisor Asset Management Platform Diligence
•Commercial Whole
Institutional Services •Covenant compliance Loan Acquisitions •Residential Credit
•Institutional Asset •Commercial Mortgage Loan Risk Management
Management Special Servicing • Co-investment &
•Specific Strategy •Default/Foreclosure Participation Program •Residential Servicer
Investment advisory management services Oversight
•Reg-D 144 A RELP •Asset Management •Commercial
Offerings •Real Estate Disposition Mortgage Lending •Residential Whole
•CRE Portfolio Services Loan Oversight
Management & Risk •Commercial Loan File •CREMAC Real Estate
Assessment (Pursuant Underwriting and Acquisition Investment Fund I •Put-Back Review
to joint agency guidance Due Diligence (Multi-Family forensic analysis
& ALLL policy •Commercial Real Estate acquisitions)
statement) Valuation
•Portfolio Valuation Collections
•Liquidation Agent Tier 1
(Securities UCC sales) Tier 2
•Loan Sale Advisory •In/out bound call center
services
•Strategic Call Campaigns
using Optimizer software 4
•Dedicated In bound staff
(warm transfers)
6. Financial Institution
Portfolio Valuation Service
Commercial Real Estate concentrations have been rising
over the past several years and have reached levels that
could create safety and soundness concerns for
institutions, d i
i tit ti driven by the recent economic downturn.
b th t i d t
CREMAC Asset Management’s advisory services focus on
the client’s portfolio objectives. CREMAC Asset
CREMAC Asset Management g Management designs a strategy that enables its clients
g g gy
advisory services utilizes an accurate, to maintain a strong investment underwriting and
flexible and cost-effective portfolio review process while identifying risk posed by CRE
analysis platform. Our platform is
investment concentrations.
continually updated so that the scope
and depth of its capabilities remain
unmatched.
hd Services offered by CREMAC Asset Management are
customized for each client to meet their specific goals
and objectives.
6
7. Financial Institution
CRE Services
Develop CRE Framework
Assess risk concentrations
Review board and management oversight
Portfolio management strategies
Assess effectiveness of management information systems
Market analysis and stress-testing
stress-
Underwriting and credit risk review
Supervisory oversight-assessing i
S i oversight-
i ht i investment concentration management and capital requirement
t t t ti t d it l i t
adequacy
Development of an effective loan review system including a sound credit grading system
Develop a well-documented, consistent loan portfolio analysis considering all significant factors
well-
effecting collectability.
Develop a ready network of legal, appraisal, real estate brokerage and property management
firms.
firms.
Develop policies and procedures for the estimation of allowance for Loan Losses
Data capturing & reporting system
Whole loan pricing & credit loss modeling
Historical loss rates, recent industry trend Loss rates & migration analysis
Quantitative factors & changes in value of underlying collateral
Changes in national, regional and local economic and business conditions
PV expected future cash flow (discounted at loans effective interest rate)
(discounted rate)
Independent audit and validation of Allocated Loan and Lease Loss (“ALLL”) Methodology
Ratio analysis (identify divergent trends)
Impairment measurement methodology consistent with FAS 114 evaluated individually and FAS 5 as a group
7
8. Financial Institution
CRE Loan Review System
Our loan review system provides a utility independent of the lending function. It provides an
y p y p g p
effective internal reporting process geared toward maintaining the integrity of the loan classification
or credit grading process and coordinates the gathering of information necessary to assess the
appropriateness of the “ALLL”. The results of our loan review process provide an objective and
timely assessment of the overall quality of the loan portfolio. The systems objectives are:
Properly identify loans with potential credit risk
Appropriately grade or adversely classify loans
Identify loans with well-defined credit weaknesses that jeopardize
well-
repayment so that timely action can be taken and minimize credit loss
Identify relevant trends that affect the collectability of the portfolio
Isolate segments of the portfolio that are potential problem areas
Assess the adequacy of and adherence to internal credit policies and loan
administration procedures
Monitor compliance with relevant laws and regulations
Loan-
Loan-monitoring procedures and risk assessment
8
9. Financial Institution
Loan Risk Assessment and Monitoring
FDIC & OCC guidance reinforces the importance of sound risk assessment practices and on going CRE
loan monitoring. The guidance reiterates the importance of robust information management systems,
stress testing and accurate market analysis.
Today’s
T d ’ commercial real estate b
i l l t t borrower i experiencing di i i h d operating cash fl
is i i diminished ti h flows andd
depreciated collateral values. Not withstanding their deteriorating financial conditions, many of these
borrowers are still credit-worthy and have the desire and willingness to repay their debts. In
performing an economic analysis of borrower, guarantor and collateral property, our systems are
designed to identify the most appropriate course of action for the best interest of both lender and
borrower.
Analysis of borrower financial condition, including review of
payment history and borrower financial capacity
Review of cash flow generated from the collateral property as
Borrower
well as the business operations
Analysis
Analysis of current market conditions and the potential impact
to borrower cash flow and ability to make timely payments
Analysis of guarantor financial condition and willingness to
Analysis of provide support if necessary
Financial Guarantor
Documents Analysis
Verify that Guaranty document language is sufficient to
repayment of indebtedness during the remaining loan term
Review of any collateral valuations to verify that assumptions
and conclusions are reasonable
Collateral
C ll t l
Analysis
Utilize CAM Loan Servicing’s broker network to provide
collateral valuations (BOVs) and to support workout activity
9
10. Financial Institution
Bond Portfolio Management
GNMA PORTFOLIO-A Fund Performance-Risk-Tracking
GNMA PORTFOLIO‐A
Fund Bench. BAIF OEF ASSET BACKED US
Mean Return 1Y Weekly 6.16 7.73
Total Return 3M 0.18 -- 1311
Total Return 6M 2.84 --
1188.4
Total Return 1Y 5.89 --
Total Return Ytd 5.56 -- 1065.8
Perf 2008 8.36 2.48
Perf 2007 6.68 5.82 943.2
Perf 2006 3.81 4.35
Perf 2005 2.14 -- 820.6
Perf 2004 3.46 -- 698
Perf 2003 2.72 --
10 Nov 99
10‐Nov‐99 10 Oct 01
10‐Oct‐01 10 Sep 03
10‐Sep‐03 10 Aug 05
10‐Aug‐05 11 Jul 07
11‐Jul‐07 10 Jun 09
10‐Jun‐09
Sector Allocation
4.23% Asset Allocation 4.24% 1.46% 3.17% 0.48%
6.83%
6 83% 2.94%
Agency Collat CMO
Agency Collat PAC CMO
Government
23.79% FGLMC Collateral
Money Market
FNMA Collateral
71.96% Mortgage
o tgage GNMA Collateral
57.09% GNMA2 Collateral
Sovereign
10
11. Financial Institution
Investor Reporting/Collateral Summary
CREMAC Asset Management recognizes that lending is the XYZ FUND, INC. CRMAC Asset Management Collateral Summary
principle business activity for most commercial banks. The XXXXX XX STREET BROOKLYN, NY
Loan Portfolio is typically the largest asset and revenue PROPERTY and Borrower INFORMATION
source, but also the greatest source of risk. Property Type:
Property Sub‐Type:
Multifamily
Apartment Building
Lien Type:
Loan Origination Date:
Senior
4/30/2006
Sponsor:
Borrower:
John Doe
JD Investments
# of Units: 57 Loan Aqcusition Date: 4/30/2006 Loan Assumable: Yes
y, S a e
City, State: New York, NY
, Acquisition/Refinance:
qu s o / e a e Acquisition
q Carve Out Guarantor:
a e Ou ua a o j
john Doe
Loan portfolio management is the process by which risks
L tf li t i th b hi h i k Year Built, Renovated: 1935 Lock Box: No Cash Mgmt/Sweep: No/No
inherent in the credit process are managed and controlled. Loan Information
Identifying credit risk issues before they become problems is Note Holder
Original Loan
Balance
Curr Loan
Balance
Current Int Origination Maturity
Rate Date
Orig
Date Appraisal $
Orig
LTV Index Margin
fundamental to banks’ safety and soundness. Senior ABC BANK 6,500,000 6,250,000 6.22% 4/30/2006 5/1/2036 9,900,000 65.66% 1 Year T Bill 2.30%
Property Operations
CREMAC’s proprietary loan portfolio management system Property Statistics
Actual
2006
Actual
2007
Actual Issuer U/W
2008 NCF
Per
Unit
Unit
Type
No. Of
Units
Avg.
SF
In Place
Rent
Adjusted
Market Rent
%
Occupied
focuses on the identification and management of risk among Occupancy
O 85.0%
85 0% 86.5%
86 5% 89.0%
89 0% 85.0%
85 0% 1 Bedroom
1B d
2 Bedroom
38
15
900
950
1275
1800
1365
1925
84%
100%
XYZ FUND, INC. CRMAC Asset Management Collateral Summary
groups of loans, and highlights elements that are of greater Base Rent $998 $1,008 $1,018 $998 $18 3 Bedroom 4 1050 2350 2450 100%
risk on an individual loan basis.
Other Income $45 $45 44 $45 $0.80 Total/Avg 57 967 1,808 1,913 89.33%
XXXXX XX STREET BROOKLYN, NY
Vacancy Loss $41 $37 21.20 41.00 $0.72 Property Narrative
Total Revenue $1,002 $1,016 $1,041
Year $1,002 $17.58Year 1
The property has seen a significant revitalization over the past few years. The local submarket
Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
RE Taxes and insurance $185 $183 179.5 Beginning
Period $185 $3.24 contains 40M households as of 2008, with an average household income of $39M compared to $64M 1/1/2015
1/1/2009 1/1/2010 1/1/2011 1/1/2012 1/1/2013 1/1/2014 1/1/2016 1/1/2017 1/1/2018
Operating Expenses $192 $190 186.6 Ending $192
Period $3.37 for the nation. Contractual rents to the property, which average $1,808 per unit per month are set to
12/31/2009 12/31/2010 12/31/2011 12/31/2012 12/31/2013 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018
NOI $625 $642 Revenue $625
$675 $10.97 be 5.4% below market rents. CREMAC's analysis indicates market rents to be approximatly $1,365 for
XYZ FUND, INC. CRMAC Asset Management Collateral Summary Capital Expenditures $3 $3 Base Rent
$3.3 3.35 $0.06 1 bedroom apartments, $1,925 for 2 bedroom aprtments and $2,450 for 3 bedroom apartments based $1,169,591.75 $1,192,983.58
$1,038,564.00 $1,059,335.28 $1,080,521.99 $1,102,132.43 $1,124,175.07 $1,146,658.58 $1,216,843.25 $1,241,180.12
Parking Income $40,970.00 $41,994.25 $43,044.11 $44,120.21 $45,223.21 $46,353.79 $47,512.64 $48,700.46 $49,917.97 $51,165.92
NCF $622 $639 $672 & Vending $622
Laundry & Vending
Laundry
$10.91 $3,615.00 rental listings for comparable apartments in $3,892.96 buildings. The Properties' general
on broker rental listings for comparable apartments in market rate buildings. The Properties general
on broker $3,705.38 $3,798.01 market rate $3,990.28 $4,090.04 $4,192.29 $4,297.10 $4,404.53 $4,514.64
XXXXX XX STREET BROOKLYN, NY
XXXXX XX STREET BROOKLYN NY
Other Income $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
partners report a net worth of $1.1B and $80MM liquidity as of 6/30/2009, which will be the the $0.00 $0.00 $0.00 $0.00
Vacancy Loss $37,409.83 $33,152.26 $28,684.39 $23,998.89 $19,088.20 $13,944.53 $8,559.85 $2,925.89 $0.00 $0.00
recourse carveout guarantor of the loan.
Appraised Value/Per Unit/ Date $8,000,000 $140,351 4/21/2008
CREMAC Value/Per Uit/Date $7,250,000 Effective Gross Income
$127,193 4/25/2008 $1,045,739.17 $1,071,882.65 $1,098,679.71 $1,126,146.70 $1,154,300.37 $1,183,157.88 $1,212,736.83 $1,243,055.25 $1,274,131.63 $1,305,984.92
Operating Expense
Real Estate Taxes $180,348.21 $184,856.92 $189,478.34 $194,215.30 $199,070.68 $204,047.45 $209,148.64 $214,377.35 $219,736.79 $225,230.20
Property Insurance $38,271.14 $39,227.92 $40,208.62 $41,213.83 $42,244.18 $43,300.28 $44,382.79 $45,492.36 $46,629.67 $47,795.41
Utilities $90,450.00 $93,163.50 $95,958.41 $98,837.16 $101,802.27 $104,856.34 $108,002.03 $111,242.09 $114,579.35 $118,016.73
Repairs and Maintenance $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Janitorial $15,062.50 $15,439.06 $15,825.04 $16,220.67 $16,626.18 $17,041.84 $17,467.88 $17,904.58 $18,352.19 $18,811.00
Management Fees
Management Fees $22,671.86
$22 671 86 $23,238.66
$23 238 66 $23,819.63
$23 819 63 $24,415.12
$24 415 12 $25,025.49
$25 025 49 $25,651.13
$25 651 13 $26,292.41
$26 292 41 $26,949.72
$26 949 72 $27,623.46
$27 623 46 $28,314.05
$28 314 05
Payroll & Benefits $20,083.33 $20,585.42 $21,100.05 $21,627.55 $22,168.24 $22,722.45 $23,290.51 $23,872.77 $24,469.59 $25,081.33
Advertising & Marketing $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Professional Fees $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
General & Administrative $1,004.17 $1,029.27 $1,055.00 $1,081.38 $1,108.41 $1,136.12 $1,164.53 $1,193.64 $1,223.48 $1,254.07
Other Expenses $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Ground Rent $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Tenant Improvements $2,535.52 $2,598.91 $2,663.88 $2,730.48 $2,798.74 $2,868.71 $2,940.43 $3,013.94 $3,089.29 $3,166.52
Capital Reserves $1,205.00 $1,235.13 $1,266.00 $1,297.65 $1,330.09 $1,363.35 $1,397.43 $1,432.37 $1,468.18 $1,504.88
Total Expenses $371,631.74 $381,374.78 $391,374.97 $401,639.13 $412,174.30 $422,987.67 $434,086.64 $445,478.82 $457,172.00 $469,174.20
Net Income $674,107.43 $690,507.86 $707,304.74 $724,507.57 $742,126.07 $760,170.21 $778,650.19 $797,576.43 $816,959.63 $836,810.73
Loan Principal Payments $107,646.55 $114,536.38 $121,867.20 $129,667.24 $137,966.50 $146,796.92 $156,192.54 $166,189.50 $176,826.35 $188,143.99
Loan Interest Payments $385,715.57 $378,825.74 $371,494.92 $363,694.88 $355,395.62 $346,565.20 $337,169.58 $327,172.62 $316,535.77 $305,218.13
Prepayment Penalties $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Asset Managers Fee $62,500.00 $62,500.00 $62,500.00 $62,500.00 $62,500.00 $62,500.00 $62,500.00 $62,500.00 $62,500.00 $62,500.00
Net Cash Flow $118,245.31 $134,645.74 $151,442.62 $168,645.45 $186,263.95 $204,308.09 $222,788.07 $241,714.31 $261,097.51 $280,948.61
11
12. Financial Institution
Collateral Valuation Summary
XYZ FUND, INC. CRMAC Asset Management Collateral Summary
Residential Loans Valuation Summary
CASH FLOW SUMMARY
Investment Year Year 1 Year 2 Year 3 Year 4 Year 5
Dates 2008 2009 2010 2011 2012
Cash Out (6,401,410) (1,282,601) (11,193) 0 0
Cash In 0 8,997,937 84,069 0 0
Net Cash Flows (6,401,410) 7,715,336 72,876 0 0
Cumulative Cash Flows (6,401,410) 1,313,926 1,386,802 0 0
Peak Negative Cash Flow (6,401,410)
Most of the developments that improve loan
Peak Negative Cash Month 5
INVESTMENT SUMMARY
% of UPB
% of Orig.
Value
% of CREMAC
Curr. Value
% of Liq.
Value
portfolios’ liquidity have implications for
UPB
Loan Count
15,071,347.99
49.00
100.0% 81.11% 140.96% 165.95% price/value risk. Traditionally, most bank
Average UPB 307,578.53
XYZ FUND, INC. CRMAC Asset Management Collateral Summary portfolios are “Held-to-Maturity” and
Collateral V l
C ll t l Value
Origination BPO Value 18,581,600.00 123.29%
Multi Family Valuation Summary accounting d t i
ti doctrine requires b k value
i book l
Updated Tape Value
HPD-Adjusted Value
Property Name
18,581,600.00
10,692,000.00
XYZ
123.29%
70.94%
For the Year Ending March
100.00%
57.54%
2010 2011 2012 2013 2014 2015 2016
accounting treatment.
CREMAC Current Value 10,692,000.00 70.94% 57.54%
Poperty Address XYZ Boulevard
Effective Gross Income: $1,045,739 $1,071,883 $1,098,680 $1,126,147 $1,154,300 $0 $0
However as banks deleverage and develop
Liquidation Value (NPL) 9,082,005.46 60.26% 48.88% 84.94%
Liquidation Value (PL)Number of units 0.00 57 0.00% 0.00% 0.00%
Total Liquidation Value 9,082,005.46
45,600.00 60.26% 48.88% 84.94%
more active portfolio management practices
Sqaure Feet: Operating Expenses: $367,182.72 $376,814.54 $386,700.72 $396,848.03 $407,263.42 $0.00 $0.00
CREMAC Price
Price: (5,707,519.48)
$8,447,694.34 -37.87000% -30.72% -53.38% -62.84%
Cash Flows
Price Per Unit:
Price Per SF:
$148,205.16
$3.25
NOI: $678,556.44 $695,068.11 $711,978.99 $729,298.67 $747,036.96 $0.00 $0.00
loan portfolios will become increasingly
Liquidation ExpensesCap Rate:
(NPL)
Cap Rate:
Liquidation Value (NPL)
(1,987,684.12)
(1 987 684 12)
9,082,005.46
8.00% 13.19%
8 00% -13 NOI Percent Increase
19%
NOI Percent Increase
60.26%
N/A 2.43%
2 43% 2.43%
2 43% 2.43%
2 43% 2.43%
2 43% 0.00%
0 00% 0.00%
0 00%
sensitive to price risk As assets are placed
risk.
in a “Held-for- Sale” account, they must be
Carrying & Liquidation Costs (PL) 0.00 0.00%
Leverage: 70% $5,913,386 Capital Exp From Reserves: $1,205.00 $1,235.13 $1,266.00 $1,297.65 $1,330.09 $0.00 $0.00
Principal & Interest Proceeds (PL) 0.00 0.00%
Interest Rate: 5.50% $322,407 0.00%
Net Capital Expenses: $1,205.00 $1,235.13 $1,266.00 $1,297.65 $1,330.09 $0.00 $0.00
re-priced at the lower of cost or market.
Liquidation Value (PL) 0.00
Amortization:
Liquidation Sales Discount (PL) 0.00 25 0.00%
Constant / Annual debt Service:
Net Liquidation Proceeds 7.37%
7,094,321.34 $435,760.32 47.07%
Asset Management Fee: $84,477 $84,477 $84,477 $84,477 $84,477 $0 $0
Profit Equity 1,386,801.86
30% $2,534,308.30 9.20%
Cash Flow Before Debt Servi $594,080 $610,591 $627,502 $644,822 $662,560 $0 $0
IRR 25.00% 0.00%
CREMAC Asset Management is the premier
industry choice for third-party mortgage
Profit Margin % of: Margin %
Interest Debt Service $322,407 $316,013 $309,258 $302,123 Month $294,584 $0 $0
CREMAC PRICE (5,707,519.48) 24.30% Peak Negative 5
Return Analysis Cash on Cash ROE IRR Total Return
Peak Negative Cash Flow (6,401,410.24) 21.66% Break Even 14
Total Cash Out 1 year
1 year 6.25%
6 25% 10.72%
10 72% 203 61)
(7 695 0 00%
0.00%
(7,695,203.61) 6.25%
6 25% Net Income
Net Income
18.02%
18 02% $271,672
$271 672 $294,578
$294 578 Loan Liquidation
Last $318,244
$318 244 $342,699
$342 699 28 $367,976
$367 976 $0 $0
asset services and comprehensive mortgage
2 Year 6.90% 11.62% 0.00% 13.15%
3 Year 7.57% 12.56% 0.00% 20.71% Principal Debt Service $113,353 $119,747 $126,502 $133,638 $141,176 $0 $0 analytics. Our services provide clients with
4 year
5 year
8.25%
8.95%
13.52%
14.52%
0.00%
16.18%
28.96%
199.73%
Cash Flow After Debt Service $158,319 $174,831 $191,742 $209,061 $226,800 $0 $0
industry standard solutions for the valuation
6 Year
7 Year
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Net Refinance Proceeds:
Sale Proceeds
$0
$0
$0
$0
$0
$0
$0
$0
$0
$4,100,911
$0
$0
$0
$0
and risk management services.
Cash Flow From Deal $158,319 $174,831 $191,742 $209,061 $226,800 $0 $0
Equity Asset Manager
Equity Split / Promote Partner Promote
Equity Investment
Equity Investment ($2,584,994)
($2 584 994) $0 Loan Origination fees
Loan Origination fees $0.00
$0 00 $0.00
$0 00 $0.00
$0 00 $0.00
$0 00 $0.00
$0 00 $0.00
$0 00 $0.00
$0 00
Cash Distribution $4,756,741 $285,261 Prepayment Penalties $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$2,171,746 $285,261 Principal Reduction: $113,353 $119,747 $126,502 $133,638 $141,176 $0 $0
Loan Balance $5,798,023 $5,678,276 $5,551,774 $5,418,136 $5,276,960 $0 $0
Residual Sale Proceeds $0 $0 $0 $0 $0 $9,379,881 $0
Total Net Cash Flow $158,319 $174,831 $191,742 $209,061 $4,327,710 $0 $0
Cumulative Net Cash Flow $158,319 $333,150 $524,892 $733,953 $5,061,664 $0 $0
12
14. CAM Loan Servicing
Loan Servicing and Servicing Support
CAM Loan Servicing handles the servicing of commercial real estate loans nationally
with a specific focus on default servicing. CAM’s comprehensive solution integrates
p servicing.
g p g
loan accounting, loan servicing, asset management, covenant compliance collection
support, borrower customer service and investor reporting.
reporting.
CAM Loan Servicing can also provide support to a client’s servicing platform through
a component servicing feature. Listed below are some of the key services provided
feature.
through component servicing:
th h t servicing:
i i
Economic Analysis
• Borrower Financial Analysis
• Guarantor Analysis
• Collateral Financial Analysis
Loan Abstractingg
Covenant Compliance
Commercial Real Estate Valuations (BOV)
Commercial Loan File Underwriting
Acquisition Pre & Post-Boarding Due Diligence
Post-
System to System Integration
Call Center Collection S
C ll C t & C ll ti Services
i
Inspection/Site Visits
Construction Completion
Develop Workout Strategies
Monitor Progress of Workout Plans
Foreclosure Management
Develop and Implement Vendor Management Procedures
Provide External Audit Support
14
15. CAM Loan Servicing
Collections – Call Center
Primary Functions:
Customer Service
In-
In-Bound Call Team: Answer Incoming calls
Manual Support Team: Research, correspondence, loan covenant compliance, collect
financial data
Collection processes are automated using various forms of technology to maximize
call penetration. CAM maximizes collection efforts by establishing specific criteria for
processing based on delinquency trends and individual account needs. Additional
client-
client-specific processes can be added, such as manual out-bound calls and warm
out-
transfers to clients’ staff.
15
16. CAM Loan Servicing
Property Valuation Service
CAM’s Commercial Broker Network and BOV Service
Recognizing that a large number of CRE offerings consist of collateral located in
secondary and tertiary markets which are not adequately covered by the large
d d i k hi h d l db h l
national brokerage firms, CAM developed a national network of CCIM designated
brokers in order to provide local market intelligence. Our network consists of over
1,350 CRE brokers covering over 15,000 zip codes. CAM has pre-qualified and
pre-
trained each broker to ensure that the highest quality value reports are obtained.
Each Broker’s Opinion of Value runs through CAM’s quality control process to ensure
a clear, concise accurate overview of the subject property and market location. CAM
realizes the importance of accuracy and knowledge when bidding distressed assets in
a competitive environment.
environment.
Broker’s Opinion of Value
(BOV)
Marketability Valuation
Property D
P t Description
i ti Property
P t (Number of
(N b f (Current/potential
(C t/ t ti l
and Photos Condition listings/sales in area, income, cap rate, as-
potential resale is and repaired
issues, etc.) values, etc.)
Listing
Li ti Sales
S l Copy of County Tax
C fC t T
Comparables Comparables Record
(including photos) (including photos)
16
18. CREMAC Contact List
Advisory Services Loan Servicing Property Valuation Principal Transactions
Contact:
C t t Contact:
C t t Contact:
C t t Contact:
C t t
Muriel Brunken Colleen Jenkins Sherry Terry Michael Yanniello
718-222-4500 x123 718-907-3838 718-907-3838 718-222-4500 x146
Murielb@cremac.com Colleenj@camloanservicing.com Sherryt@cremac.com Michaely@cremac.com
18
