NPL, Notes & Default Servicing
Dana Point, CA
June 3 - 4, 2019

Description

IMN is excited to announce its 4th Annual NPL, Notes & Default Servicing Forum (West) is returning to Dana Point, CA this June 3-4. Last year's West Coast Forum welcomed 350+ Institutional NPL & Note buyers and service provider participants as well as 20+ exhibitors/sponsors. 

The program once again will feature Large Institutional Buyers, Mid-Sized Funds and Smaller private buyers, with scheduled networking activities to meet your educational and networking needs.

We look forward to seeing you in Dana Point in June!

Who Should Attend
  • Accounting
  • Bankers
  • Brokers
  • Econometric Services
  • Insurance
  • Law
  • Lenders
  • Mom & Pops/Fix & Flippers
  • Property Analytics
  • Property Auction
  • Property Broker
  • Property Management/Property Management Services
  • Rating Agencies
  • Single Family Investors
  • Single Family Owners/Operators
  • Service Providers/Vendors

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My Agenda

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Agenda

    Monday, June 3rd, 2019

      Banks & Mortgage Originators Working Out NPLs/Buy Loans

        • Pricing the sales of NPL’s in a market where future value of property is uncertain
        • How much debt are you planning on selling in the near future? What kind of notes and properties do you look to sell?
        • Which disposal road do you use? Do you dispose internally or outsource the function?
        • Any early pattern of defaults you are noticing?
        • Restructuring approaches
        • How to be approached by a note buyer

      Changing Regulatory Environment: What Note Buyers, Bank Workout and Default Servicers Need To Know

      • • What are some of the changes that have been coming out of the new congress? State government?
        • Lending space regulations
        • Legal issues facing longer term delinquencies
        • The structure of the GSEs
        • Property preservation requirements
        • Notes and opportunity zones: What you should know
        • Implications of new tax law for note investors
        • The CSFB and new regulations pertaining to servicing Anything note buyers need to know?
        • Changes in the federal regulatory landscape for mortgage origination and servicing
        • State law changes: Sunset/replacement for the California Homeowner Bill of Rights
        • HOA lien priority issues

      Large Institutional Players: How Are Your Strategies Changing As The Expensive Gets More Expensive And The Scarce Gets More Scarce?

      • • Working with and joint venture partners: What are you looking for?
        • What do you see for the future of the market?
        • Risk management best practices
        • Are politics impacting the way you invest?
        • Securitization: Do you securitize your notes? Invest in securitized paper?
        • Due diligence on a portfolio level
        • What is your NPL/RPL buying strategy?
        • Tenants and toilets: When do you go REO?
        • Asset management and servicing: What are your latest initiatives? Outsource or keep in-house?
        • How does your view on the economy and interest rates influence your strategy?

      Macroeconomic Outlook and Implications for the Residential Mortgage Market

        • How are you preparing for a downturn? Rising rate environment?
        • What should a note buyer know about demographic changes
        • Note supply factors
        • Is there a small servicer shake out underway? What is the impact?
        • National housing policy issues to consider
        • Should you begin to sell off assets into this strong market?
        • Current market liquidity

      Working With Not-For-Profits

        • What is your note/NPL strategy?
        • Community impact pool: How are you working with the GSEs?
        • Joint ventures with note buyers and sellers: What do they look like?
        • Loss mitigation strategy
        • Is the end game home ownership?
        • How much are you acquiring?
        • Do you use the federal government for supply?
        • Role in neighborhood stabilization
        • Funding sources
        • Partnering with Municipalities 

      The Future of the NPL Market-What Forces Can Greatly Alter The Status Quo?

        • 2020, the political climate and the rise of populism
        • Interest rates and the economy
        • The global markets
        • Strength and depth of the servicing market
        • Rise of the institutional REO market
        • Increase in natural disasters
        • What changes that seemed to be in the future are already here?
        • What to know about “Generation I”

      Buy To Hold Vs. "Buy-Reperform-Resell” Vs. REO

        • Do you have different buckets for different products?
        • Have you transferred from one strategy to the other? Why?
        • Do you incorporate different strategies in different locations?
        • Dealing with servicers vs. property managers; Owners vs. renters
        • Creating Notes: Transforming REOs to notes and lending to institutional REO buyers

      Quantifying, Assessing & Managing Note Default Risk

        • Review at acquisition
        • Pricing risk
        • Risks unique to different product types
        • Evaluating the buyer vs. the loan
        • What have you tweaked regarding your risk standards?
        • What functions have you brought in-house to decrease risk?
        • Follow up practices
        • Curing title issues
        • Vendor management: What do you look at while on-sight? 
        • Do you use 3rd-party diligence providers?
        • Senior status

      Firsts vs. Seconds Market: What Is The Risk/Pricing/Yield You Are Looking For?

        • Non-performing/performing/re-performing 1sts vs. 2nds
        • Considering the amount of equity
        • State considerations
        • Regulatory considerations
        • Getting wiped out
        • What is found during the due diligence stage that can get you in trouble
        • When do you buy the first and the second?

      Re-Performing Notes: Pricing, Volume, Supply/Demand & Other Key Market Trends

      • • What are the pools from the government looking like?
        • First vs, Second liens
        • What will it take for prices to go the other way?
        • When do you securitize? When is securitization not the best approach?
        • Valuation drivers and methods
        • Deferred balance issues
        • The management side of things
        • Re-default strategy

      Neighborhood vs. National-Which Way To Go?

      • You are getting bigger and valuations are getting tighter… Does it pay to expand the range of your note knowledge from local to national? What kind of legal and regulatory information do you need? What kind of returns can you make? This session will debate if the grass is always greener.  

      Generating High Returns In The Low Balance Market

      • • Defining the market
        • Origination dates you look for
        • Evaluating the low balance first market
        • Notes on low value properties
        • Pricing and valuation: Do BPOs usually overstate the value?
        • Since it takes as much blood, sweat and tears to work out a high value loan as a low value loan why do it?

      Commercial vs. Residential Loan Investing

      • • Where are you finding commercial notes today?
        • Multifamily, construction, owner and non-owner occupied loans: Where is the relative value today?
        • Mortgage vs. non-mortgage commercial notes
        • Comparing cure methodologies
        • Residential vs. commercial bankruptcy
        • Risks and advantages of performing vs. non-performing Servicers out there
        • Loan to flip vs. loan to own

      Growth Decisions… Getting to 20 Million

      • (Closed-Door Pre-conference discussion for note buyers only) • Where are the hot spots?
        • Is Puerto Rico international?
        • Macroeconomic, legal and political overview of countries with high levels of NPLs
        • How is the global NPL market changing?
        • European banking authority role
        • Bad bank/Good bank approaches
        • Improving liquidity through government guarantee schemes
        • Role of securitization
        • The international servicing market

      Measuring Market Volatility

      • • What are the causes of volatility in the note and NPL market?
        • Dealing with 75 basis point swings
        • Which sectors are more sensitive to swings?
        • Deal re-pricing: How much damage?
        • Volatility vs. other mortgage products
        • Do you think volatility will lessen considering the current Fed policy?

      Buying From The Hedge Funds

      • • How are you finding the hedge funds?
        • What kind of prices are they looking for? Structure?
        • Pool composition
        • Do they think they are smarter than you?
        • Why were the selling?
        • If you can’t beat them, join them-The joint venture options

      Retrades

      • • NPL vs. REO re-trades
        • What are your pre-qualification standards?
        • Prevention strategies
        • From the special servicer/lender perspective
        • Adding the most value
        • What are the issues that cause a price reduction?
        • Risks and timelines
        • What kind of missing information results in a re-trade?
        • Highlighting the hidden opportunities
        • Compressing the due diligence time frame

      Acquisitions, Due Diligence & Pricing-Impact of Time/Capital/Desired ROI/Exit Strategy on Price

      • • Are you acquisitions standards changing due to the lack of supply?
        • What kind of discounts are currently out there for the paper you are looking to buy?
        • Servicer sales: What is available?
        • Securitized markets
        • The liquidation strategy
        • Getting a non-performer to perform
        • Compliance and due diligence review checklist-What are the latest additions?
        • What is the latest change in your acquisition strategy?
        • Acquiring firsts vs. seconds

      Alternative/Non-Traditional Acquisition Sources

      • • Using data mining to find product
        • The judicial foreclosure market
        • Keeping your ear to the ground: Can you find business among friends, family and business associates?
        • The pre-settlement funding market
        • Bankruptcy trustees as a source

      Buying & Selling… Large vs. Small Bulk Buying vs. Individually in High Numbers

      • • Making sure you have no kick outs
        • What kind of sellers do you want to work with?
        • Structuring reps and warrants
        • Technology and automation available
        • Making sure the price is right- The assets overview, factors involved: 1sts & 2nds
        • When to start asset level review? What buyers are looking for in due diligence that sellers needs to be prepared for?
        • Dirty pools and major defects: Pricing, curative actions, timeline to successful resolution

      Acquiring & Managing For Institutional Investors

      • • Compensation and fees
        • Management agreement: What should be present?
        • LLC vs. limited partnership and other entity-level challenges
        • Lessons learned, advantages and disadvantages of working with
        • What are some of the mistakes that you have helped institutions avoid?
        • What happens when an institution has two+ agents in a market? What happens when you both bid on the same loan?
        • How is your venture structured? How are you paid?
        • Taking the next step… Joint ventures
        • What is the typical volume and transaction size for these structures? How many AUM per vehicle?  What are the metrics-cost per note, cash yield per property, expense ratio per property?

      Finding Distressed Product

      • • Sources of acquisitions
        • Properties damaged by natural disaster
        • Pricing: Can you buy and make a profit?
        • Picking neighborhoods soon to rebound: What are the factors you look at?
        • Buying for rental portfolio vs. a quick flip
        • Buying the paper to get at the property
        • Leaning towards liens?
        • The government channel? The tax lien market?  
        • City-owned land banks and working with not-for-profits
        • What kind of kick outs are you curing that others aren’t?

      Acquiring From The Government

      • • The politics of the market: Any impact?
        • How much debt are you planning to sell?
        • Looking at the latest HUD sales
        • Trickle down sales: What is coming from the institutional buyers
        • Any changes on reps and warranties?
        • Do you expect the recent natural disasters will add to the supply?
        • The focus on community impact pools and stabilization… How has that changed things?
        • Due diligence: How much time, money and effort did it take?
        • Evaluating pool quality and time to resolve: Was it as advertised and expected
        • What’s the remaining supply & how do you see that being brought to the market in 2018 &2019?  

      Financing: Using Equity And Debt

      • • Sources of debt
        • Hypothecation: Any new wrinkles
        • Securitization and what investors are demanding
        • What’s out there for the bigger and little guy
        • The repo market, HELOCs, bridge financing & letters of credit: When do you use?
        • Where do you get your equity from?
        • Joint ventures with other investors to buy pools 
        • Crowdfunding and other alternative funding sources
        • Using partials to finance additional paper

      Curing Problematic Loans-Evaluating Time, Effort and Brain Damage Necessary

      • • Working with municipalities to cure • Code enforcement
        • Addressing liens
        • Property taxes vs. water liens
        • Working with HOAs
        • Issues during foreclosure that are overlooked and cause problems
        • Fraud-related problems and solutions
        • How much do you make on the sale?
        • Finding missing documents
        • What kind of work do you outsource? Do yourself?

      Best Practices in Managing the Servicer/Subservicer/Asset Manager/ Note Owner Relationship

      • • How do you know you have a fit?
        • Servicing transfers: Best practices for note buyers
        • Smaller servicer financial strength
        • Servicing valuations
        • Managing risk exposure on a loan, entity and industry level
        • The servicing industry-macro issues
        • Talking to the buyer: What kind of regulations do I need to pay attention to?
        • In what kind of situations are servicers taxed above their bandwidth?
        • The latest natural disasters: What went down and what was learned
        • The next downturn…

      Portfolio Management: What Are The Best Practices & Carrying Cost Minimization Strategies?

      • • When is self-insurance the way to go?
        • What goes to the services? What stays in-house?
        • Statements and reporting
        • Technology and software solutions
        • Once a client get behind payments…
        • Insourcing, outsourcing & staffing your portfolio management team
        • Performance management and reporting
        • Compliance management

      Outsourcing vs. In-house

      • • What are some of the functions that you outsourced? Insourced?
        • How much time did you free up by outsourcing? What were some of the things that you did that made your company more money?
        • How much time did you need to allocate to manage the outsources
        • Onboarding strategies
        • What do you think it is important to manage internally?
        • Outsourcing as part of your scaling strategy

      Default Rate Drivers

      • • How much is just the economy? Job loss? Medical?
        • How did the 2nd quarter go? How is the 3rd quarter looking?
        • Default patterns in your portfolio: What are you seeing?
        • Default profile vs. prior cycles
        • Impact of equity in house
        • Post default recovery influencers
        • Modification and re-default recovery drivers

      Which Modification And Workout Strategies Will Keep You Out Of Court And Results In The Best Future Cash Flow?

      • • When is foreclosure your goal?
        • Modifications done quickly vs. those that string things out… Considering the time value of money
        • What should you do? The servicer?
        • Making the payments affordable: What kind of terms do you offer?
        • Best Ex when non-foreclosure alternatives run out
        • Cash for keys, leasebacks, forbearance agreements, deed-in-lieu and other non-foreclosure options
        • Managing pre-foreclosure REO
        • Mediations, settlement conferences and loss mitigation hearing: Which has you had the most success with?
        • The threat of foreclosure: Does it work?
        • Working with not-for-profits

      Legal Recovery Best Practices For Creditors: Foreclosure/Bankruptcy/Chapter 11 In Judicial, Quasi-Judicial & Non-Judicial States

      • • When do you put a property in foreclosure
        • Working with multiple lenders
        • When do you put a property into foreclosure? What is the cleanest process?
        • Firsts and seconds
        • Changing foreclosure laws you should be aware of
        • What do you do when the borrower declares bankruptcy? 
        • Countering delaying tactics
        • Vacant vs. occupied properties

      Regulators Panel… What Are Your Hotspots: Recent State & Federal Litigation & Legislative Changes

      • • Where have licensing requirements recently changed? Physical presence requisites?
        • Any updates on the judicial side? Does judicial equate longer foreclosure times?
        • RESPA and FDCPA compliance
        • Non-Bank regulatory update: What does a note holder need to know?

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Venue

  • Conference Venue
  • Monarch Beach Resort


    1 Monarch Beach Resort
    Dana Point, CA, 92629
    USA

    Additional Info:

    Please use the link above to make a reservation in our group room block, pending availability, until our cutoff date of Friday, May 3rd.    A one (1) night room and tax deposit is required at time of booking. Cancellation is 30 days prior to arrival and any cancellation within 30 days will forfeit the aforementioned deposit and is non-refundable.

1120 Avenue of the Americas, 6th Floor, New York, NY 10036
Tel: +1(212)901-0506 Fax: +1(212)768-2484
Email: mail@imn.org


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