NPL, Notes & Default Servicing
Dana Point, CA
June 3 - 4, 2019
1120 Avenue of the Americas, 6th Floor, New York, NY 10036
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
- Econometric Services
- 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
Searching By Name/Company
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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
Large Institutional Players: How Are Your Strategies Changing As The Expensive Gets More Expensive And The Scarce Gets More Scarce?
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?
Generating High Returns In The Low Balance Market
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
Buying From The Hedge Funds
Acquisitions, Due Diligence & Pricing-Impact of Time/Capital/Desired ROI/Exit Strategy on Price
Alternative/Non-Traditional Acquisition Sources
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
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
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
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
Regulators Panel… What Are Your Hotspots: Recent State & Federal Litigation & Legislative Changes
To register for this conference you must be signed in
- Super Early Bird Registration - $1,595
- Early Bird Registration - $1,695
- Standard Registration - $1,895
- On-site Registration - $1,995
- Conference Venue
Monarch Beach Resort
1 Monarch Beach Resort
Dana Point, CA, 92629
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.
Tel: +1(212)901-0506 Fax: +1(212)768-2484
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