A10 Capital, a firm specializing in loan workouts and alternative commercial real estate lending, has established a group to provide loan workout, real estate owned (REO) asset management and other related services to banks with troubled credits.
‘A10 is one of the only firms with a dedicated troubled loan service team to assist small to medium-sized banks,’ says the Solutions Group's head, Dale Conder, who formerly oversaw KeyBank's Western Asset Recovery Group. "Most banks of this size do not have the in-house staff to handle loan workouts, which are becoming more prevalent in today's markets. Many banks are taking salespeople off the line who are not experienced at resolving complex troubled credits."
Advisory-based services offered by A10 include loan workout consulting and turnkey asset management for REOs. The company says its asset management team provides property management oversight, leasing and sales oversight, accounting/reporting/analysis, legal oversight and regulator analysis, among other functions.
The Solutions Group will also offer proactive loan monitoring and a program to sell loans that may be causing regulatory or reserve constraints for banks.
A10 adds that it has raised over $100 million in capital over the past two years to assist regional banks with troubled credits and commercial real estate investors with distressed properties.
Capital-based services offered by A10 include direct note purchases, funding for declined or maturing loans, and financing for REO purchases.
SOURCE: A10 Capital