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3 episodes with chief credit officer
3 episodes with chief credit officer
3 episodes with chief credit officer
3 episodes with chief credit officer
6 episodes with chief credit officer
2 episodes with chief credit officer
2 episodes with chief credit officer
2 episodes with chief credit officer
2 episodes with chief credit officer
Sandi Burns, Chief Credit Officer at Manulife Bank, discusses the increasing prevalence of mortgage fraud, particularly in Atlantic Canada. She highlights "fraud for shelter," where individuals alter documents to qualify for mortgages, and "fraud for profit," involving organized crime. The conversation also touched on the importance of regulatory compliance and the evolving landscape of mortgage fraud.
Todd and Clinton are joined by Sandi Burns, Chief Credit Officer at Manulife Bank, to discuss her role in setting mortgage guidelines and managing the lending portfolio. She highlights Manulife's unique mortgage product, the Manulife One, which combines a checking account and mortgage, allowing customers to pay down their mortgage faster. Burns also notes the impact of economic uncertainty on consumer confidence, particularly in the residential market, and the rise in non-mortgage debt.
This week on The Art of SBA Lending, we're sitting down with a true SBA powerhouse: Kirk Beeson, SBA Managing Director at Veritex Community Bank, and former Chief Credit Officer (and so much more!) at Fund-Ex Solutions Group. Ray Drew and Kirk take a deep dive into the inside story of Fund-Ex: from its promising start-up days to navigating the chaos of PPP and the eventual sale. What does it really take to build an SBA shop from the ground up? How do you maintain culture while scaling at lightning speed? And when do you know it's time to step away?
If you've ever felt like the bank just doesn't get how construction works, you're not alone.Every contractor has heard it: “Great project…
Welcome to Connect, a podcast featuring one-on-one interviews with some of the top movers and shakers in the mortgage industry. This week we welcome Anthony Ho, Managing Director and Chief Credit Officer, Amerihome Mortgage Episode discussion timestamps: 1:39 - Tell us how you got into this business. 3:18 - 2025 hasn't started at the pace I think many lenders were hoping for. What do you anticipate volumes will be like for the balance of the year? 4:31 - How can lenders stay competitive in a challenging market? 6:41 - What are your thoughts on the use of AI in the mortgage industry? 10:32 - Can you share with our listeners why you chose to support our organization? To learn more about the California MBA, visit cmba.com
Elena Duggar, Managing Director and Chief Credit Officer for the Americas at Moody's Investor Services, joins the show to unpack the sovereign credit ratings process, the challenges shaping the industry, and the future of credit ratings.
Sarah Carlson is joined by the lead analyst for the US, William Foster, and Chief Credit Officer for the Americas, Elena Duggar, to discuss their expectations for fiscal, trade and immigration policy under both US presidential candidates, and what they could mean for the US economy and credit.Speakers: William Foster, Senior Vice President at Moody's Ratings; Elena Duggar, MD-Credit Strategy at Moody's RatingsHost: Sarah Carlson, Senior Vice President at Moody's Ratings
Peter Gleysteen, Founder, CEO & CIO at AGL Credit Management joinsyour host Brian Bejile, CEO of Octaura on The Ramp Up. Peter is a legend in thestructured credit industry, successfully navigating every economic cycle andmarket crisis since his career began in 1975. Pulling from his uniqueupbringing, Peter has honed the ability to shed a different perspective throughouthis career – leading him to launch innovations that laid the foundations of howtoday's loan market operates. With experience starting not one, but two buysideshops, Peter is an incredible wealth of knowledge. About PeterPeter Gleysteen is the Founder, CEO, and CIO of AGL Credit Managementwhich he established with the support of Abu Dhabi Investment Authority. AGLcreates and manages corporate credit investments including CLOs and privatecredit with managed assets of $16 billion.Gleysteen has over four decades of credit and management experienceand successfully navigated every economic cycle and market crisis since hiscareer began in 1975. Gleysteen's prior two employers were JPMorgan Chase &Co. and CIFC Asset Management.At JPMorgan Chase, and antecedent entities Chemical Bank and ChaseManhattan, Gleysteen was the lead banker on many of the largest LBO, M&A,and Restructuring financings in the 1980s and 1990s. He ran global loansyndications as Group Head of Global Syndicated Finance, was responsible forthe global corporate loan portfolio as Group Head of Global Capital Management,and then served as the Chief Credit Officer.Gleysteen was integral to the evolution of the bank loan asset classfrom inception, including making the first “B-Loan” in 1989 and conceiving andinstituting the “Market Flex” pricing convention in 1997.Gleysteen founded CIFC Asset Management in 2005 and managed it as CEOfrom inception to 2014 when it was sold. He served as Vice-Chairman and specialadvisor until 2016.Gleysteen formed AGL Credit Management in 2018 and launched it in2019. In 2024, AGL announced an exclusive private credit collaboration withBarclays Bank PLC.Gleysteen has a BA in History from Trinity College, a MBA, ExecutiveProgram, from the University of Chicago, and attended St. PetersburgUniversity, when Russia was the USSR. He is a member of the Council on ForeignRelations and a board member of Mystic Seaport Museum.
Host Phil Young chats with AgCredit's Chief Credit Officer, Josh McBride. Josh explains the benefits of grain inventory loans and also discusses revolving lines of credit and the differences between the two. Additionally, they talk about the Ohio Ag-LINK Loan Program and its benefits for borrowers. Show Notes: https://www.agcredit.net/news/episode-65-three-types-loans-your-grain-operation-josh-mcbride Connect with AgCredit on Facebook, X, and Instagram Share questions and topic ideas with us: Email podcast@agcredit.net
Ten-Mile Valley Community Prayer Breakfast ... GUEST Patrick O'Brien ... Executive Vice President and Chief Credit Officer, Dollar Bank. How to navigate social media in an Election Season ... GUEST Chris Martin ... director of content at Moody Radio ... author of two books about social media: “The Wolf in Their Pockets” and “Terms of Service”. GUEST Rev Dr Dean Weaver ... Stated Clerk of the Evangelical PresbyterianChurch ... co-founder and former president of EduNations. The Transfiguration when Jesus was transformed & Peter, James, John saw him talking w Elijah & Moses ... GUEST Frederica Mathewes-Green .. she's the author of "The Jesus Prayer: The Ancient Desert Prayer that Tunes the Heart to God," and "Welcome to the Orthodox Church: an Introduction to Eastern Christianity".See omnystudio.com/listener for privacy information.
Ten-Mile Valley Community Prayer Breakfast ... GUEST Patrick O'Brien ... Executive Vice President and Chief Credit Officer, Dollar Bank. How to navigate social media in an Election Season ... GUEST Chris Martin ... director of content at Moody Radio ... author of two books about social media: “The Wolf in Their Pockets” and “Terms of Service”. GUEST Rev Dr Dean Weaver ... Stated Clerk of the Evangelical PresbyterianChurch ... co-founder and former president of EduNations. The Transfiguration when Jesus was transformed & Peter, James, John saw him talking w Elijah & Moses ... GUEST Frederica Mathewes-Green .. she's the author of "The Jesus Prayer: The Ancient Desert Prayer that Tunes the Heart to God," and "Welcome to the Orthodox Church: an Introduction to Eastern Christianity".See omnystudio.com/listener for privacy information.
In this episode of Extra Credit, Danilo Rippa, Head of Multi-Strategy Credit at Man Group is joined by Kevin Marchetti, co-Head of Direct Lending and Chief Credit Officer, and Zeshan Ashfaque, Senior Credit Officer at Man Varagon. Private credit has grown significantly over the past decade, representing a secular shift in how companies access funding – and how investors are allocating to credit. This far-reaching episode offers insight into trends in lending, yields, syndication and how they may – or may not – be impacted by an uncertain economic environment. The world of credit is evolving. Gone are the days when investment grade bonds were only sold over the phone and the world of direct lending was a little-known niche. Corporates now have a multitude of ways to access capital and investors can diversify their credit allocation more than ever before. Extra Credit, the fourth season of our Long Story Short podcast, will explore the ways credit is changing and how it fits into your portfolio. Hosted by Danilo Rippa, Head of Global Credit Multi-Strategy and Global Convertibles at Man Solutions, this season will feature experts from across the credit investing spectrum.
Richard Hunter, Chief Credit Officer, and Justin Patrie, Head of Fitch Wire, dive into the latest Risk Headquarters report, outlining the main risks to global credit this quarter including real estate, geopolitics, China macroeconomics, and more.
Getting FP&A teams to harness their data to reach their goals is the holy grail. Nathan Bell, Managing Partner, VAi Consulting, is among the most in-demand experts. Bell has unique experience– having started in computer science, before leading finance teams at Native American Bank, Digital Media Trends and Gartner– where he advised hundreds of FP&A teams facing chaotic data situations). In this masterclass, he shares a practical framework looking at the expectations, fear and hype surrounding data, analytics and AI for FP&A teams. In this episode: From a computer degree to leading finance teams How Nathan discovered the power of telling stories as Chief Credit Officer at Native American Bank Overcoming the challenge of presenting to non- financially literate CEOs The challenge when finance is “last in line” When companies don't have good data and what FP&A teams can do “Federated data governance” and avoiding turf battles why setting up self-service data as CFO came back to bite me Using a “metrics cascade” clarifying data and metrics Critical thinking as the new superpower for finance teams in the AI age Key to setting up pilot AI programs Dinner time when your wife is also a CFO Key quotes: Remember PPDAC. Problem Plan, Data, Conclusion. Your Plan, what Data you need to capture against that plan, analysis, and Conclusion. “If you can master that in that order, I think from a skillset, you're, you're ready” – Nathan Bell. Critical Thinking as the new Superpower for FP&A “Critical thinking is gonna be more powerful than ever. I don't think there'll ever be a situation where we're going to let AI make the decision without going through a human to look at the data. We need to ask what do we do? What's the action? What's the decision?” Connect with Nathan Bell on Linkedin https://www.linkedin.com/in/nathan-bell-1038662/ https://vai-consulting.com/
Richard Hunter, Chief Credit Officer, and Justin Patrie, Senior Director, discuss the key themes of Fitch's recent 2024 Global Outlook report, including sustained elevated interest rates, asset quality deterioration, a US growth slowdown, and more.
Welcome to Part 2 of our State of Small Business Panel on The Art of SBA Lending Podcast with William "Bill" Woodard, Chief Credit Officer at T Bank, Jordan Hallam, Director of Government Guaranteed Lending at SouthState Bank, Nick Roach, President and CEO of Stone Bank. In this episode we cover which industries are hot right now, why you should be thanking your servicing teams, spikes in deal fall-outs and pay-offs, unpacking valuation gaps, and increased brandawareness of SBA since covid. Don't forget to subscribe to stay up to date with new episodes dropping every Thursday morning! Navigate this episode 1:55 Which industries are doing poorly and which are doing well right now? 5:12 What trends have you noticed from home improvement businesses born in the Covid era? 9:20 Giving credit and props to your servicing teams 11:15 Noticing a spike in pay-offs 14:25 Making revisions to origination based on analyzing your portfolio 17:41 Cautiously optimistic origination 19:20 Unpacking the valuation gap 21:52 Fragility of transactions and deal fall-outs in acquisitions 23:40 Construction industry insights 25:19 Increase in demand and brand awareness for SBA due to PPP 27:42 YOY SBA volume trends for 2023 29:04 One lesson you learned in 2023 32:12 Another one of Ray's games- what inning of this economic cycle are we in? 34:09 One thing to look forward to in 2024 This episode is sponsored by: Rapid Business Plans Rapid Business Plans is the go-to provider of business plans and feasibility studies for government guaranteed small business lenders. For more information, or to set up a Get Acquainted call, email Bethany McClellan at Bethany@rapidbusinessplans.com Lumos Data Lumos empowers your small business lending growth with cutting-edge analytics and streamlined applications that optimize your performance. If you're ready to take your small business lending to the next level with cutting edge analytics visit lumosdata.com.
Frank Rotman, Chief Investment Officer at QED Investors, makes his triumphant return to the podcast to share his wisdom on all things lending. As the first Chief Credit Officer at Capital One (before this role officially existed), Frank has an incredibly rich and nuanced perspective on topics like cashflow underwriting, the value of traditional credit data vs alternative data, and payment protection insurance. In this conversation, Frank and Alex break down the importance of distinguishing willingness to pay for a loan from the ability to pay for a loan when assessing creditworthiness and wax poetic about what possibilities fintech might be missing out on when it simplifies the credit building down to these two characteristics. And stay tuned because later, Alex asks Frank for his predictions for the future of fintech and financial services and Frank's answers are unlike any other predictions you've heard! 00:00:53 - From Lending to Writing: Frank's Journey 00:03:05 - The Nuance of Credit Underwriting 00:09:21 - Building Sophisticated Underwriting Models with Capital One 00:18:12 - Understanding Reg B: Equal Credit Opportunity Act Implementation 00:26:10 - Maximizing Accurate Pricing of Risk 00:29:49 - Why Companies Must Explain Declines 00:36:38 - The Unique Marvel of American Mortgages 00:49:10 - The Truth About Predatory Lending 00:55:18 - Innovating Credit and Insurance Delivery Sign up for Alex's Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/ And for more exclusive insider content, don't forget to check out my YouTube page. Follow Frank: LinkedIn: https://www.linkedin.com/in/frank-rotman/ Follow Alex: YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videos LinkedIn: https://www.linkedin.com/in/alexhjohnson Twitter: https://www.twitter.com/AlexH_Johnson
Welcome to the newest season of The Art of SBA Lending Podcast! This week we are kicking off with part-one of a fan-favorite, panel-style episode discussing the (surprising) state of small business. Our host, Ray Drew welcomes Bill Woodard, Chief Credit Officer at T Bank, Jordan Hallam, Director of Government Guaranteed Lending at SouthState Bank and Nick Roach President and CEO of Stone Bank. Listen to their takes on the state of small business and how it's not quite going the way we expected, managing relationships with borrowers that aren't communicating favorably and how to change that, deferment requests, protecting your bank and the benefits of meeting a borrower in person during the lending process. Remember to subscribe to our channel so you don't miss part-two! 2:15 introduction to the panel 3:45 The state of small business is ____ 6:01 How are small business borrowers doing right now? 8:13 Why the current state of small business is surprising us 9:40 Are borrowers more likely to inquire about deferment requests and concessions these days? 13:55 How the panel handles deferment requests, navigating isolated incidents and protecting your bank 22:12 Dealing with borrowers who don't communicate 24:19 Servicing the loans to enhance borrower communication post-close 28:08 Should lenders be providing ongoing financial analysis as a service for borrowers? 32:22 Should meeting borrowers in-person be the standard? 35:38 Importance of "character", intuition and site visits 41:45 Throwing good money after bad money. When a borrower needs working capital, what do we do? --------------------------------------------------------------------------------- This episode is sponsored by: Able Able is an a AI-powered deal acceleration platform that streamlines the most hated process in SBA lending: document collection and management. You can learn more about Able and schedule a demo by going to www.able.ai Lumos Data Lumos empowers your small business lending growth with cutting-edge analytics and streamlined applications that optimize your performance. If you're ready to take your small business lending to the next level with cutting edge analytics visit lumosdata.com
In this weeks can't-miss episode Ray sits down with his former boss, Mark Gibson, National Sales Manager at First Internet Bank . Ray first met Mark while working at Ready Capital- an experience in which Mark gives credit for preparing him for the difficult feat of starting and scaling a national SBA program to the top 10 the way that he did. Mark goes over some key aspects of what has made First Internet so successful, including the importance of a Chief Credit Officer, staying one step ahead, and communication with your staff. Listen in to hear more about his experience and how First Internet solidified its spot at the top. Don't forget to subscribe and share our channel if you're enjoying our episodes! Navigate this episode: 2:16 Intro to Mark Gibson 4:16 Marks initial vision for First Internet and strength of current SBA industry 8:38 Marks background influenced his ability to scale First Internet 13:00 Keys to success that make a shop stand out 19:25 What makes a good BDO and what it takes to have a great BDO team 23:26 The pitfalls of starting an SBA shop 25:55 How important is a Chief Credit Officer to a shop? 30:15 Credit culture at First Internet 34:25 Capacity for credit team 36:30 Marks biggest strength, previous roles and mentorship 44:00 Has the new SOP impacted First Internets business plan? This episode is sponsored in part by: Able is an a AI-powered deal acceleration platform that streamlines the most hated process in SBA lending: document collection and management. You can learn more about Able and schedule a demo by going to www.able.ai Baker Lewis | Baker Lewis is the SBA lending industry's premier executive search and personnel consulting firm.
Hear veteran risk manager, advisor and professor Clifford Rossi's viewpoints on trends, threats and opportunities in the commercial and residential real estate markets. The past couple of years have been an extremely challenging time for risk practitioners charged with measuring and managing real estate risk. In both commercial real estate and residential real estate, concerns have been raised globally about interest rates, inflation and economic uncertainty. Indeed, in a recent Federal Reserve survey on salient risks – part of the Fed's October Financial Stability Report – roughly 75 percent of respondents cited the potential for “large losses on CRE and residential real estate.” CRE, more specifically, has been plagued by escalating vacancy rates for office buildings, thanks in part to the remote work trend that started during the pandemic and has since taken off. Residential real estate, meanwhile, has dealt with worries about housing affordability. As a former CRO at multiple banks and as an ex-senior risk manager at Fannie Mae and Freddi Mac, Cliff Rossi, our honored guest today, knows all about the CRE and residential real estate risks facing financial institutions today. Cliff, the current Director of the Smith Enterprise Risk Consortium at the University of Maryland (UMD), speaks with GARP editorial director Robert Sales about global real estate concerns and challenges, and offers advice on how firms can more effectively manage their exposures. SPEAKER'S BIO: Clifford Rossi (PhD) is the Director of the Smith Enterprise Risk Consortium at the University of Maryland (UMD) and a Professor-of-the-Practice and Executive-in-Residence at UMD's Robert H. Smith School of Business. He is also the author of GARP's monthly “CRO Outlook” column. Prior to entering academia, Rossi had nearly 25 years of experience in banking and government, having held senior executive roles in risk management at several of the largest financial services companies. His most recent position was Managing Director and Chief Risk Officer for Citigroup's Consumer Lending Group, where he was responsible for overseeing the risk of a $300+B global portfolio of mortgage, home equity, student loans and auto loans with 700 employees under his direction. While there he was intimately involved in Citi's TARP and stress test activities. He also served as Chief Credit Officer at Washington Mutual (WaMu) and as Managing Director and Chief Risk Officer at Countrywide Bank. Previous to these assignments, Rossi held senior risk management positions at Freddie Mac and Fannie Mae. He started his career during the thrift crisis at the U.S. Treasury's Office of Domestic Finance and later at the Office of Thrift Supervision working on key policy issues affecting depositories. Rossi was also an adjunct professor in the Finance Department at the Robert H. Smith School of Business for eight years and has numerous academic and nonacademic articles on banking industry topics. Rossi is frequently quoted on financial policy issues in major newspapers and has appeared on such programs as C-SPAN's Washington Journal and CNN's Situation Room. His book for risk practitioners and graduate students, A Risk Professional's Survival Guide, was published in 2014 by John Wiley & Sons, Inc. His research interests are in financial and nonfinancial risk management, risk governance and analytics and climate risk.
In this episode of the Big Picture podcast, we discuss the narrative around the dollar's demise, the implications for the global economy and the viability of its rivals.Guests: Al Wilson, Chief Credit Officer at Moody's Investors Service (MIS), and William Foster, Senior Vice President at Moody's Investors ServiceHost: Sarah Carlson, Senior Vice President at Moody's Investors Service
GNKD host, former Nashville Mayor and TNWAC Board Chair Karl Dean talks with Andy Moats, Executive Vice-President, Director of Music, Sports, & Entertainment Pinnacle Financial Partners. The wide ranging conversation covered Andy's professional experiences in music -- from touring with a rock band to leadership in music banking; to directing financial services for entertainers and sports figures. His passions and pursuits include fast cars and his role in bringing Grand Prix racing to Nashville. There's much more to this story. You won't want to miss this story about a Nashville native who has been key to many of the special aspects that make Nashville a global city. TNWAC wishes to thank Pinnacle Financial Partners for support to the Council and the goal of bringing global affairs awareness programs to the community. Recorded: Sep 25, 2023 | RT 30:10 Bio Andy Moats, 46, is a Nashville native whose background combines restaurants, music, racing, and creating a bank. After graduating from Vanderbilt University (Economics, 1999) Andy took time to pursue his passion for music, touring and supporting a multi-platinum rock band during the year 2000. Having played in various bands from an early age, his days performing may be over but his passion for music has helped to grow one of the largest music and entertainment focused banks in the country. In 2001, Andy began his banking career at Union Planters Bank then-turned Regions Bank, rising to the role of Commercial Real Estate Credit Manager with credit responsibility for all real estate loan activity in the Southeast. While pursuing his career path in banking, Andy was also heavily involved in his family's NASCAR business – Brewco Motorsports (#27, #37, #66) – and various family restaurant companies. In 2006, Andy co-founded what would become Avenue Bank. While at Avenue, as a member of the Bank's Executive Team Andy served the dual roles of Chief Credit Officer – managing all aspects of lending and credit - and Bank Group Director, which included leadership of Avenue's retail branch network, business banking division, private banking division, and music & entertainment division. In February of 2015, Andy and team embarked on their first public company ‘road show' and successfully took Avenue Bank public on the Nasdaq Exchange (ticker symbol: AVNU). In July of 2016, Avenue Bank merged with Nashville based Pinnacle Financial Partners to form one of the Top 50 largest Banks in the United States. Andy joined the leadership team of Pinnacle following the merger and currently serves in the role of Executive Vice President, Director of Music, Sports, & Entertainment. In this role, Andy develops and manages $2B in entertainment related accounts with clients including artists, songwriters, international label and publishing businesses, touring, athletes, and professional sports franchises, among others. Outside of Banking, Andy is a founder and partner of the Music City Grand Prix, an IndyCar race televised in over 180 countries attracting over 100,000 fans each year. Other pursuits include film (Executive Producer - Murder at Yellowstone City) and early-stage company development and investment. Andy's community involvement and accolades include: Exchange Club Family Center, former Chairman of the Board; founding member of Nashville Emerging Leaders; Montgomery Bell Academy Alumni Board; M Street Entertainment Advisory Board; Leadership Music Class of 2014; Nashville Film Festival Music Committee; The Tennessean's “Next Up”; Nashville Business Journal's “40 under 40”; Billboard Magazine's 2020, 2021, and 2022 Nashville “Power Players”, Music Publishing “Dealmakers”, and 2022/2023 all-industry “Power 100” ranking the music industries 100 most powerful players; Tennessee Entertainment Commission Board (Governor Appointed); Pet Community Center Board; Nashville Entrepreneur Center Board.
Understanding our audience in a nuanced manner is critical before we begin to draft our words, create pitch perfect tone, and design our slides. In doing so, we vastly increase the likelihood of achieving the desired outcome of our communication, and avoid losing audience engagement. In this episode, we hear from the Chief Credit Officer of Sunflower Bank, Jennifer Norris. Brought to you by PREZENT.AI and Executive Producer, Rajat Mishra.
The Transfiguration of Christ ... GUEST Father Tom Soroka ... pastor of St. Nicholas Orthodox Church, Mckees Rocks, PA. Women of Chaplaincy & Pastoral Care: a networking ministry that encourages and affirms women called to these vocations and related areas of ministry ... GUEST Chaplin Marcia Washington. Illness: How Can the Church Better Serve those suffering ... GUEST Dena Dyer ... Executive Assistant for Wheaton's Humanitarian Disaster Institute, and an author who lives with chronic pain & fatigue due to Hashimoto's and Fibromyalgia Location. Ten-Mile Valley Community Prayer Breakfast ... GUEST Patrick O'Brien ... Executive Vice President and Chief Credit Officer, Dollar Bank.See omnystudio.com/listener for privacy information.
The Transfiguration of Christ ... GUEST Father Tom Soroka ... pastor of St. Nicholas Orthodox Church, Mckees Rocks, PA. Women of Chaplaincy & Pastoral Care: a networking ministry that encourages and affirms women called to these vocations and related areas of ministry ... GUEST Chaplin Marcia Washington. Illness: How Can the Church Better Serve those suffering ... GUEST Dena Dyer ... Executive Assistant for Wheaton's Humanitarian Disaster Institute, and an author who lives with chronic pain & fatigue due to Hashimoto's and Fibromyalgia Location. Ten-Mile Valley Community Prayer Breakfast ... GUEST Patrick O'Brien ... Executive Vice President and Chief Credit Officer, Dollar Bank.See omnystudio.com/listener for privacy information.
How are fintechs managing economic headwinds and credit tightening? We talk with Ratinder Bedi, Chief Credit Officer at SoFi, about how his company is managing these challenges and how fintechs and traditional banks often differ in their approach. In this episode: · The biggest challenges facing SoFi this year· How the restart of student loan refinancing may impact the fintech industry· What's in SoFi's playbook for economic downturns· Where SoFi wants to leverage generative AI in its business· What the fintech industry is doing differently from traditional banks· How fintechs and other industries are battling the rising tide of fraud Resources: Fintech Solutions: Discover how our rich data, predictive analytics and cloud-native technologies can help fintechs successfully target and acquire more customers, mitigate fraud and make better business decisions. CreditForecast.com is a joint venture between Equifax and Moody's Analytics. Get actionable consumer credit, economic and demographic data, forecasts and analysis. Register for Market Pulse webinars to get relevant economic and credit insights to help your business make more confident decisions. Learn more about our Market Pulse podcast, and contact us at marketpulsepodcast@equifax.com
Hear veteran risk manager, advisor and professor Clifford Rossi's perspective on recent turmoil in the banking system, on where risk management fell short, and the profession's readiness for future challenges. The collapse of Silicon Valley Bank (SVB) and subsequent events inevitably invited comparisons with past crises. It was widely assumed that the damages of 2023 would be more contained than those of the Great Financial Crisis of 2008. But they could similarly leave a long tail, with economic and regulatory repercussions well into the future. A clear parallel between 2008 and 2023 is the spotlight placed on risk management. In the intervening years, the risk function in banking and financial services grew in prestige and responsibility – and its failings were documented as having played a role in SVB's demise. Drawing from regulatory experience early in his career, to senior risk and credit positions at major financial institutions, to his current professorship at the University of Maryland, Cliff Rossi has lived through multiple crises while observing the effectiveness and evolution of risk management. GARP Risk Intelligence's CRO Outlook columnist, Rossi has been especially critical of boards of directors' risk governance, one of many timely subjects covered in his podcast conversation with GARP contributing editor Jeff Kutler. SPEAKER'S BIO Clifford Rossi (PhD) is an Executive-in-Residence and Professor of the Practice at the Robert H. Smith School of Business, University of Maryland. He is also the author of GARP's monthly “CRO Outlook” column. Prior to entering academia, Rossi had nearly 25 years of experience in banking and government, having held senior executive roles in risk management at several of the largest financial services companies. His most recent position was Managing Director and Chief Risk Officer for Citigroup's Consumer Lending Group, where he was responsible for overseeing the risk of a $300+B global portfolio of mortgage, home equity, student loans and auto loans with 700 employees under his direction. While there he was intimately involved in Citi's TARP and stress test activities. He also served as Chief Credit Officer at Washington Mutual (WaMu) and as Managing Director and Chief Risk Officer at Countrywide Bank. Previous to these assignments, Rossi held senior risk management positions at Freddie Mac and Fannie Mae. He started his career during the thrift crisis at the U.S. Treasury's Office of Domestic Finance and later at the Office of Thrift Supervision working on key policy issues affecting depositories. Rossi was also an adjunct professor in the Finance Department at the Robert H. Smith School of Business for eight years and has numerous academic and nonacademic articles on banking industry topics. Rossi is frequently quoted on financial policy issues in major newspapers and has appeared on such programs as C-SPAN's Washington Journal and CNN's Situation Room. His book for risk practitioners and graduate students, A Risk Professional's Survival Guide, was published in 2014 by John Wiley & Sons, Inc. His research interests are in financial and nonfinancial risk management, risk governance and analytics and climate risk.
You've worked your whole life to build your business. What will the next generation look like? We sat down with a farmer, a lender, and an insurance agent to understand what goes into a successful succession plan.Guest: Kent Stensland, Chief Credit Officer and Chief Trust Officer, Bank MidwestCurt Peterson, Insurance Agent at Bank MidwestJohn Myhre, FarmerBank MidwestMember FDICMusic: "Cheery Monday" Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License http://creativecommons.org/licenses/by/3.0"Eternal Hope" Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License http://creativecommons.org/licenses/by/3.0"Study And Relax" Kevin MacLeod (incompetech.com)Licensed under Creative Commons: By Attribution 4.0 Licensehttp://creativecommons.org/licenses/by/4.0/
Banking failures. Interest rate hikes. Market turmoil. Recent headlines are fueling anxiety around the economy. How are these fears seeping into the agricultural industry? In the latest episode of The Dairy Download, we're joined by two experts who map out the state of the ag economy.First up is John Newton, Chief Economist with the U.S. Senate Committee on Agriculture, Nutrition & Forestry. Farmers are facing increased expenses amid interest rate hikes and elevated input costs. What steps are lawmakers taking to ease the pressure? Will the new Farm Bill include any additional assistance? Newton discusses those topics and more.Next, we speak with Vince Bailey, Chief Credit Officer with Farm Credit Mid-America. Profits are always top of mind for producers and ag businesses. How are factors like land values, equipment costs and higher interest rates impacting bottom lines? Is recent turmoil impacting farmers' appetite for risk? Bailey sheds light on those issues and others.The episode is sponsored by Infor. "Infor provides dairy-specific cloud software that addresses catch weight, formula management, regulatory compliance, and delivery forecasting with full supply chain traceability. Find out how at infor.com/dairy."If your company is interested in sponsoring a block of episodes of The Dairy Download, contact IDFA's Melissa Lembke at mlembke@idfa.org.Questions or comments about the show? We want to hear from you. Send a note to dairydownload@idfa.org and your feedback could be included on a future episode.
Ted Jung is the Chief Credit Officer with Parkview Financial, which is headquartered in Los Angeles and he lives and breathes lending across a broad spectrum of commercial real estate transactions. Ted's background has prepared him well for this position, and he brings to his role 17 years of institutional life insurance and banking experience in the commercial real estate lending industry on a national platform where he has provided loan credit approvals in excess of $12 billion.He has extensive knowledge of underwriting and originating large loans for all major asset types with institutional sponsors across both primary and secondary markets throughout the U.S. His experience across the capital stack includes senior perm mortgages, mezzanine debt, construction loans, CTL's, and equity. Let's hear what he has to say about the state of the industry from his perspective.Welcome to the podcast, Ted.
In this episode we have another incredible subject matter expert from Freddie Mac, Terri Merlino. We have a conversation about risk management, specifically what Freddie Mac is actively doing to create affordable credit options for home buyers, how mortgage originators can use tools to create efficiency and productivity, as well as what a culture of risk awareness looks like. Terri Merlino is Senior Vice-President & Chief Credit Officer for Freddie Mac's Single-Family Division. She leverages her broad-based knowledge of mortgage operations, sales, processing, underwriting, quality control and secondary marketing activities to substantially and positively impact Freddie Mac's mortgage credit risk management efforts, as well as our client experience. Prior to Freddie Mac Terri held the roles of Chief Credit Officer and Chief Risk Officer at New Penn Financial and spent many years at PHH Mortgage as Senior Vice-President of Credit and Operational Risk, where she was responsible for fostering a risk-aware culture through her leadership of all aspects of credit and operational risk management. Terri has served on several industry committees, including Fannie Mae's Risk Management Forum and Freddie Mac's Credit Advisory Board, and twice been named a HousingWire Women of Influence. She also holds a Bachelor of Business Administration in accounting from the University of Houston. Connect with her on LinkedIn: https://www.linkedin.com/in/terrimerlino Learn more: www.FreddieMac.com If you are enjoying the MME podcast, please take a second and LEAVE US A REVIEW, and don't forget to connect with us on social media!
This week on the Small Business Matters podcast we sit down with two exceptional leaders doing incredible work on behalf of the small business community. SEGMENT 1 - In our first segment, we speak with Shannan Herbert, Executive Vice President and Chief Credit Officer for City First Bank about underwriting for racial justice. In this thought-provoking discussion, we talk about the disparities black and brown businesses face in gaining access to credit, and key learnings from her work with Beneficial State Foundation and the special purpose credit program currently in development. SEGMENT 2 starts at 17:44 - Each year the Federal Reserve surveys small business owners about applying for credit and their challenges. Emily Wavering Corcoran is the Program Manager in charge of this research. In our interview, Emily discusses the latest report on small businesses owned by people of color. It's really remarkable research that raises a lot of questions about small business credit disparity for underserved small businesses. For any resources mentioned on the show today, visit our show notes over at experian.com/smbmatters. Want to help us grow? Drop us an honest review and rating on whichever platform you are listening on and remember to tell your friends and colleagues about the show. FOLLOW US Twitter Instagram LinkedIn YouTube
Mike Luebbers is the Chief Credit Officer at Novel Capital. Novel's FinTech funding platform provides new options without the traditional barriers many B2B companies face today. Ben and Mike discuss the actions you should take to close your deal and maintain a great relationship with your lender. This episode is a must-listen for anyone seeking capital. Check it out!
Mike Luebbers is the Chief Credit Officer at Novel Capital. After discussing more traditional, highly underwritten loan types in the first episode, Ben and Mike explore Fintech loans and various debt products. These debt structures are a good fit for many early-stage businesses, often making them appealing to eCommerce founders. Understand all of your options (and how to actually secure them) by watching this episode!
Lessons learned from the trenches from an experienced business "fixer". There are many common themes that have resulted in entrepreneurs needing liquidity infusions from Warbird. Several are avoidable mistakes on the finance side of the business. Entrepreneurs often have blind spots in areas outside their main expertise. #abandp #bizhelpforyou Nick Pastushan is founder and CEO of Warbird Capital LLC, a private debt and equity investment company that features advisory / coaching for its customers.He is an experienced restructuring professional with major roles in complex airline bankruptcy cases, all the way down to small business turnarounds.His background includes over 20 years as a credit professional at major banks, finance companies and leasing companies, including roles as Chief Credit Officer and Chief Investment Officer with a $20B portfolio across multiple business lines.www.warbirdcap.comwww.linkedin.com/company/warbird-capital-management-lp/?viewAsMember=truehttps://www.nbcnews.com/business/econ...https://www.overdriveonline.com/busin...If you have a friend that is contemplating merchant cash advance type business funding, point out the pitfalls discussed today, and let them know that there are better options available, such as Warbird Capital. Please pass along the contact information if you know someone with a fundamentally good business that is in a bad liquidity spot.To learn more about Affordable Bookkeeping and Payroll, visit: https://affordablebookkeepingandpayro... I'm Candy Messer, President of Affordable Bookkeeping and Payroll and Podcast Host of Biz Help For You. This channel will share helpful information for you to run a successful business including tips in the areas of bookkeeping, payroll, sales tax, business licenses, and other compliance PLUS information I share from experts in other fields.To find even more helpful information, visit my blog at https://affordablebookkeepingandpayro...
A very special guest, Professor Sean P. Rozario, speaks with Sujata on the show. He has an MBA in Finance from Hartford University in addition to many more Masters certifications across the gamut of financial and credit disciplines. Professor Rozario harnessed his banking and finance experience of twenty-six years to align the People's Association Business Units to their organisation's Financial Audit Guidelines from 2016 to the present. His leadership skills are evident by the appointments he held in his career in the banking and finance industry. He was Head of Compliance for G&M World Invest and Associates, Chief Credit Officer for DHL International, Credit Manager for Diethelm Keller Siber Hegner (DKSH) among many more similar roles for AMEX, HSBC & Standard Chartered. Sean has been a "grassroots leader" for the past eighteen years. He has served as Chairman of the Inter Racial and Religious Community Circle (IRCC) and further represented the IRCC in several capacities. He seeks to influence and inspire Singaporeans through the arts and sports, deepen a sense of identity and belonging to the nation, strengthen community bonds, engage youths and promote volunteerism and philanthropy, to build a gracious and caring society. To that end, all the songs covered in this episode of Hangout with Sujata are ones that have been performed Professor Rozario himself either as the vocalist, pianist or both. Enjoy!
In today's episode of The Higher Standard, Chris shares insights he gained from his recent participation in a Chief Credit Officer symposium in New York. While there he was able to mingle with other Chief Credit Officers and share thoughts and ideas about the state of the economy. In this episode you'll discover: - Insights and discoveries he made during the symposium, not all of which he agrees with. - A fascinating television interview with Brian Moynihan, CEO of Bank of America. - Why household debt and consumer reports as of the first quarter of 2022 paint an intriguing picture. This is a show you do not want to miss! Join Chris for this fascinating conversation. Enjoy! What You'll Learn in this Show: Chris' insights from the symposium, as well as his own thoughts on those insights. Why Chris was less than happy with Bank of America CEO Brian Moynihan's television interview. The fascinating picture being painted by household debt and consumer reports as of Q1 2022. And so much more... Resources: https://blackcrowninc.com/ (Black Crown) https://www.instagram.com/chrisnaghibi/?hl=en (Instagram) https://www.facebook.com/ChrisMNaghibi/ (Facebook)
2022 started off with dire predictions for production Agriculture's financial outlook. But, by mid spring the picture was changing, and by early summer a very profitable year was being predicted. Is that still the case? Are farm balance sheets going to swell? Or will interest rates and inflationary pressure on inputs create losses? Tim Koch, Chief Credit Officer for Farm Credit Services of America provides guidance on what he sees across his company's $40 billion loan portfolio. Sponsored by Nori nori.com and Pattern Ag pattern.ag
We caught up today with Melissa Johnston, Co-Founder and Chief Credit Officer of EntreBank, a brand new community bank, located in the Twin Cities. When we last interviewed her, EntreBank did not have an official name yet and their founders were working through the approval process with the appropriate governing bodies, which she will tell you was quite grueling. But that was then, and this is now!EntreBank's focus on privately held companies has an approach that focuses on both internal and external factors. Internally, they have been very diligent about hiring can-do team members who aren't afraid to take on challenging projects and don't get shook up if things take a bad turn; they're wired to figure out a way to make it work and they're motivated to grow the bank and succeed as a team. Externally, EntreBank focuses on acquiring customers who are looking for a banking relationship; something they can't get with a big bank. Unfortunately, larger banks are not set up to work with small businesses who seek a true banking partner who can help them throughout their business life cycle. Melissa said getting to know the owners and their businesses is key to recognizing opportunities and pitfalls that could swing the business in one direction or the other. This company will be one to watch and one to consider working with if you are a Twin Cities owned small business looking to align with a bank who is innovative, knowledgeable and has the products and services you need now and will need in the future.
Since 2020, we've seen astonishing growth in donations to community non-profits, and more and more people today are making donations an integral part of their lives. Whether you have a little disposable income you'd like to share or you see a need in your community that you want to support, making donations in any way you can is one of the biggest ways you can help that cause make a difference.Want more finance tips from your neighborhood experts? Follow Bank Midwest on Facebook, Twitter, Instagram, and LinkedIn!Guests: Ali Schmitz, Executive Assistant at The Okoboji FoundationKent Stensland, Chief Credit Officer at Bank MidwestBank MidwestMember FDICMusic: Cheery Monday Kevin MacLeod (incompetech.com)Licensed under Creative Commons: By Attribution 3.0 Licensehttp://creativecommons.org/licenses/by/3.0/
Investing in commercial real estate is a lucrative form of wealth creation, but only if you understand the rules involved. Ideally, what you need is the perspective of someone who deals in commercial real estate everyday - someone who can help you navigate the ins and outs of the industry. In today's episode of The Higher Standard, Chris provides some of that perspective. As a Chief Credit Officer for a bank, Chris can offer insights the public doesn't often have access to. You'll discover why buying and selling your home isn't sufficient to prepare you for commercial real estate investing. You'll learn about the Debt Service Coverage Ratio (DSCR) and the questions you need to be asking. You'll discover why the term "commercial real estate" is very broad, and why you need to understand the different asset classes and markets involved. You'll also learn how to select the right lender to speak to when financing your investments. Join Chris as he breaks down the three things you must understand before investing in commercial real estate. Enjoy! What You'll Learn in this Show: Why buying a home for yourself and investing in a commercial property are two very different processes. The importance of understanding the Debt Service Coverage Ratio (DSCR). The differences between various asset classes when investing in commercial real estate. How to choose the right lender for your commercial real estate investment. And so much more... Resources: https://blackcrowninc.com/ (Black Crown) https://www.instagram.com/chrisnaghibi/?hl=en (Instagram) https://www.facebook.com/ChrisMNaghibi/ (Facebook)
Co-CEO and a Founder of ACORE Capital, Chris Tokarski joins Matt on this week's Leading Voices to talk about the CRE debt business in general and, specifically talk about the private debt providers, like ACORE, which have become a major part of the market, particularly in construction and transitional lending since the Global Financial Crisis. With approximately $17 billion of assets under management, ACORE is one of the largest private debt providers focused on commercial real estate, originating and managing first mortgages, B-notes, mezzanine debt, and preferred equity, deploying over $28 billion in more than 375 transactions since inception in 2015. Chris also talks about his early start in the business at Nomura—the then disrupter in the CRE finance business, meeting his current partners there and their path together at several firms before co-founding, and co-leading ACORE.Chris has over 25 years of experience in leadership roles with large, national lenders, including four years as Chief Credit Officer for Starwood Property Trust, and has served as an advisor on workouts and other financing solutions through multiple cycles. Chris has personally invested in commercial real estate throughout his career.The Commercial Observer has honored Chris in their annual listing ‘The 50 Most Important Figures of Commercial Real Estate Finance', ranking him in the top 15 for the past 5 years.Chris earned a B.A. degree from Brown University with a double concentration in Business Economics and Organizational Behavior and Management.
You may have heard the term going around the Internet: AirBnB arbitrage. It's a wildly popular economic strategy, often promoted as being an easy and lucrative way to cash in on the popularity of AirBnBs. In today's episode, Chris shares his unique insight into this phenomenon - both what it is, and more importantly, what it isn't. You'll discover a bit about Chris' unique background and how it allows him to see the AirBnB arbitrage concept from multiple perspectives, revealing its all-too-real difficulties. You'll learn how so-called experts online have portrayed the concept as being an easy and lucrative way to make income by subletting through AirBnB. You'll discover the limitations of AirBnB arbitrage, why it's restricted or even illegal in an increasing number of cities. Join Chris as he demystifies the concept of AirBnB arbitrage and its benefits and drawbacks. Enjoy! What You'll Learn in this Show: Why Chris' background as a lawyer, a real estate broker and Chief Credit Officer at a publicly-traded bank gives him a unique perspective on AirBnB arbitrage. Why the concept of AirBnB arbitrage is not as simple (or as lucrative) as it's often portrayed by "experts" online. The limitations of AirBnB arbitrage, and why it may even be illegal where you live. And so much more... Resources: https://blackcrowninc.com/ (Black Crown) https://www.instagram.com/chrisnaghibi/?hl=en (Instagram) https://www.facebook.com/ChrisMNaghibi/ (Facebook)
Government indebtedness has surged as countries have battled COVID-19 and its economic fallout, following a decade of increased borrowing. Total debt across governments around the world soared to $83 trillion in 2020, up from $50 trillion in 2010. And this year, government debt is likely to exceed nonfinancial company debt for the first time in decades. What are the consequences of this borrowing binge for the broader economy? What happens when interest rates start to rise? And why is there such divergence between advanced and emerging market countries in how they are positioned to manage the situation?Guests: Richard Cantor, Chief Credit Officer, Moody's Investors Service; and Marie Diron, Managing Director – Sovereign Risk Group, Moody's Investors Service.Host: William Foster, Vice President – Sovereign Risk Group, Moody's Investors Service.To read more on this topic, visit The Big Picture page on Moodys.com (some content only available to registered users or subscribers).
In our first full-length episode, Lenny Giltman, Chief Credit Officer at Kroll Bond Rating Agency (KBRA), joins us to discuss his experience at KBRA. We go over the role of the ratings legal department at KBRA, the importance of legal review in credit analysis, Lenny's background in legal and how it informs his new position as Chief Credit Officer, the asset classes KBRA is most active in, how KBRA is distinguished from other ratings agencies and the obstacles it faces in building its market share, how it has responded to the increased focus on ESG risk and more.
Relationships are the truest form of currency -- and banking is no exception! In today's podcast, attorney, broker, contractor, real estate investor and Chief Credit Officer of First Foundation Bank Chris Naghibi shares the strategic advantage of working with community banks for your real estate investing. For complete show notes go to http://olddawgsreinetwork.com/the-community-bank-advantage/ IF YOU LIKED THIS PODCAST, we would love if you would go to iTunes or Apple Podcasts and Subscribe, Rate & Review our podcast. This will greatly help in sharing this podcast with others seeking to learn real estate investing.
Have you ever wondered HOW to buy rental properties and build up passive income through cash flowing properties? Chris Naghibi, the Chief Credit Officer of First Foundation Bank, goes into detail and gives you actionable steps you can take to build up cash flowing assets through a robust real estate portfolio. Chris helps you plan on how you can position your finances to be ready to get into the rental space and be profitable. Thank you to this episodes sponsors! Make sure to check out their websites below and click the link to take advantage of our special promos! Virtual PBX Hello Fresh DB Journey
In an interview with podcast "OA On Air," Boston-based Brookline Bancorp Chief Credit Officer Bob Rose discusses the economy and the impact of the pandemic on the major industries in the Greater Boston area, including financial services, housing, higher education, and commercial real estate. For podcast sponsorship/advertising opportunities, please email RMAsponsor@rmahq.org. Have a smart phone or tablet? Subscribe for FREE to our podcasts on Apple Podcasts, Spotify, and Google Podcasts.
Chris Naghibi, the Chief Credit Officer of First Foundation Bank joins us to talk about what investors can do to build a solid investor profile and get the best terms on their loans. --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The remote real estate investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals. Michael: Hey, everybody, welcome to another episode of the real estate investor. I'm Michael Albaum, and today I'm joined by my co host, Tom Schneider, as well as a very special guest, Chris Naghibi, who is the chief credit officer for First Foundation Bank. And Chris is gonna be talking to us today about lending overall, and what we as real estate investors need to be aware of. So let's get into it. Awesome, Chris, welcome to the show. Thank you so much for taking the time to come and hang out with Tom and I really appreciate you. Chris: Oh, thank you guys. Appreciate you guys having me on. Michael: Yeah, absolutely. So for all of our listeners out there would love to know and have you share a little bit about your background and how you got into the real estate space and kind of what you're doing today. Chris: You know, backgrounds kind of kind of schizophrenic, I look at my own resume. Sometimes I wonder like how this path has taken me where I'm at. I'm an attorney by trade. We started a bank in October 2007. And somewhere along the way I feel I felt like I fell in love with real estate. I've done it since I was a kid. My father, when I was 14, he handed me a cold call list and told me to call everybody and told me that for everybody, I got to give him an application to give me 500 bucks. Well, the first day I made 1000, and he refused to pay me. But I never stopped falling in love with real estate and kind of the concept of the fact that we all have to know about it. And then I eventually, you know, branched out started a law firm, started my own real estate company, and I still work at the bank. We're publicly traded. And you know, it's just it's been a wild ride. But you know, it's my crazy, crazy background. Tom: What are some unexpected things in starting a bank? Like I love that, Yeah, we started a bank like what is what are your, I guess, three takeaways that you were unexpected assumptions? Or? I don't know, you can take them any direction. So three bullet points. Chris: There's a lot of assumptions. Yeah. Well, let me tell you three bullet points about starting a bank. It's hard. It's a lot harder than you think. I think people think regulators like Oh, the SEC, you know, or, or, you know, oh, it's have some little bit of oversight regulators are very strict. When you start a bank, you have to write a business plan out for three years in advance. And then you have to stick to that business plan for three years, except we started a bank in October 2007, Michael: Great time to get into banking. Chris: Probably not the best written business plan given the market, we rolled with it nonetheless. The second thing is, is relationships are so vital. You can grow a bank and you can do such a huge thing. But relationships so that choose from a currency, right? Well, if you're starting a bank, and you're trying to build something from the ground up, like any business, a bank is no different. Who you know, and how much they believe in, you really matters. And the third thing, businesses scale differently. And banks definitely scale in a very unique way. It's a slow, you know, grind over time. But money builds money and interest rates are such an pure form of building passive income. And banks make such a huge amount of money from it, but it takes years to get there. So our original idea I will sell in five to seven years. Well, that didn't go very well did it? And it's been a you know, 14-15 years now. So but it's a long game. Mochael: Interesting. Yeah. Do you think, Chris that you got into becoming an attorney because your father, you know, breach of contract? You're like, I gotta you know, I never wanna let this happen again, Chris: Yeah, dirty real estate brokers. No, my dad. My dad actually went to law school with me. How's that? How weird of a story is that? My dad I'm really six foot five. My dad's five five fat little dude looks like Danny DeVito. I love them to death. But you know, he would look at him and go wait a minute that yeah, that's so anyway. We went to law school together. It was a kind of a later on in life venture for him. And he was his way to motivate me because I just wanted to be in real estate. I you know, I was working. I didn't want to do this. And he's like, well, if I can do it, you can do it too. And that was a terrible idea. Because everywhere you go, you're now like the cute little, you know, idiot standing next to him while he's in law school and like, look at you. You're sad. He's so cute. And well. He did it together. He actually works in my law firm to this day, but he's been a huge motivator for me to try to get more understanding of the business. I think when I was a kid, when I was working my dad The one thing that I really wanted I took the took home from that that relationship was his that he didn't know the entire business. He knew the single family side and didn't know you know, business lending or commercial real estate or multifamily real estate kind of my passion. And I wanted to know so much more and the more I started to research and get into it, the more he did too. And now we kind of geek out together on some of the stuff which is also weird, but that's what we do. Michael: Did you ever see that movie twins with Arnold Schwarzenegger and Danny DeVito Chris Yeah, that's like my dad except Well, I'm that's what it is. I'm not buff or good looking. But if that were the case,Yeah. Michael: That's great. That's great. So I would love to kind of take the conversation and focus a little bit into lending, because I think it's an area that a lot of real estate investors, there's just a lot of clouds, I think surrounding and people go talk to different folks and get different answers. And so it's tough to really nail down. So from your experience, who is the best candidate to receive lending? If I'm going to really I want to be a real estate investor, I'm just getting started, how do I set myself up to go get a really great mortgage. Chris: So I mean, you're talking just for your just for your home or for like an investment property, because there's a very different investor profile. Michael: For as a pure investment. Chris: And I want to make sure we delineate that because I think there's a lot of confusion as it relates to buying a home for yourself to live in and buying a home, that's going to be an investment property for someone else to be in. I actually went down this path. So when I first started buying investment, real estate, I was buying single family residential real estate, because I couldn't afford that, you know, bigger stuff. And I tried to figure out that profile too, because I wanted to be that guy, I wanted to be the profile. And now the chief credit Officer of a bank, I kind of defined the box, there's a couple nuances that I think people are confused about is they think that when they buy an investment property, that that property's cash flow is going to benefit them, and it's gonna make their application a lot more attractive to banks. Well, it doesn't work that way. It's based on your historical income, it's based on you know, what you've done? And can you do you have an ability to repay this mortgage, do you have the ability to pay it as a second property under your current cash flow. So the first thing I would tell you, if you're, if you're looking to get into real estate, and you think there's gonna be exponential growth, it's gonna take your time, just like the making business, when we first talked about that, you have to have a good stable source of income, verifiable income. And if you don't, there are some alternatives for like, you know, hard money lending, there's other alternatives there. But if you want to take out financing, and whether you want to go interest only in a three to five year product, or you want to go on a 30 year fixed product, whatever your investment, you know, methodology is, you have to plan on being able to pay for the mortgage that you're getting. Another question that I commonly see a lot is, you know, how much do I have to put down? And that varies so much based on risk profile, right? Like how much you need to put down based on risk profile of your own choosing? How much do you want to have in the property? How much can you afford? But also, where's that property located? And what are the rents like, you want to make sure cash flows. So I'll tell you, if you want to buy investment, real estate, and you want to be the ideal candidate, you need to have cash flow, and you'd have an understanding of the market. Because your understanding of the market is going to be clearly shown in your application. Because if you're going to buy a property that makes financial sense, it's going to make financial sense for the banks for lenders, because the lender and the bank are always going to look at a worst case event scenario of default. If you default on this property, can we turn it around and sell it and not lose money, and more equity you have in the property, the more attractive it is, the more experience you have, that actually matters to a bank, you know, stuff like that. Tom: You know, in buying several rental properties myself and using different lenders, I found that the like the qualifying income has been inconsistent, where some banks haven't accepted the rent that was, you know, collected and some have, and some would count my other rentals that are, you know, have been leased out for a long time, and some wouldn't, I mean, is there like a lot of leeway in like underwriting process? Or is that something that's standardized at a federal level? Chris: Alright, so we're gonna get into some cheat codes. This is my favorite one. Got it? Good. So, this is a guy. Yeah, who started the bank, right? You got to find the portfolio lender, right? You need to understand a basic concept as a real estate investor as it pertains to single family homes. There are agency lenders, and there are non agency lenders, the agency lenders are particularly people who conform to Fannie Mae agency guidance, that's a very rigid box, right? It's like when you go to a big box, Bank of Bank of America, Wells, Chase, you know, whoever you're going to, they have a very tight window of what fits in their niche. And if you don't fit that, they're just gonna say no, and unless you're a private wealth management client, they're not gonna give you an opportunity to apply. And the answer is just no. What I always tell people is one of the most undervalued assets for real estate investor is a community or regional or super regional bank, where somebody knows your name, and I'm not quoting cheers, it's just true. The bankers know you. Right. And the other aspect of a community or, you know, regional bank, or you know, whoever they might be, is if they are not selling into the secondary market, and usually that's a way larger banks manage their liquidity. Alright, sell some assets off, get some more liquidity, make some more loans, so it works out well for them. But for a smaller bank, you want to grow your assets in size, increase your interest producing assets. So how do you do that? You make more loans, you hold them in portfolio, but they know they can't compete with the wells that chase the B of A. So their guidance, their credit policy, their their broad document, which outlines what they can and can't do is generally not based on agency guidelines, and there are a lot more flexible, they're able to make some of those discretionary decisions. Like you know what, Tom and Michael are good guys are investing in this. We believe this is a first one they might be short here on pi but we can make a policy exception to it and your personal relationship with matters, right? It goes right back to that first payment that we made relationships that she was former currency and we all have a relationship with a bank, you're just who have you chosen to have your relationship with? Michael: That makes total sense. So how would somebody if I'm a borrower and a buyer, I want to go buy investment property? How would I know whether the bank is conforming or non conforming? Chris: You can ask I mean, it's not, it's not a confidential thing. What I would typically tell people is that the more you get into real estate, and the more you start looking around, the more you start figuring out the relationships that are more personal. And as a result of that, you'll know who's really not an agency lender, because I'll tell you the dead giveaway, if you have to call into a one 800 number, and it's a call center, that's an agency bank, they're going to go traditional Fannie conforming guidance, if you're talking to an individual in a bank, and they're actually helping you out and telling you what's going on, that's usually somebody who's a local regional bank. But that's a very easy thing you can ask them, they'll tell you straight up, whether they keep it in the portfolio or not, there's nothing wrong with telling you that and disclosing that. You know, in Southern California, I could probably name all of them in my area, just because I've got loans with all of them now myself, and I compete with them in the banking space. And as you become a more and more seasoned real estate investor, you need to know that, in particular reason why let's say you even even if you conform to agency guidelines, and let's say you have all the cash flow, you have all the net worth about six months of pi ti, and let's say you're able to put down more money, because these are non owner occupied investment properties. And let's say you're okay, putting it in your individual name, because agency lenders will require that or trust, you still have to have, you still get a limit, Fannie Mae has a limit of 10 properties are typically going to lend to you and after that, you really can't go traditional agency anymore, because you're considered to be too risky of an investment for the secondary market. So you're gonna get, if you succeed at this, you're gonna have to know those community regional banks, because they're the only ones are gonna lend you at a certain point. And that's where a lot of these online gurus and people that are telling you, it's telling you these plans for 100 bucks, and they do all these things, these strategies are great. They kind of leave out that detail of there's there's a cap there unless you figure out the market. Tom: One more question in talking about community banks, credit unions, this may be a dumb question, but difference. I mean, I don't know that I'm looking to go get alone, like talking to a credit union versus bank. Are they like, sometimes like the same? Or? I don't know, if you could just kind of spiel on that. I think it's one of the things that people hear a lot, but don't necessarily understand the difference., Chris: Yeah, well, I mean, they're different different types of institutions, right, and we look at them and we walk drive, we walk by them, we drive by them, and we don't really think much, we think bank, they hold money, I give them money, they lend out money, it's the bank, or credit union has a lot more of that relationship based feel that that's kind of why they are credit unions in the first place is they have to have a Nexus to you in the form of relation. And the reason why that Nexus that relationship is so critical and vital to to to what they do is because everybody who comes in there has this connection. And because they have this connection, you're talking with individuals, you're not calling one 800 numbers, typically, unless you're doing with a very large credit union, there's a very few of those in the United States, they do have that flexibility, they do have different lending standards, they do have different lending guidelines, and you can usually have those conversations. One of the biggest benefits, I tell people from credit unions you get though, as you get better interest rates, you typically get better interest rates, from the credit unions, you typically get a little bit more credit flexibility and a little bit more insight into what's going on. And you also have that relationship base level that you would get at a community bank, I would say that in if you're a real estate investor, and you want to go into something like an LLC, as your as your name on title, and you want to hold it there for passive income purposes, for tax purposes, you probably can't do that at at your local, you know, credit union, but you can do that at a at a portfolio based bank, depending on their risk profile their tolerances. And in states like California, where there's a single action rule, basically like that, because they know that in a worst case, scenario default, they can take the property back from you. They're not to go to court, they file a deficiency judgment, take the property back. Tom: Make sense. As a remote investor, How, how would that change the calculus in evaluating, you know, the we're looking for local relationships or credit unions? And am I in my shopping more in my local? Let's say I'm in California? Am I am I talking to my local credit union to go buy properties in St. Louis, or something? Or am I talking to local credit unions or community banks in St. Louis, I'd love to hear your insight on that on on local lending versus kind of… Chris: It's gonna be a lot of repetitive, repetitive thoughts, you're kind of running through it. And I'll tell you, I have to do this too. So a lot of my real estate portfolio is in Oklahoma in Texas. I live in Southern California. So it's easy for me to get out there and get loans. If I wanted to go through Bank of America, which I believe I have on one loan, I can do that easily. Yeah, I can go to them, but I have to fit that box. And I'm at a pipe apart now a plus size now that that portfolio size is not going to resonate well with them. Banks typically looked at as saying this person carries way more mortgages, and which brings down my credit score a little bit because I've gotten, you know, all this outstanding debt. But at the same time, they look at me as an increased risk because people who have more properties just have inherently more risk associated with them. So it winds up being this long conversation. So I've been forced to understand that market and get to know that market and the one thing I can tell you is if you want to be remote real estate investor, and you want to be completely hands off, you really have to trust your team, you have to trust your financing people in the market, you have to trust your property manager in the market, you have to trust the people that are there. And if you don't trust them implicitly, you know, you're far enough away to where you won't see what's happening. So I always tell people to go to the go to the area, you have to get to know their market, you have to get to know the bankers, yes, get another community. So I typically go to markets that are new that I want to invest in, and I'm I'm a real estate agent, I'm a real real estate broker and I want to chop it up, I want to talk to the real estate agents and brokers that are in the area, I want to get their feel, it would be a very foolish errand to walk into a community. Let's say like in Oklahoma, I own a lot of real estate in a suburb called Edmond, which is in North Western suburb, Oklahoma city, I would be foolish to walk into that market, and acted like I knew what was going on. Like I knew who was moving in who was moving out what the flavor of certain neighborhoods was, as far as rent appetite goes, I couldn't, I couldn't do that. So I have to rely on local talent. But in having those conversations, one of the things I always ask, who's your go to bank and why. And you start hearing the same names over and over again, in the market of who the players are that understand the real estate investor and understand what's going on and who, who's really trying to scale portfolios. And you go talk to them, you sit down, I did that literally the last time I was out there, I sat down with a bank, a smaller community bank, I think they were about 100, maybe $200 million in size, not a massive bank and said, Look, I want to talk to you guys about my relationship, and they gave me two offers right out right off, you know, the right off the bat, hey, we can look at a commercial line of credit for a million dollars where you could, you know, use this to buy real estate, and then we can refinance it off, or we can look at financing and your single family real estate as you go through, we're gonna want 5% more down. And that conversations evolved over time, I've gotten to know them a lot better. And now I know that anything in Oklahoma I want to go to I go to them, they're gonna take care of it for me, and they already have my financials, they already have my information, I'll usually give them an updated tax return, if the time has come, I don't have to resubmit an entirely new application, I sign an application I update what financial they already have. You go to a big box bank, you're filling out all that information all over again. Michael: Yeah, it's, it's such a stark difference as someone also who has portfolio loans and standard loans. I mean, I give this anecdote all the time, when, when talking about portfolio loans. I literally called up my banker on a portfolio loan that I have. And I said, hey, look, the interest rates have dropped. I'm at four and a half, what can you do? He goes, yep, no problem. Let's do a loan modification drop you to three and a quarter. How's that sound? I was like, great. And yeah, you try that with a bank of america or wells? I mean, go through a whole refinance process, pay the points, do the song, do the dance. I mean, it is just such a different experience with a portfolio lender, and one that I'm a huge fan of. Chris: Yeah, we see that relationship, you could make that call, you could literally call somebody you have a point person, you could call, you can ask the question. And it's simple, how easy it was to get the answer that you needed, because you have that relationship based business. And that's how that's how all businesses should scale. But once you get to a certain point, you can't reach all people. And honestly, if you want to feel like a concierge level service, that's the kind of lender you got to be with. Michael: Yeah, yeah. So in Chris, in talking about this, I mean, I know that portfolio loans are amazing. community banks are really great relationship partners. What's the difference? I mean, we talked about the relationship side, we talked about kind of the structuring of the loan itself. Why would why wouldn't everybody go to a community bank as opposed to their their big banks and down the street? Chris: We start with this a lot. I mean, obviously growing a bank getting the answer that question is vital to us growing and scaling, right? And I'll tell you that there's the perception, particularly after the Great Recession, where everybody said, you know, hey, these banks could fail, I can lose all my money. Let's put that to bed right now, every bank has FDIC insurance and FDIC insurance and watering this down is good for about $250,000 per account, you have more than more money in that account. There's no guarantees on that on the insurance. And people are always worried about runs on money could this bank fail. Banks are very highly regulated, whether that's the you know, the Federal Reserve, the FDIC, the DEA, FBI in California, wherever your regulators are, they're very heavily regulated their capital requirements, there's all sorts of significant things that banks have to go through in order to make sure that they can last. So once you dispel with with the idea that banks are gonna go under, or they could go under, they're perceived as riskier. You have to deal with with the value proposition of these brands. Wells Fargo Chase, be vague, they are the Coca Cola of the industry. You walk into a restaurant, you say give me a coke. People think banking, they I'm gonna go to Wells Fargo, I'm gonna go to Chase they do it because these places have brick and mortar locations on every single corner. And these brick and mortar locations are highly visible. Do you see them when you drive through in your neighborhood your friends go there you see people coming in and out. They're right next to a restaurant, it's easy to be intoxicated and fall in love with with that location and proximity and think that you got yourself a better situation but in reality, other than the fact that you can walk into a bank, you're generally not going to get better service as a matter of fact, the smaller community regional presences usually have a direct number like the contact you share your experience, right? usually have people who you know if you want to talk to someone like me, the chief credit officer Just give me a call. I share my mobile number with everybody and I've had a number of people call and complain that They didn't get the loan they wanted. But nonetheless, it's but i'm open, you know, and we're, you know, we're not a small institution anymore, we're about 7 billion in size, maybe a little bigger. And, you know, you can still reach out and talk to me, you can ask me what happened, and I'll explain it to you, you're not going to get that with the wells, the chase in vivo, people feel like that brand, that brand name, that value proposition in them being big, makes them safer, or gives them a better product. And I can tell you that it really doesn't usually get a lot better product, because the product is designed and fits your needs. And you have the ability to reach out connect to people that at a smaller community regional bank and the world's digital now, we talk a lot about cryptocurrency, well, the US dollar is effectively digital people move it around all the time. And I can tell you that at a bank that's online heavily and not so much brick and mortar, they're not paying those massive leases, they can afford to give you better rates. Michael: Yeah, so I mean, that's that's segues really nicely into my next question, I was gonna say, Well, if you're getting a better service, it must be more expensive, right? If I'm going to go get a portfolio loan, I'm probably gonna be paying a lot higher interest rate than I would at a Wells or a Chase, right? Chris: Yeah. So when you're, when you're selling them a secondary market, like Wall Street would be evey. And you're pricing your portfolio, you're pricing the portfolio with how much can I sell this for in the secondary market, I'm going to package it together in a pool of loans, I'm going to sell it off in a security. And that's security's got to have a yield to the investors. And that yield has to be in line with market, otherwise, they get paid a discount, or they have to pay a discount for the person to buy from them. Or if the rates really good, they get paid a premium for them, you know, for the Wall Street to buy this, you know, pool of securitized assets from them. So they're always thinking with that in mind, where a portfolio lender is thinking about the weighted average coupon of their portfolio and how they can get the best return for their investors. And if they're publicly traded for the shareholders. So believe it or not, that's a lot easier decision. When you're looking at putting something in a portfolio, you're thinking about a relationship, right? If our biggest challenge is not pricing business, it's getting business, I'm gonna price the business as good as possible to get your business to win your relationship. Because I want you as a real estate investor to come back and do another one with me. And I know it's gonna be difficult for you to go to a, you know, a regular bank and a regular size, you know, Wells Fargo B of A chase these big names, I know, it's gonna be difficult for you to do that. So I'm going to try to do my best to win your relationship on price, because that's the one thing I really can compete on that and obviously, the exception side. So you're actually going to pay market if not a little bit less than market with some of these banks. Michael: Interesting. So as someone kind of getting back to who is the ideal candidate who's for lending? How can somebody start to form that relationship with a local portfolio lender with a community bank? I mean, I'm a guy, I'm just getting started, I might not have any deals under my belt. I walk in there. I mean, has anybody give me interested in even talking to me? How does that work? Chris: Yeah. Yeah, that's, that's a strange question I get all the time. So I spent a lot of time traveling around talking to kids about financial literacy. And I get this question all the time. Like You I don't have any relationships? I don't know anybody. And I'm like, you got a checking account? Right? Yeah. Can you have a relationship with a bank? Now, if they don't value your relationship? And you don't know anybody there? You should probably move that relationship. And they're like, Oh, well, how hard is that? It's funny, we don't really set up bank accounts, unless you're a real estate investor or business owner. And even if you are a business owner, you're not setting up bank accounts, like every day. So you're like, Oh, my God, do I just take the money out? Or just close it? Does that affect my credit? No, it doesn't affect your credit, you take the money out, and you just go open up another one after you close your account with your local bank, and then you start building that relationship. But very few people actually ask me that question on a daily basis when they're just getting started. And I wish they would. The easiest way for someone to get started with a bank is to find a bank that does what you want to do or specializes in it. There are banks that specialize in small businesses, there's banks that specialize in real estate, find the bank that fits the profile investor you want to be, and then ask them, Hey, what are your internal guidelines? What do I need, I want to buy this property, I want to buy a property that looks like this. And those bankers will tell you, because they want to win your business. They want to nurture that relationship. So what I can tell you right now, if you're a first time real estate investor, and you want to get out there and you've got a primary residence, make sure you have an excess to cash flow, pay down your debts, do the simple, logical things. Don't look to the crazy stuff. I hear this all the time. The weird advice, don't borrow from your 401k or your retirement Don't, don't borrow money on credit cards, be smart, be reasonable, be prudent. It's short term pain for long term success. Michael: Love it. You know, in talking about banks that specialize I'd love to know when you started the bank, like what problem you're solving or what, you know, what sort of, I guess opportunity that you saw, kind of on the other side and starting the bank? Chris: Well from the lending side, so I serve as the chief credit officer and my main function is to design a credit program which would enable us to grow and scale at an accelerated rate while being prudent in sound in our investment decisions. And we refer to loans as investments in such a way that that we could accommodate a very robust business in the state and our local proximity for us. I happen to be multifamily real estate. We got the second largest multifamily Real Estate lender in the state of California and we're branching out pretty, pretty significant. We just grew to Dallas, we're looking at a couple different avenues in different states. And we're already in Hawaii in Las Vegas. And we've been able to grow and scale that business by making loans to real estate investors specifically, to overcome the same objections, we've been talking about the same problems that they first time real estate investor challenges that are there, those same problems, the same problems that 100 unit apartment owner has, you know, they want a relationship based business, they want to be able to deal with as little hurdles as possible. And they want to get to the brain trauma of a real estate transaction without feeling like somebody just you know, gave them a colorectal exam. And sometimes, sometimes getting alone can feel that way. Yeah, I had a kid you not on my own personal primary residence, I went through a lender whose name shall not be mentioned. And it took them five months to go through my entire portfolio of real estate and come back. And they asked me for more information, five months, this process back and forth, I literally hated that phone number, when it popped up towards the end, like I didn't want to talk to this person, I was ready to pay whatever rate possible to not deal with him. But so that was a problem we were trying to solve is you have to, we don't sacrifice, credit quality for price, but what I will give you is one of the best experiences in lending realm that you could possibly ask for, you know, we're gonna give you that concierge level service, we're gonna give you the value proposition that you as a seasoned real estate investor deserves. And we're going to build our brand of the fact that you get a great product, you great service. And you know how to get a hold of me? Sadly, yeah, but yeah. Michael: It's so funny, you mentioned that I talked to folks all the time about, look, it's important to get a great product at a great rate. But if you literally want to bang your head against the wall, every time you have to call this person, it might be worth paying a little bit more just to have just to get the deal done or to get the service. I mean, so it's so prudent and so timing that you're mentioning this? Chris: Well, yeah, and I'll say that, you know, that real estate hasn't changed much in the last 50 100 years, like we still use this archaic methodology. And it Look, I'm a real estate agent and a broker as well, I do that on the side from a friends and family. And you know, I really love the business. It's its passion project. But what I do is really outdated, why I would get paid two and a half percent, or somebody else would get paid two and a half percent. I understand this industry norm, but by today's technology standards, there's got to be a better, more efficient way in lending is way worse. When the way we do things, you think about all the things that we're giving somebody, this is all digital, your tax return your financial statements, you should be able to just log in and plat and send them over. And everybody has that they have within a couple of clicks. But it doesn't work that way. And the underwriting process is still not, you know, it's not electronic. It's not AI, it's an individual looking at these things, asking questions, and things get missed. It's a very, very painful process. It's shocking to me to this day that it hasn't changed so much in the last 50 years. I hope that it has changed coming that'll make our lives easier on the real estate side. And maybe the blockchain is the solution. We can buy and sell real estate quickly. But it's painful. And there's you can grow a business to billions of dollars in size. If you can just give exceptional customer service and be weary of people's frustrations like your own. How crazy is that? Michael: Yeah. mind boggling. I know. Tom: I'm thinking of some other questions. It's just keep popping up. So you know, as the chief credit officer for the past 14 years, has, how much movement is is there in the underwriting? I don't know criteria or things that you think about. I mean, we've had such a wild run over the past, I don't know, you know, 10 to 12 years, and then there was the depot, like, I'd love to hear how it's how it has evolved and the underwriting either criteria or let you go ahead and just riff on that Chris: You didn't No one's ever asked me that question before. So kudos to you, I will tell you that it has evolved a lot. particularly around the 2007-2010 range, people were freaking out because of the great recession. They're like, Oh my god, what's going to happen? And it's actually comes right up to just a, you know, lettuce last year and what happened with the pandemic? So, in normal response, okay, banks look at investment, real estate from a cash flow perspective, if you're a one to four, you're still a single family, they're still looking at your cash flow, as opposed to the property's cash flow, cash flow. And the only way to really look at your portfolio cash flow is look at what was on your historic tax returns. But when you get into some of the bigger properties, and you start looking at, you know, five plus units, they start looking at the cash for the property First, the equity the property second, and then you as a sponsor guarantor, if it's a full recourse loan as a tertiary source of repayment. So the policy that we have set forth in the credit policies is very broad overbroad document in all banks have a credit policy, but really what what gets tweaked the dial the dials that get tweaked are things like your policy and procedure underneath that your guidance, the suggestions for daily activity and if you're an underwriter and you're working on something, what do you look at? So believe it or not the de minimis dollar amounts and like things like debt service coverage ratio, the cash flow on the property for every dollar in cash flow, you know, your expense, that ratio, that hasn't changed a whole lot and the credit policy, it's always been a certain de minimis number for like multifamily. Let's say wonderful. On average for a little bit in 2007, you saw lenders go up to 125. They wanted to build in a little more cash flow reserve. But really what's changed has been kind of the the rate that we use to qualify you on the multifamily side. And on the single family side, it's been the optics and things like investment properties. And the reason why those things have changed. They figured out that when things get bad, like in a pandemic, is an investment property more risk. Probably. If you have a higher qualifying rate on a loan, that means you actually have more cash flow in reality coming into your pocket, you're probably going to have you're probably going to bear through the financial wherewithal of a storm and the perfect storm was the recent one. In the multifamily world a pandemic happened right, then you have eviction moratoriums, and people like oh my god, am I not going to collect rents? And Moody's and costar and reason everybody came out and they said, Okay, well, you know, what rent collections on the first of the month have gone down to about 70 80%. And people freaking out in banks had a knee jerk response, they wanted to see things like more documentation of tenants being there are they paying so now they're asking for updated bank statements, they want to make sure that you're you're accurate, tenants are actually paying they're not, you know, somebody who's taking advantage of the eviction moratorium. That became an additional level of scrutiny, that was not really a policy based thing. But that was just how it operated. But believe it or not do the rest of the month, when you start looking at rent collection through the month, not as opposed to just when it's due on the first you're still above 90%. So a lot of this knee jerk reaction that banks were taking sounded like a real conservative methodology sounded smart sounded great. But in practice, people were still getting paid and eviction, which moratoriums across the country. And there are some people who I'm sure were impacted significantly, but the large majority of operators did, okay. So it's constantly fluid, they're going to try to do the most prudent thing they can in a market while still being able to lend. It's very rare that regulators will step in unless you're a troubled bank or troubled lender and say you have to do X, you have to do y. The most recent example of that was the Dodd Frank Reform Act on the single family side, which is why ability to repay or your ability to buy a property is so critical. banks and lenders get really judged on that. So they have to make sure that you really can pay for this mortgage, because prior to that, people were getting stated income loans, they really couldn't qualify for it. There was no income verification and things were getting kind of nutty. Well, today, you really, really can't do that they have to find a tangible way to show that you have an ability to repay. No, a long winded answer Tom. Tom: No, no, I like I mean, that's great. I was just thinking, you know, as a, like a lending company, man you have most ever, like really great insight on like, what that, you know, these multifamily is through the pandemic, their ability to pay back their loans. And, you know, we've talked a couple times in the podcast just amongst ourselves that there hasn't really been that big of an impact on our portfolios that we have. And that's interesting to hear you say, you know, maybe it's just the timing of the payback has been, I definitely get that there was probably people who who have had issues, both and be able to to pay the rent themselves and then be able to pay the loan. But we don't know we haven't been as impacted by it or haven't haven't noticed it. Chris: So I'll tell you this as a metric. And this is public knowledge, my telling you that you don't know we have a portfolio of several billion dollars in multifamily. Obviously, we are the second largest lender in southern Southern California. So we have a lot. I don't think I had a single deferral in our portfolio. And if we did, it may have been one out of the entire portfolio, somebody that called and requested a payment deferral. I will say that certain people like agency lenders, Freddie Mac, for example, happens to buy the majority of the multifamily debt on the secondary market, they had a very loose policy as it relates to this, what they did is, if you call them up and said, Hey, I need a payment deferral, they would give you one and then you had 12 months from the expiration of the deferral, usually around three months to pay all that money back that you deferred, a lot of multifamily guys heard that and I'm like, that's just gonna increase my cash flow, you know, issues in the next 12 months, or they just come out of pocket for it and move on. And they didn't go that route. Me personally, I didn't have any any issues, my tenants other than some slow pay. And a lot of and I know it sounds insensitive, that, you know, we were saying that didn't really impact the market and people weren't hurt. I'm not saying that you guys aren't saying that. What I'm saying is, is a lot of people took those stimulus checks, and they paid their rent, they pay their mortgage, because that's that's where they live shelter is the number one vital thing that we need next to food and water, right. During this whole time, there's been a tremendous amount of insight into how the portfolio reacts and how it's responding. I another thing that I thought was really interesting, was with the remote work environment, right? Like, Oh, my God, people are gonna leave these dense areas. Is that going to affect my properties that are in denser, more metropolitan areas? And shockingly, No, I haven't seen rents decline dramatically. I haven't seen any of those things. A lot of the portfolio that I've seen, I haven't seen those things happen. Not saying that they won't, but as it sits right now, there has not been a detrimental impact on multifamily in I know that drives economists crazy, but that's just the real world. Michael: Yeah, similar for me with my multifamily portfolio in the Midwest. I know that in San Francisco and New York, kind of along the coast, there was a little bit of Exodus and a little bit of dampening effect but I'm sure it sounds like in Texas as well. It was in Oklahoma things were just skating along have just fine. Chris: Yeah, there was a little bit of an influx, you know, some of my stuff I decided a long time ago. And you know, this is not really a banking lending thing. I decided that Southern California real estate couldn't return me the money that I wanted from a pure cash on cash return perspective, if you want to look cap rate, look at that. But in the Midwest, I could go in and buy something for 45 $50,000, get a four bedroom, you know, four bedroom, two bathroom place, and rent it out for you know, call it 1600 to $2,000 a month with a really nice newer home, you know, post 2000 build. And it just made so much sense from from a cash on cash return perspective that we really decided to branch out in those areas. Well, those areas happen to be really highly desirable in the pandemic. So I kind of lucked out in that sense of what happened. But yeah, it was definitely different myself in Southern California, you know, maybe slow pay a little bit. But, yeah, it's shocking to see from a lending perspective where we have all this aggregate data coming in, and we're very, very debt data heavy as an institution, to have all this information coming into us at all times. Really kind of dispelling with the fears that are that the media are running with, and that you have out there. And new investors get thrown off by this, right? Because what, what's the number one that stops people from doing number one thing to stop you from doing things is fear. Right? And if you're a real estate investor, this is a very scary last year. Like what do you do interest rates are super low, there's bidding wars breaking out on properties, you know, everybody's saying the the property values go up next year three to 5%, you know, I should buy I should buy right now. But there's this whole I can't I rented out thing. I don't see any data that backs that fear up. Tom: Kind of kind of unrelated. But I think with your experience and kind of position that you're at, I'd love to hear your thoughts on the business of i-buyers. So that's for those who are not familiar, that's companies like Zillow now and open door where they're buying these properties directly and, and then selling them. So it's almost like kind of an arbitrage these these large funds that are buying and then selling it for me that just doesn't seem sustainable, like in that where there are downturns like I don't know how those businesses survive. Anyway, just from your experience in position, I'd love to hear your thoughts on that. Chris: You know, I, I spent a good amount of time geeking out on ibuyers. And just trying to figure out if I was missing, I have the same kind of conundrum that you do, right? Like, it doesn't seem sustainable, like what's going on here. So I spent any egregious amount of time my wife was killing me every single night. Because like I couldn't, I couldn't get off it like I just it boggles my mind that this is a platform that I don't understand, I'll tell you that, from my experience, buying a home is a very personal thing still. Even if you're a real estate investor, the tangible relationship that you that you have means something to you, if you look at a home on paper, and you look at the numbers, it's really hard to make that judgment call. But physically being present or seeing it or, or connecting with the property of the people that you're with connecting with, it makes that a much more intimate personal decision. It's not like opening up an account and buying some stock, right? You have there's some steps along the way. So because of that, I don't know that there's longevity in the process, we are coming into a new generation of buyers in that you have the Gen Z that are kind of getting to that. getting to that point, people are definitely waiting longer to buy that could just because the cost of housing is going up. But i-buying is a sensational topic, it sounds great in theory. But as a guy who kind of caters to a lot of those types of buyers, I can tell you that a lot of them want to talk to somebody and say, Hey, you real estate agent or you you know, attorney is right, what am I doing? Can I do this? Can I do that? You know, can I waive my contingency on appraisal? Is that crazy? It sounds crazy. Do I have a financing contingency? What What is that? They want to be able to walk that through in the ibuying platform is based on scales of economy, right? You have less individuals, you have more people in an online platform and less people to talk to. Think about it like eBay. Right? You can buy real estate on eBay like she used to. But back in the day, do you really want to do that? Or do you want to pick up the phone and call somebody and have a tangible conversation? And sadly, everybody that I've spoken to from a cultural perspective feels better with the individual? Why do you think real estate agents can still command is you know, 5% of a transaction on average or 4%? It's because that that person's value to the transaction is being that conduit and sometimes you're a psychologist, you're just listening to people's emotions. So the i-buying stuff from a scale perspective, it's interesting. I think what's got a lot more viability are syndications, and we've seen a lot of those as of late, you know, I think you see a lot of the online buying platforms that are that are interesting. What I haven't seen, I think is a phenomenal idea that somebody has really done. He's real estate property managers really need to find a way to get buyers in the market and be a property manager first. You know, not an equity partner and just a property manager first, I think you could drive a ton of business that way, right? If you're a property manager and your real estate agent and you're bringing in business to investors. I mean essentially it's like wholesaling with a license. You know, and you could bring a ton of business that way I think that's got a lot more legs on it as the you know, the time comes I don't think ibuying is the way the future at least not until perhaps the blockchain takes over in the transactions a lot more seamless because If you have a lender. Tom: I love how full circle we went on the relationship currency on, you know, as well as the kind of like, you know, a version and fear of making mistake. Michael: Yeah, Chris, the last thing that I want to chat to chat with you about or kind of ask as we try this episode kind of been building this profile of an ideal real estate investor from the lending side. So the relationship side, and now on the credit side, I'm just curious, what things can folks do to help boost their credit so that they're qualifying for the best mortgages? And then secondary? Are there thresholds or goals that people should be looking to hit in terms of their credit score? So if I'm, again, that new investor, maybe don't have a lot of credit history, or have a little bit of low credit? Where should I be shooting for what should my minimum goal be and then also, what things could I physically do to help myself get there? Chris: So yeah, Chief credit officer, this is the question I get the most. And I can tell you, there is an ideal profile. And there's a lot of there's a lot of kind of that old mythical information out there. That doesn't make any real sense in the real world. But we believe it to be true. First of all, real estate property owners, if you own a lot of real estate, they typically don't have the highest credit scores. So if you're aiming for an 800 FICO, you're probably not a real estate investor. Because here's what happens is one of the things in the algorithm that takes into account these for scoring purposes, is that your total overall debt to your available credit matters, right. But if you're a real estate investor, your job is to use leverage to build cash flow and build them to bigger real estate portfolio with time. So you're naturally going to have higher usage of credit and a lot more trade lines as it relates to mortgages, at least until you get into the commercial world. They don't show up the same way, then most everybody else, so a lot of real estate investors that are seasoned successful people, they also get sued by tenants too. And that can show up on your credit score depending on how it works. And depending on what kind of lawsuit it is. So if you're aiming for a perfect credit score, don't put too much pressure on yourself. Don't do that. There are little things you can do. Little thoughts that that that have just kind of crept up in society, the idea that credit is bad is probably the worst that had to dispel with credit is not bad. Okay? People tend to use our debit card and think it's a credit card, don't do that. Use your credit card, pay it off every single month, build that trade line up, closing trade lines, closing a credit card, closing an account and paying it off actually does bring your score down. So be cognizant of how many credit cards you have, how many trade lines you have, and keep them out there. I have people on one side of the spectrum that come in with zero debt, high net worth clients, celebrities, they paid everything in cash, and they're like, Chris, why is my FICO like five? The answer is, you don't have any credit. No one's ever sending you any credit. You've never used it. So the algorithm is outdated. The algorithm that Experian Equifax and TransUnion these three private entities use is really outdated when you think about it in the context of Airbnb. And you think about Turo, and you think about other ways people can live their life now without actually having to use credit. And it's shocking to me that we haven't updated the algorithm because it's such a baseline part of our society, there are companies that are working to change that with AI and future forecasting of what you will spend versus what you have spent historically looking forward versus looking back. What I can tell you right now is you have to, you have to build credit, you have to be strategic about it, you have to plan to spend with credit, use it pay it down with time, and you have to plan to have a FIFO in and above around Scott 720 720. and above, you're going to get great excellent rates there, you don't need an 800, FICO anything above 720. And you're going to get anything call it up 680 to 720, you should getting great financing, but it's not the absolute best rate in some circumstances. But that's what that relationship base bank will help you out that credit union will help you out, you know, their flexibility to give you a top to your rate at 680 or 700. FICO versus the 720 in their little matrix is a lot greater. And they probably will if you if you ask them for it's as simple as you calling and asking for that modification. Another Another great thing about credit that I think people get confused about is, you know, they, they pay off all their debt. And this is so great, I paid off all my debt. And why is my FICO score like 100 points lower, it's because you're not actively using credit anymore, even though you had it and it was there. So maintaining your credit is kind of more art than science in some ways, you have to understand the algorithm. If something's on your credit report. Typically what I tell people call the agencies dispute it look into it, they'll tell you how to get it off your credit report, they'll tell you the steps to do, you can go hire people to do that. It's a very predatory industry. So be very, very careful if you do do that. But maintaining your credit is the first thing you should do as a real estate investor, make sure you understand it, make sure you build it up. If you don't have a bank that you trust as a partner going forward, you should find that bank. If you do those two things and start to build income over time, you'll be able to buy a piece of real estate a lot easier than you think. But it's not going to happen overnight. Tom: I had a gym, a gym membership or an auto payment and I cancelled it. And they they and so I took my payment method out but they still charged me for like a cancellation fee. And they sold it you know, to another company for debt. I think it's like 50 bucks. And when I you know was buying my personal occupancy, I get this notification from my bank like oh, were you a member of total fitness and I'm like, Oh my gosh, so yeah, begrudgingly like sent them a check for $50 or whatever the stupid fee was. Chris: Well at least it wasn't Planet Fitness. I mean, you That's there you go one. Yeah, you know, it could have been it could have been that but yeah a lot man these little collections will show up and you can pay them off and then but generally when you pay them off, they won't remove them entirely. What I like to do is tell people what to call and negotiate that with the person who owns owns accredited Look, if you if I pay you off, you have the right to deal with the original creditor if you want to, even though they'll tell you you can't you have that right. But you can leverage Look, I'll pay you I'll pay it off, just get it off my credit report, but call the credit reporting agencies and dispute it and a lot of times you'll find resolution there but yeah, it's and if you had that big box bank that wells chase b of A, they're gonna want a letter of explanation. Nobody knows I've written over the years those are fine. Chris, why didn't you pay this $20 account? Probably because I didn't know it existed guys. Yeah. Michael: This was a lot of fun Chris and if folks have more questions for you want to reach out to you or your bank? I mean, what's the bank called? How should they get in touch with the banker you? Chris: Yeah, first foundation bank. You can look us up online. We're the only one that I know of that name. So you can't miss us. You can also find me on my socials I'm very easy to get access to it's just my first and my last name. Chris Naghibi on everything Tick Tock. You know everything. Instagram, you name it. I'm on it. Tom: Awesome. Tom: Thank you, Chris. Chris: All right, guys. Likewise, take care. Michael: Alrighty, everybody, that was our show a big big, big thank you to Chris and first foundation bank. This was a lot of fun. We totally geeked out on some lending stuff. Hope you got a lot out of it. I know I did. If you like the show, please feel free to leave us a rating or review wherever it is using your podcasts. If you're catching this on YouTube, feel free to hit that subscribe button beneath you. And we look forward to see you on the next one. Happy investing
In this special edition of OA on Air, Seven Letter Partner Ann Murphy talks to Brookline Bank Chief Credit Officer Bob Rose about the local economic outlook and the impact of the pandemic on the major industries in Greater Boston including financial services, housing, higher education and commercial real estate.
How can you be sure your investment isn't funding a scam? It's a concern for a lot of investors. In today's podcast episode, we interview the Chief Credit Officer of EstateGuru, Andres Luts about the due diligence that EstateGuru undertakes in order to keep investors' investments safe, and the red flags they look out for. Learn how to earn passive income by investing in EstateGuru in our EstateGuru review on https://p2pempire.com/en/review/estateguru Show your support of P2P Empire by inviting us for a coffee: https://www.buymeacoffee.com/p2pempire
In a recent interview with RMA Communications Manager Stephen Krasowski, Doug Ernest, chief credit officer, United Bank, shared his perspectives on unique credit challenges during the COVID-19 pandemic. Have a smart phone or tablet? Subscribe for FREE to our podcasts on Apple Podcasts, Spotify, and Google Podcasts. For podcast sponsorship/advertising opportunities, contact Jennifer Covington at RMAsponsor@rmahq.org.
In this authentic, engaging interview, Beth chats with industry thought-leader Scott Thurman, Chief Credit Officer, HUD Lending at Greystone, who's responsible for over $1 billion in FHA lending in the sector. You'll hear Thurman's insights on the state of the industry today, suggestions for growing talent in seniors housing, his personal and career influences, plus his Lego collection!
Ed Pinto, Director of the Housing Center at the American Enterprise Institute and former Executive Vice President and Chief Credit Officer at Fannie Mae, recaps his March 2021 testimony before the U.S. Senate Committee on Banking, Housing, and Urban Affairs. The Urban Lab is a non-partisan program featuring leaders in private industry, public service, and academia, who join us to share their views on improving all aspects of urban life, the competitiveness of cities, the housing market, and urban epidemiology and public health. The views expressed by guests are not necessarily those of the hosts or producers. For more information about the Urban Lab podcast and Dr. Sam Chandan, please visit samchandan.com/urbanlab. Follow Dr. Chandan and the Urban Lab on Twitter at SamChandan and UrbanLabPodcast.
Learn more about boosting your credit, careers in banking and more with Chief Credit Officer Jason Bledsoe.
In an interview with Commercial Bank of California Chief Credit Officer Christopher Colella, Darryl Fess, President and CEO, Brookline Bank, and Fred Daniels, Chief Credit Officer, Citizens Trust Bank, discuss their perspectives on loan portfolio management during the pandemic. For podcast sponsorship/advertising opportunities, please contact Adam Lennon at alennon@rmahq.org.
In this episode of ESG Talks, KBRA's Chief Credit Officer, Pat Welch interviews Stephen Pacala and Don Bain. Stephen Pacala is the Frederick D. Petrie Professor in Ecology and Evolutionary Biology at Princeton University. His research focuses on systems ecology, climate change, and the global carbon cycle. He is the founding director of Climate Central, a nongovernmental organization focused on climate change communications. Don Bain is a Senior Advisor at Climate Central. Don is an expert on climate change and the implications of sea-level rise and has advised municipalities on adaptation, risk management, economics, and finance. Steve and Don will discuss two recent studies, the Net-Zero America Project and “Accelerating Decarbonization of the U.S. Energy System.” The Net-Zero America Project, or NZAP, is a Princeton University study that outlines five distinct pathways that could decarbonize the U.S. economy over the next 30 years. “Accelerating Decarbonization of the US Energy System,” commissioned by the National Academies of Sciences, Engineering and Medicine, provides a policy blueprint for the net-zero transition.
Fintech@Kellogg’s Anna Xie and Hardik Tiwari speak with Kellogg students Malavika Chugh and Sunil Gowda about their career journey in fintech startups, Jefa and CreditNinja, and discuss current trends in the industry.Malavika Chugh was a Credits Markets Manager at Lending Club and she is currently the Chief Credit Officer at Jefa, a digital bank targeted at women. Sunil Gowda will be returning as a Product Manager full-time at CreditNinja, a fintech company focused on providing fast personal loans.
In this episode of ESG Talks, Emilie Nadler, an associate in KBRA's ESG and credit policy team, moderates a conversation between Pat Welch, Chief Credit Officer and Head of ESG, KBRA, and William Cox, Global Head of Corporate, Financial and Government Ratings. They discuss our firm's approach to Environmental, Social and Governance, and more.“We do not plan to ask our credit rating analysts to step into the fray of creating ESG ratings or ESG scores. We do, however, continue to strengthen [analysts'] focus on material, quantitative, and qualitative, E, S, or G factors that impact credit. And that's because we believe that rollup ESG scores by their nature are based on a significant number of subjective, value-based judgments about how to weight and score factors that don't correlate with credit risk.” - William Cox
Patricia Dunn of Merrill Lynch talks with Paul Mitchel, Chief Credit Officer of Upland Business Capital, LLC about investments and … Read More! The post Money Matters TV #20-47 Krass appeared first on Money Matters TV.
The pandemic has resulted in a challenging economic landscape for many businesses and individuals. At the same time, after a second quarter disruption, the financial markets rebounded and several markets have reached new highs, raising questions about the potential for another market downturn.In our podcast, experts from Brookline Bank and Fiduciary Trust Company discuss their outlook on the economy and markets and help you stay informed and prepared for what may be ahead.The panelists are for this podcast are:Darryl Fess, President and CEO, Brookline BankAustin Shapard, President and CEO, Fiduciary Trust CompanyHans Olsen, Chief Investment Officer, Fiduciary Trust CompanyRobert Rose, Chief Credit Officer, Brookline BankAccess the video version of this podcast (which contains closed captions for the hearing impaired)Access additional Fiduciary Trust Insights
If you are applying for a loan for your RIA business there are a few red flags and deal killers you should avoid. Jayne Christian, President of Lending and Robert Perry, Chief Credit Officer of SkyView Partners join Mike Langford to share their advice for RIAs seeking loans for M&A, business growth, or succession.
In this episode of the Week in Review, Rusty Halvorson visits with Sherry Koch, Mosaic Company technical sales manager from Moorestown, ND, about regional crop conditions and what producers should be scouting for in their fields. Rusty also visited with Jim Franceschetti, product manager for harvesting at CNH Aftermarket and Scott Cooper, Aftermarket sales representative with Mud Hug, about tackling tough harvest conditions with equipment innovations. Also this week, we have an update on land values with Tim Koch, Executive Vice President and Chief Credit Officer at FCSAmerica.
Lei Chen, Chief Credit Officer at Lenovo Group discusses the management of trade credit and supply chains on a global scale and the impact of COVID-19.
In today’s digital world, consumers want fast, easy online transactions – and this has become more apparent and necessary in light of COVID-19. With automated and digital solutions lenders can provide a more electronic experience, cut costs, close loans faster and simplify the loan process while reducing risk for everyone involved. In this episode, Terri Merlino, Senior Vice President & Chief Credit Officer, David Fulford, Vice President, Strategic Technology Integration, and special guest, Tamara West, investor specialist with client partner, nbkc bank discuss Loan Product Advisor® asset and income modeler (AIM) and how it has made a difference during this heightened time of need.
Airlines and Dinosaurs… Fighting off extinction! How does the industry rebuild? With so much uncertainty, it will be difficult to plan a way forward, but it's not all doom and gloom – people WILL want to travel again. We just have to figure out how to stay afloat until demand fully returns. Leasing industry veteran and CEO / Chief Investment Officer at Warbird Capital LLC, Nick Pastushan joins me to discuss the future of aviation in a time of uncertainty. Think of it like this: COVID-19 is like the asteroid that knocked out the dinosaurs. All parts of our industry's ecosystem are at risk. -Nick Pastushan Three Things Nick and I Discuss: The aviation industry will take flight, but we have to be prepared for intense restructuring to get us through “to the other side.” OEMs should take this time to go into hibernation. Even with all the skills and tools to keep producing, it's a good idea to put a pause on operations until there's more clarity in the industry. Once borders reopen, consumers may be hesitant to board flights. But, they will still want to see the world! Learn More About Your Host: Co-founder and Managing Partner for Northstar Group, Craig is focused on recruiting senior level leadership, sales and operations executives for some of the most prominent companies in the aviation and aerospace industry. Clients include well known aircraft OEM's, aircraft operators, leasing / financial organizations, and Maintenance / Repair / Overhaul (MRO) providers. Since 2009 Craig has personally concluded more than 150 executive searches in a variety of disciplines. As the only executive recruiter who has flown airplanes, sold airplanes AND run a business, Craig is uniquely positioned to build deep, lasting relationships with both executives and the boards and stakeholders they serve. This allows him to use a detailed, disciplined process that does more than pair the ideal candidate with the perfect opportunity, and hit the business goals of the companies he serves. Guest Bio Nick Pastushan is the Founder, CEO and Chief Investment Officer at Warbird Capital LLC. Prior to this, he was the Chief Investment Officer and Chief Credit Officer at CIT for over 10 years. Nick holds a Bachelor of Science from Rochester Institute of Technology. To find out more about Nick, visit: https://www.linkedin.com/in/nicholas-pastushan-b954a510
Earl Peebles (Ash Diggs), Chief Credit Officer at Jessie Lou Lending, and Tinsley Shuffield, (Meredith Gordon), Senior Researcher at Encore Afterlife Services, speak with Dean Ardenfell (Nathan Hartswick), an audio documentarian on a quest to interview employees from Hogswood-Cooper Media. The Corporation is an improvised satirical comedy podcast produced by Unicow Media and recorded at the studios of Vermont Comedy Club. Visit www.TheCorporationPod.com, fan the show on Facebook and Instagram, and listen to new episodes every Tuesday. For more info on shows and classes at Vermont Comedy Club, visit www.vtcomedy.com. Links to The Corporation on: > Apple Podcasts > Spotify > Stitcher > Google Play
Bill York is the Founding Partner, CEO, and Chief Credit Officer at FarmOp Capital, a lending company that provides funding primarily to farm operators. Their independent business model allows farmers to decide which suppliers to buy from. Bill has over 40 years of experience in the ag lending space and has held senior positions in various major ag lending companies. He specializes in business development, particularly increasing profits and assets of the businesses he works with. Bill York joins me to describe what FarmOp Capital is and its efforts to provide farmers with a helping hand in receiving capital loans. He explains the trends that make their company ripe for the ag industry and the benefits of doing business with them from a farmer’s perspective. He also shares the criteria and requirements they have for their customers and explains what sets their company apart from traditional lending companies. “If you’re able to get a loan that is timely and adequate to meet all of your operating needs, you’re better able to purchase inputs efficiently to buy the optimum level of inputs and actually reduce your costs.” - Bill York This Week on The Future of Agriculture Podcast: Converging trends that make the industry perfect for FarmOp Capital. How FarmOp works and the services they offer. How soon farmers should seek a loan to benefit the most from them. The customers they are targeting for the loan services they offer. The kind of crop materials they help farmers finance. Working directly with the customer and the team they assembled for the job. Transitioning from big agricultural lending companies to working with a startup. Why it will be difficult to have competition in what they do. The difference between the typical loan application and what they offer. Assessing the current farm-risk situation and his outlook. Connect with Bill York: FarmOp Capital We Are a Part of a Bigger Family! The Future of Agriculture Podcast is now part of the Farm and Rural Ag Network. Listen to more ag-related podcasts by subscribing on iTunes or on the Farm and Rural Ag Network Website today. Join the Conversation! To get your most pressing ag questions answered and share your perspective on various topics we’ve discussed on the Future of Agriculture podcast, head over to SpeakPipe.com/FutureofAg and leave a recorded message! Share the Ag-Love! Thanks for joining us on the Future of Agriculture Podcast – your spot for valuable information, content, and interviews with industry leaders throughout the agricultural space! If you enjoyed this week’s episode, please subscribe on iTunes and leave your honest feedback. Don’t forget to share it with your friends on your favorite social media spots! Learn more about AgGrad by visiting: Future of Agriculture Website AgGrad Website AgGrad on Twitter AgGrad on Facebook AgGrad on LinkedIn AgGrad on Instagram
Bill York is the Founding Partner, CEO, and Chief Credit Officer at FarmOp Capital, a lending company that provides funding primarily to farm operators. Their independent business model allows farmers to decide which suppliers to buy from. Bill has over 40 years of experience in the ag lending space and has held senior positions in various major ag lending companies. He specializes in business development, particularly increasing profits and assets of the businesses he works with. Bill York joins me to describe what FarmOp Capital is and its efforts to provide farmers with a helping hand in receiving capital loans. He explains the trends that make their company ripe for the ag industry and the benefits of doing business with them from a farmer’s perspective. He also shares the criteria and requirements they have for their customers and explains what sets their company apart from traditional lending companies. “If you’re able to get a loan that is timely and adequate to meet all of your operating needs, you’re better able to purchase inputs efficiently to buy the optimum level of inputs and actually reduce your costs.” - Bill York This Week on The Future of Agriculture Podcast: Converging trends that make the industry perfect for FarmOp Capital. How FarmOp works and the services they offer. How soon farmers should seek a loan to benefit the most from them. The customers they are targeting for the loan services they offer. The kind of crop materials they help farmers finance. Working directly with the customer and the team they assembled for the job. Transitioning from big agricultural lending companies to working with a startup. Why it will be difficult to have competition in what they do. The difference between the typical loan application and what they offer. Assessing the current farm-risk situation and his outlook. Connect with Bill York: FarmOp Capital We Are a Part of a Bigger Family! The Future of Agriculture Podcast is now part of the Farm and Rural Ag Network. Listen to more ag-related podcasts by subscribing on iTunes or on the Farm and Rural Ag Network Website today. Join the Conversation! To get your most pressing ag questions answered and share your perspective on various topics we’ve discussed on the Future of Agriculture podcast, head over to SpeakPipe.com/FutureofAg and leave a recorded message! Share the Ag-Love! Thanks for joining us on the Future of Agriculture Podcast – your spot for valuable information, content, and interviews with industry leaders throughout the agricultural space! If you enjoyed this week’s episode, please subscribe on iTunes and leave your honest feedback. Don’t forget to share it with your friends on your favorite social media spots! Learn more about AgGrad by visiting: Future of Agriculture Website AgGrad Website AgGrad on Twitter AgGrad on Facebook AgGrad on LinkedIn AgGrad on Instagram
Daniel Cohen fue recientemente la cabeza de crédito de Mastercard. Daniel se unió a Mastercard en 2007 y desempeñó diversas posiciones cubriendo varias regiones (Norteamérica, Medio Oriente y América Latina). En Mastercard Daniel dirigió un equipo que supervisó la estrategia de crédito global de la empresa. Con un enfoque en la transformación digital y el futuro del dinero, Daniel tiene una visión para innovar productos financieros.
Rita Kuster is a former regulator and banker in the Saint Louis region. During this conversation Rita discusses how regulators monitor banks, why "Too Big To Fail" may never get fixed and the tension that is created behind the scenes in a loan committee meeting.Rita Kuster's LinkedIn PageSaint Louis Bank WebsiteCarl Lippert's Twitter Kate Crosby's Twitter Follow the Vance Crowe Podcast Facebook: https://www.facebook.com/profile.php?id=2154144194875939&ref=br_rs Twitter: https://twitter.com/VanceCroweAbout The Vance Crowe Podcast:The Vance Crowe Podcast interviews experts in unexpected fields and gets them to reveal the discoveries that come from having a knowledge of a highly specific discipline. Vance Crowe is the CEO of Articulate Ventures (www.VanceCrowe.com) a communications strategy company- and he is regularly invited to deliver speeches around the U.S. and Canada teaching audiences how to communicate so that others want to listen, understand and value what you have to say.
Dose of Leadership with Richard Rierson | Authentic & Courageous Leadership Development
Julie Huber joined Equity Bank in January 2003 and currently oversees mergers and acquisition integration and major projects for the $4.0-billion bank in her role as Executive Vice President of Strategic Initiatives. Julie began her banking career with Peoples Bank and Trust in McPherson, Kansas, and soon supervised retail, operations, compliance, training and security functions for Sunflower Bank over 8 years. She has been a member of Equity Bank's senior leadership team since the bank's inception, serving roles in human resources, retail, finance, training, and compliance, as well as two years as Chief Risk Officer, 4 years as Chief Credit Officer, and the last two years in her current role. Julie is an alumnus of McPherson College, with B.A. degrees in Business Administration and History and also earned an MBA from Baker University. She graduated from the Stonier Graduate School of Banking in 2006 and was honored by the Wichita Business Journal as a class member of “40 under 40” in 2008 and Women In Business in 2013. Julie is a 2012 graduate of the Bank Leaders of Kansas (BLOK), sponsored by the Kansas Bankers Association. Julie has previously served as President for the Andover Advantage Foundation in Andover, Kansas, and currently serves as a Board Trustee for McPherson College.
Talking Nerdy w/David Morris • Tower Hour #5......In episode 5 visit with David Morris, the Chief Credit Officer for bank FNBD. We get to hear how he got into banking, what he does now, and what day-to-day looks like in his role at the bank. We can all learn a lot from David.......First National Bank in DeRidder (also referred to as bankFNBD or FNBD) is an Equal Housing Lender and Member FDIC. The information contained in this Podcast, including any expressions of opinion, has been obtained from or is based on sources believed to be reliable but its accuracy or completeness is not guaranteed and is subject to change without notice. Any expressions of opinions by FNBD employees or guests reflect the views of the speakers and are not necessarily those of FNBD and are also subject to change without notice. Reference to any specific product or entity does not constitute an endorsement or recommendation by the bank. If you have any questions about this disclaimer, please contact us toll-free at 844-687-3623......www.bankfnbd/towerhour
At the MBA Secondary Marketing conference last week, it was apparent that investor appetite for non-QM loans is growing at a brisk pace. Qualified mortgage applicants are getting harder to find and the market potential for non-QM borrowers is only growing. It’s estimated by many that the huge swath of would-be non-QM borrowers are likely the future of the mortgage industry. Growth in non-QM lending is predicted to grow by over 400% next year. It’s reasonable to associate increased non-QM lending with a stable NPL and RPL business for the foreseeable future. Joining the podcast to discuss the non-performing asset space is Tom Constantine, Executive Vice President and Chief Credit Officer at BofI Federal Bank. Prior to joining BofI in 2010, Tom was a senior examiner with the Office of Thrift Supervision. BofI Federal Bank is unique in that it is a branchless bank with over 10 billion in assets.
Chad Larson is one of the three founders of the Kenyan solar power start-up M-KOPA Solar. He serves as the company’s Finance Director and Chief Credit Officer and has lived in Nairobi with his wife and three boys since the company launched in 2011. Chad is a qualified CFA and an Oxford MBA who previously served as the CFO of the Africap Microfinance Investment Fund, based in Johannesburg, and prior to that, he spent 10 years in the investment banking division of Bank of America in Sydney and New York, working on fixed income, structured finance, and derivative transactions. M-KOPA Solar is aiming to be a $1 billion company by providing pay-as-you-go energy to off-grid homes. To that end, the company successfully closed a $19 million round of financing led by Generation Investment Management LLP in December 2015. Theme music by Brian Lupiya. Used with permission. Additional music by Kevin MacLeod (incompetech.com)
This week's episode of the African Tech Round-up features a snippet from Andile Masuku's full-length sit-down with Chad Larson-- one of the three founders of the Kenyan solar power start-up M-KOPA Solar. Chad serves as the company’s Finance Director and Chief Credit Officer. He has lived in Nairobi with his wife and three boys since the company launched in 2011. Chad is a qualified CFA and an Oxford MBA who previously served as the CFO of the Africap Microfinance Investment Fund, based in Johannesburg, and prior to that, he spent 10 years in the investment banking division of Bank of America in Sydney and New York, working on fixed income, structured finance, and derivative transactions. M-KOPA Solar is aiming to be a $1 billion company by providing pay-as-you-go energy to off-grid homes. To that end, the company successfully closed a $19 million round of financing led by Generation Investment Management LLP in December 2015. Music Credits: Music by Kevin MacLeod (incompetech.com) Music licensed under Creative Commons: By Attribution
The team at the African Tech Round-up is on break, but while we’re away over the next four weeks, the show will go on! In place of our regular programming, we’ll share sneak-previews of episodes from the brand-spanking new season of the African Tech Conversations series which starts on Friday, December 16th, 2016. The series features the likes of Eline Blaauboer, Managing Partner at TBL Mirror Fund and Safaricom Spark Venture Fund, Chad Larson, Co-founder and Chief Credit Officer at M-KOPA, Simon Carpenter, Chief Technology Advisor at SAP Africa, and more. This week we’re ringing in the Festive Season by sharing moments from Andile Masuku's in-depth conversation with the Ethiopian-born, Dr Solomon Assefa, who is the Director of IBM Research in Africa. Music Credits: Music by Kevin MacLeod (incompetech.com) Music licensed under Creative Commons: By Attribution
So, Episode 80 of the African Tech Round-up, aka the episode that nearly never happened, is finally out. In an interview Andile Masuku just taped for the upcoming season of the African Tech Conversations series, Co-founder and Chief Credit Officer of M-KOPA Solar, Chad Larson, shared words he lives by that epitomise why I’m glad the team didn’t give up on publishing the podcast this week— despite the ridiculousness that made it nearly impossible to do so. “Done is always better than perfect,” he said. So, here it is. There’s no doubt that this has so far been a bumper year for the world’s hacking community. Last week, one of Kenya’s biggest banks, the Kenya Commercial Bank (KCB), spent a fair amount of energy trying to convince its customers that their personal data remains uncompromised-- this, following claims by a certain programmer who goes by @IrakChris on Twitter claiming to have accessed KCB's client data through vulnerabilities found in the bank's mobile app. Meanwhile, Twitter, Spotify, Amazon, Reddit, Yelp, Netflix, and The New York Times suffered easily one of the world's biggest coordinated distributed denial of service (aka DDoS) attacks last Friday which led to the sites either slowing to a snail's pace or being knocked out altogether. For all the details on these stories and more, tuck into this week's show, and be sure to tell us what you make of the week's headlines on Twitter @africanroundup, or via email using hello@africantechroundup.com. Music Credits: Music by Kevin MacLeod (incompetech.com) Music licensed under Creative Commons: By Attribution 3.0 Podcast photo credit: jjackowski via VisualHunt.com / CC BY-NC-SA
(Bloomberg) -- Taking Stock with Kathleen Hays and Pimm Fox.u0010u0010GUEST:u0010Arash Sotoodehnia, Chief Credit Officer at RealtyShares, on how the Fed will affect the economy and mortgages.
Speakers: Maria Boyazny , Founder and CEO, MB Global Partners, LLC Richard Cantor, Chief Risk Officer, Moody's Corporation; Chief Credit Officer, Moody's Investors Service Joshua Friedman, Co-Founder, Co-Chairman and Co-CEO, Canyon Partners, LLC Tony Ressler, Chairman of the Executive Committee, Ares Management LLC Steven Tananbaum, Managing Partner and Chief Investment Officer, GoldenTree Asset Management David Warren, Chief Investment Officer, Brevan Howard Credit Catalysts Fund Moderator: Michael Milken, Chairman, Milken Institute In our annual look at the state of global credit markets, Institute Chairman Mike Milken and leading players will discuss a rapidly shifting landscape. This year, some observers believe we are in the early stages of the Great Rotation - a broad shift in investor preference from debt to equity that would reverse the cycle begun in 2009. Quantitative easing, a favored tool of central banks in recent years, can't last forever. Indeed, the U.S. Federal Reserve balance sheet recently crossed the $3-trillion mark, more than three times pre-crisis levels. What has that thumb on the scale done for credit quality, particularly in mortgage markets, where the Fed owns $1 trillion in debt? As central banks slow their purchasing, will corporate borrowers feel the side effects? Should we worry about the return of covenant-lite loans? Are early signs of rising default rates about to change the picture for credit availability? And what role will towering sovereign-debt levels play in fixed-income markets this year?
This is the panel 3 of the inaugural conference "Institute Paper Series in Applied Finance" presented by the Zicklin School of Business of Baruch College and the Capco Institute. Terrence Martell, Saxe Distinguished Professor of Finance, Zicklin School of Business, and Director, Zicklin-Capco Institute Paper Series in Applied Finance, makes the opening remarks. Mark J. Flannery, Bank of America Eminent Scholar in Finance, Warrington College of Business Administration, University of Florida, makes the presentation on the future of financial services. The panel is moderated by Nick Jackson, Member, Board of Editors, Journal of Financial Transformation Partner, Capco. Panelists include: Joe Anastasio, Partner, Capco; Michael C. Bodson, Chief Operating Officer, Depository Trust and Clearing Corp.; Scott A. Hill, SVP and Chief Financial Officer, InterContinental Exchange, Inc.; Nicholas C. Silitch, Chief Credit Officer, Prudential; Randy Snook, Executive Vice President, SIFMA. The event takes place on February 9, 2012 at the Baruch College Vertical Campus, Room 14-220.
This is the panel 3 of the inaugural conference "Institute Paper Series in Applied Finance" presented by the Zicklin School of Business of Baruch College and the Capco Institute. Terrence Martell, Saxe Distinguished Professor of Finance, Zicklin School of Business, and Director, Zicklin-Capco Institute Paper Series in Applied Finance, makes the opening remarks. Mark J. Flannery, Bank of America Eminent Scholar in Finance, Warrington College of Business Administration, University of Florida, makes the presentation on the future of financial services. The panel is moderated by Nick Jackson, Member, Board of Editors, Journal of Financial Transformation Partner, Capco. Panelists include: Joe Anastasio, Partner, Capco; Michael C. Bodson, Chief Operating Officer, Depository Trust and Clearing Corp.; Scott A. Hill, SVP and Chief Financial Officer, InterContinental Exchange, Inc.; Nicholas C. Silitch, Chief Credit Officer, Prudential; Randy Snook, Executive Vice President, SIFMA. The event takes place on February 9, 2012 at the Baruch College Vertical Campus, Room 14-220.
Dick Turner, former Chief Credit Officer, ShoreBank, shares his observations of psychological aspects of managing problem loans and treating them as a learning experience.
Dick Turner, former Chief Credit Officer, ShoreBank, shares his observations of psychological aspects of managing problem loans and treating them as a learning experience.
Dick Turner shares his experience on how to prepare and manage an effective monitoring visit. Dick Turner, former Chief Credit Officer, ShoreBank, has been involved in making loans and training credit staff for well over 30 years.
Dick Turner shares his experience on how to prepare and manage an effective monitoring visit. Dick Turner, former Chief Credit Officer, ShoreBank, has been involved in making loans and training credit staff for well over 30 years.
Dick Turner, former Chief Credit Officer, ShoreBank, shares his general observations about underwriting loans. Dick Turner has been involved in making loans and training credit staff for well over 30 years. Much of that experience was spent in the United States but also in a number of other countries, primarily in Eastern Europe.
Management and Mathematics. Dick Turner, former Chief Credit Officer, ShoreBank, talks about the importance of analyzing management capacity when making lending decisions. Also, he provides his thoughts on making alternative projections before writing loans up for approval.
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