Podcast: The Loan Sales Process

It’s been more than a year since I did my last podcast but I recently learned from you that the number 1 thing you can agree you’d like to see more of from this site are stories from fellow distressed asset professionals who are battling it out in the field, and the number one things that you said would help you to grow your business is learning more about how to find banks with the assets your looking for. I’m pleased to say that I’m kicking off the new professional podcast series with a ‘win’ in both columns.

For this series I interviewed John McCaffrey. John knows so much about the business that we actually talked for about an hour and forty minutes and probably could have talked a lot longer. John works with Auction.com in, 2010 they did more than $2 billion dollars and 42,000 units in distressed asset transactions. John is a 3rd generation mortgage banker who has worked on all sides of the mortgage business you can find his

Rather than subject you to a 1:40 long recording I broke it up into 3 chapters’ or sections, they are:

  1. The Loan Sales Process: John walks us through exactly what he and his firm do to package, present, market, and close loan sales for, primarily, bank sellers.
  2. FDIC Loss Share Agreements: How they impact distressed asset sales at a bank, what it means for this business going forward, and some tips on what you need to do when you’re working with banks that have assets covered under loss share agreements.
  3. Allowance for Loan and Lease Losses: John walks us through this important FDIC call report item tells us what it is, why we care, and how we can use loan loss reserve figures to form a simple ‘back of the envelope’ calculation to determine potential deal volume at with any bank.

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2 thoughts on “Podcast: The Loan Sales Process”

  1. This first installment is quite helpful. Knowing this information will help me bring more professionalism into dealing with my buyers. I know better what they need from me. OK, now on to the second installment.

  2. Thank you for this podcast. This was a rather 30,000 ft view of the business I think. I find your interviews with the likes of Mike Ruscica, Abby Shemesh or Sandor Lau to very useful and illuminating. Candidly, what I gleaned listening to John was “…you might want to reconsider going after these deals because–Auction.com, and its $30 million marketing budget–we’re the big gorilla in the business.” Perhaps as subscribers we’re viewed as competition?

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