Helping Lenders Achieve Recovery
Maitland, FL-As the default rate for single-family mortgages and construction loans continues to rise, national construction loan management companies are reaching out to help lenders maximize their recovery rates.
TT Lender Solutions here is assisting its clients turn troubled loans into positive cash flow in as little as 21 days.
The company has found profitable recovery solutions for over $1 billion in loans for its clients, including several of the top 10 banks nationwide as well as equity funds.
"In today's troubled asset market, restructuring nonperforming loans is more difficult than ever," said Chaz Seale, vice chairman for TT Lender Solutions.
"These transactions require a detailed coordination effort with special emphasis on execution. We have the experience and capacity that lenders need to close deals and generate the cash necessary to successfully ride out this distressed economic environment."
Despite banks' heightened focus on growing their loan loss reserves, FDIC chairman Sheila Blair notes that they are unlikely to be able to keep pace with the foreseeable trend of continued growth in troubled loans. In addition, Federal Deposit Insurance Corp.-insured lenders saw their 2008 profits drop by 84% compared to 2007.