Crossroads Credit and Portfolio Management LLC - Loan Review and Risk Management Specialist Interim CCO. Workout and Liquidation Consultants for community and regional banks in the South and Southeast.
What We've Achieved

Richard D. Burleson Crossroads Credit and Portfolio Management LLC

Spec House Recovery with a Little Ingenuity

Residential contractor folded offering a deed in lieu on two spec houses, one complete the other 70% complete.

Both loans were full advanced with numerous trade payables outstanding.

We opted to institute a friendly foreclosure in which the borrower waived its hearing rights.

Once possession of the property was obtained, the bank marketed the completed property which was sold for recovery of full balance and fees.

As is offers on the incomplete house would have resulted in a $200M loss.

We received approval from Bank management to engage a general contractor to complete the other spec house. Terms were a 50/50 split of profits from sale.

Ultimately, the Bank realized a $30M profit.

In each case study, we were able to assist our client Bank from experiencing significant losses. In each case, the Bank's management would have gone in a different direction had Crossroad Credit and Portfolio Management LLC not been involved.

Crossroads Credit & Portfolio Management LLC   |   PO Box 743   |   Elkin, NC 28621   |   336-366-7700