Experts Forecast “Uptick” in Default Rates for 2007
San Diego, CA - On October 26th and 27th, leaders within the commercial loan recovery industry gathered in San Diego at the annual Trigild Lender Conference to discuss the latest trends in bankruptcy, receivership, loan workouts, and the future of commercial loan recovery. During a panel discussion, Clark Rogers, Sr. Vice President of KeyBank predicts, “2007 will be a more difficult market [than 2006]. It’s going to slow down but I don’t see any huge problems.”
The panelists agree that we’ve seen a period of unusually low commercial loan defaults, and hence, 2007 will likely experience a minor uptick in commercial loan defaults. They also agree, however, that should a significant increase occur, it will blindside the industry. Kevin Donahue of Midland Loan services says, “If it happens, it will be like a bad perfect storm; it can happen and happen fast.” Pat Mooney of Wells Fargo Bank described the same possibility as being hit by a car: “If you saw it coming you would have gotten out of its way.”
Discussions on strategies for non-performing commercial loans were led by key capital management executives and high profile attorneys, including Kevin Donahue of Midland Loan Services, Thomas Deane of Wachovia Securities, Patrick Mooney of Wells Fargo Bank, Clark Rogers of KeyBank, and David Iannarone of CWCapital. “The subject expertise and teaching talent of our panelists really stood out,” noted Bill Hoffman, president of Trigild Inc., “and have helped to elevate the Trigild Lender Conference as a premier educational and networking forum for the non-performing loan industry.”
Attendees included executives from institutions like Deutsche Bank, Republic Financial Corp, Bank of New York, California Credit Union, Archon Group, Principal Global Investors, Capmark, Orix Capital and many other banks and CMBS loan servicers. In addition to being an important educational venue, the conference is a great networking event. “I’m new to the distressed debt market, so this conference is exactly what I need,” said William Merz, Analyst at CarVal Investors, “It really filled in a lot of blanks in foreclosure and receivership.”
The annual Trigild Lender Conference grows every year and is an excellent symposium for the latest information on dealing with non-performing commercial loans. Key figures in loan servicing, law, real estate and distressed debt buyers are gathered to provide conference attendees with one source to cover all the critical issues.