Forbearance, Foreclosure, and Force Majeure: Managing Coronavirus Loan Workouts at Your Institution
Lenders have taken advantage of prudential guidance to extend payment forbearance options to customers during the current period of distancing and restrictive measures to fight the initial waves of the pandemic. We have seen several strategies in the market, and this forbearance has taken many forms. Regardless of institution shape or size, some borrowers will be able to catch up or refinance in market-available terms, while others will need significant intervention from their lenders, including actions that meet the notions of credit impairment and troubled debt restructure when borrower hardship persists past the acute phase of the pandemic or energy shocks.
In this sixty-minute webinar, we will discuss the importance of:
- Establishing and applying consistent criteria for decision-making
- Triage and prioritization for stabilizing troubled customers
- Present-value modeling for terms of restructured agreements
- Efficient communication for (likely understaffed) special assets teams
- Integrated processes for secure, distributed decision-making
Garver Moore brings a decade of enterprise software, analytic, and advisory experience to Abrigo’s advisory team. Prior to joining Abrigo, Garver was a Technical Consultant with Accenture, and he later worked with C-suite executives on technology strategy and delivery as a Managing Partner of the Orange Advisory Group. Today, as the Managing Director of the Advisory Services Group, Garver collaborates with internal product specialists on our market offerings and helps clients develop strategies to better navigate federal regulations and optimize their institutions for growth. Garver earned his bachelor’s degree in electrical and computer engineering from Duke University.
Regan Camp is Abrigo’s Managing Director of Advisory Services, leading a team of subject matter experts who assist financial institutions in accurately interpreting and applying federal accounting guidance. He began his career in financial services as a commercial loan officer at a $2.1 Billion institution. He then worked with Deloitte and Touche in their federal advisory practice, represented the FDIC in managing the day-to-day operations and eventual liquidations of failed financial institutions, and managed private consulting teams in assisting financial institutions with the administration of FDIC Loss Share Agreements, the establishment of special asset divisions and the resolution of troubled portfolios. At Abrigo, he provides Advisory Services clients a unique combination of experience and perspective as he works closely with each institution to develop sound and defensible allowance methodologies, policies, and procedures. Regan is a nationally recognized speaker, writer, thought leader, and trusted advisor, specializing in the ALLL, the CECL standard, and credit risk. Regan earned his undergraduate degree from Brigham Young University, where he studied business management and finance.