Focus Management Group

Banking Industry Experience

Nationwide Residential Mortgage Loan Lender

Company:

Nationwide Mortgage Loan Lender

Situation:

A nationwide residential mortgage loan lender had been in business 70 years and engaged in the refinancing of conventional mortgage loans as well as loans backed by the Veterans Administration and the Federal Housing Administration. As a result of continuing losses driven by a failed acquisition and rising interest rates, the Company suspended all major lending operations.

Focus Scope:

Focus was engaged by the lender to develop a plan to avert bankruptcy, stabilize the creditors and lay the foundation for the lender to resume operations.

Tasks Performed:

  • Within days, Focus prepared a comprehensive analysis to use as leverage for negotiating with unsecured creditors and parties engaged in legal proceedings against the lender.
  • Focus placed hundreds of phone calls with creditors to negotiate payment plans and to propose discounted settlement offers to creditors and litigants.
  •  

  • Focus also counseled management in ways to properly manage its cash flows going forward.

Results:

  • As a result of Focus’ efforts, the imminent threat of an involuntary bankruptcy proceeding was replaced with a viable restructuring plan grounded in meaningful cooperation with the company’s creditors.
  • This proactive approach played a large role in significantly reducing legal exposure and buying the lender the time necessary to implement a restructuring plan.
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