COVID-19: Problem Asset Administration and Workout Strategies
As the world battles COVID-19, your borrowers are facing financial challenges ranging from minor hardship to utter destruction. You need to manage your loan portfolio proactively to address problem assets and minimize your institution’s exposure.
Resetting your workout process based on current proven strategies will enable you to reduce net losses and maintain adequate capital. Effective workout plans must address documentation requirements, bankruptcy issues, reputational risk, and each borrower’s emotional cycle.
- What is the most effective process for problem asset workout?
- What should management reports include?
- What troubled debt restructure (TDR) pitfalls must you avoid?
- How should you deal with potential reputational risks?
- What strategies can you use to reduce legal fees?
- How should you manage the borrower’s emotional cycle?
- What negotiating techniques are most effective?
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