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Special Assets A Place Where Problem Loans and Troubled Debts Are The Topic of Discussion – September

Welcome to, a place where problem loans and troubled debts are the topic of discussion. I am Dick Rogan, bank lawyer and chair of the JMBM Special Assets Team™. Every day, problem loans of all types cross my desk and the desks of my colleagues here at JMBM. That’s because we ask for them. Our clients are banks, special servicers, private lenders and others dealing with the fallout from the “Great Lending Bubble.” Our clients challenge us to help them find value where all appears to have been lost. They rely on our collective years of experience to develop the right approach for each loan. Let’s face it, our task is to work with our clients to make the most out of a bad situation.

Over the years, we’ve been asked by young people just joining a lender’s workout team and by experienced lenders who have crossed over to the “dark side” of the bank to explain the tricks of the trade in dealing with special assets. In response, we created – a collection of some of our accumulated wisdom and a place for bank workout professionals to come find out what works when attempting to collect and deal with problem loans.

Each post will consist of an article on a topic of practical importance to bank workout officers. We will rely on our friends, consultants, experts, colleagues and clients to suggest new areas of interest as the recession evolves and new troubled loans appear. We will talk about developments in the law and highlight problems for bankers to avoid, as well as strategies to pursue. We will focus on how to find the best possible solution in a cost-effective, business-like manner.

Take a tour now, and you will see my slideshows on Tricks of the Trade and Receiverships 101. You’ll find posts on timely topics such as how to approach the first meeting with a borrower, prenegotiation agreements, bidding strategy at foreclosure sales, section 363 sales in bankruptcy, assignments for the benefit of creditors, participated loans, confidentiality agreements with vendors, loan sales and many others. We’ll continue to add topics on timely and important subjects of interest to workout professionals.

My colleagues here at JMBM’s Special Assets Team™ – and non-lawyer experts who help us in our mission – will join the blog from time to time as authors to give you their perspective on particular problems that they and their clients have successfully navigated. We will also have a feature,”Sad but True,” that will spin true tales of unfortunate experiences in the world of Special Assets. Many of you will recognize the title from a newsletter published years ago by the old Security Pacific Bank. The purpose of the newsletter then was the same as the purpose of this blog: to make sure that Special Assets Officers are aware of the troubled waters they must navigate when they are called upon to work out the problems presented by troubled loans.

We hope that you will become a regular reader of the Special Assets Lawyer Blog. You can join in by clicking on the “Subscribe” button above and choosing the delivery method that works the best for you.

This is Dick Rogan, bank lawyer and author of, signing off for now. Join us again soon to check out what’s new in the World of Workouts.

Year after year, day after day, workout professionals in the know rely on JMBM’s Special Assets Team™ to handle problem commercial and real estate loans. Whatever problem loans you have, chances are, we’ve seen it. Give us a call.


Our Perspective. JMBM represents commercial banks, special servicers, private lenders, asset-based lenders, hard money lenders and factors. We help lender clients throughout the United States craft business and legal solutions to their commercial and real estate troubled loans. For more information, please contact Dick Rogan at, or (415) 398-8080.

Richard A. Rogan is Chair of the JMBM Special Assets Team™. He also serves as the co-managing partner of JMBM’s San Francisco office and co-chair of its Bankruptcy Practice Group.

JMBM’s Special Assets Team™ has represented hundreds of lenders in California and throughout the United States. We regularly appear in bankruptcy courts, district courts and superior courts. We are proud to serve as trusted counsel and advisors who look for a business solution and try to help lenders find the best possible resolution for each troubled loan. Whether a loan is being newly documented, restructured or litigated, JMBM’s Special Assets Team™ has the skill, know-how and experience to solve your problem in a practical no-nonsense way.

NOTE TO CONSUMERS: As a matter of Firm policy, JMBM does not represent individual consumers who have disputes with their lenders. Many lenders have specialized consumer workout professionals who have the time to help consumer borrowers. There are many fine attorneys who specialize in representing consumers. Individuals with consumer lending problems should contact a lawyer or law firm who specializes in consumer insolvency and bankruptcy in their local area. When in doubt, we suggest you contact your local bar association’s Lawyer Referral Service. [For example, see Bar Association of SF or LA County Bar Association Lawyer Referral Services]

JMBM does not provide legal advice to consumers, and cannot respond to consumer inquiries.