Loss Sharing Assuming Institutions: 7 Reasons to Get Loss Share Training

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Ark Financial Group releases new training program to eliminate Loss Share complexities.

Loss Share Training Solutions

2012 will be a year of guidance, training and support to assuming institutions facing difficulties.

Ark Financial Group announced today that its leveraging its insider expertise and tools to create a robust Loss Share training program that will help assuming institutions manage Loss Share Agreements internally. “2012 will be a year of guidance, training and support to institutions facing difficulties with managing the demands of a Loss Share Agreement. We are dedicated to helping assuming institutions identify areas for improvement within Loss Share management and overall operations, and develop and implement the plans to fix them,” said Vanessa Maynard, Managing Director with Ark Financial Group.

With every new Single Family and Non-Single Family Loss Share Agreement, the FDIC tacks on a list of requirements that impact an organization immensely. The various monthly, quarterly, semi-annual and/or annual audits performed by the FDIC of these institutions are known as The Compliance Monitoring Plan (“CMP”). This schedule of audits is performed by the FDIC and its Compliance Monitoring Contractors throughout the life of a Loss Share Agreement (three to ten years). If an organization is thinking about acquiring or has already acquired a failed bank under the loss sharing program, training should be at the top of the priorities.

Acquired a bank under Loss Sharing a while ago? Acquired one yesterday? Thinking about acquiring one tomorrow? The 7 reasons to provide Loss Share training to an organization are the same. Throughout Ark Financial Group’s time performing Loss Share audits for the FDIC and assisting Assuming Institutions directly, these are the most common findings discovered by the FDIC during the CMP - and the 7 Reasons To Get Loss Share Training:

1.    Inadequate management, staff and overall organization preparation for the on-site Compliance Visitation audit (one part of the CMP).
2.    Insufficient Loss Share staff to appropriately manage assets.
3.    Inefficient operational, departmental, and/or functional policies, procedures and processes as it relates to Loss Share Agreement management and overall lending practices.
4.    Postponements in Loss Share Certificate reimbursements due to errors in reporting structure, calculations and reconciliation processes.
5.    Unsatisfactory default management efforts, including collections, foreclosure prevention, loss mitigation, foreclosure and REO management.
6.    Deficient integration of Loss Share program into operations.
7.    Inadequate operational, loan-level and portfolio documentation for the appropriate administration and servicing of assets.

Whether they’ve been through the Compliance Visitation before or are preparing for the first audit, Ark Financial Group eliminates surprises. Ark Financial Group’s services are customized to meet the individual Loss Share needs of each client.

The team at Ark Financial Group is comprised of industry veterans and former FDIC Loss Share Compliance Monitoring Contractors, now dedicated to helping Acquiring Institutions. The firm leveraged its insider knowledge, tools and ground-breaking strategies to develop service offerings that simplify Loss Sharing for everyone involved. Ark Financial Group has provided support to some of the largest domestic and international banks, mortgage originators, servicers, and investors for over 15 years. For more information, visit http://www.arkfinancialgroup.com/Acquiring_Institutions.html.

Vanessa Maynard
Ark Financial Group
888-637-0063 Extension 11

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Vanessa Maynard
Ark Financial Group LLC
(888) 637-0063 x11
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