Certainty of Execution
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Garnet Capital is a financial services company specializing in managing loan portfolio sales and providing valuation services.
Strong trends in employment and GDP spelled good macroeconomic news in 2018, and the strong trends are expected to continue in 2019. As a result, trends in the consumer credit market should be robust as well.
Small businesses needing loans are increasingly turning to nonbank lenders. Why? Because banks became more risk-adverse about small business loans after 2008. Banks should partner with nonbank originators to reap the rewards of the latter's increased small business lending.
CECL is a new standard set forth by the FASB. It is set to be implemented in 2020 for all SEC registrants and 2021 for all other banks. The ABA terms it a "significant challenge for the banking industry" and notes that it has the potential to change the way banks do business. While many industry associations seek to delay or mitigate the implementation of CECL, the fact is, it is coming, and banks need to be prepared.
The forum continues to be the only place where Special Assets, SBA, Credit, Loan Review, Risk Management, Special Servicers & C-level executives can meet to discuss the latest credit and workout issues.
In its third year on the East coast, we look forward to welcoming back large institutional buyers, mid-sized funds and smaller private note buyers to discuss market trends, with new sessions addressing RPL securitization and REO to rental property strategy. In addition, we welcome a new crop of servicers and default professionals to discuss topics surrounding foreclosures and default servicing. These fresh supplements to the program and delegation promise valuable opportunities for information sharing and networking.
Garnet is proud to once again be an exhibitor at the premier event for the receivables management industry. Debt buyers, originating creditors, collection agencies, law firms, brokers, and affiliates gather for three days of industry education and regulatory updates, networking, and business opportunities.
Small businesses have always had a harder time securing financing than their larger brethren, but these challenges have grown even worse in recent years. As economic conditions have improved, fledgling firms have been seeking additional capital to invest and expand. While demand for credit from this sector is growing, many banks are reluctant to provide them the financing they need. Where else can they turn?
The compliance environment for debt sales has evolved significantly over the years. Focusing on several material components provides a framework for understanding these developments, including how information security, government agencies’ debt sales guidelines and the types of debt involved, have progressed.
“In March and mid-April, loan sale advisory firm Garnet Capital Advisors plans to attend two industry conferences in Florida and New York..."
"Attending the DBA has become the critical kick-off to our year," DiPalma said. "This conference brings important industry participants together and the association focuses on how to promote industry best practices and communication in many ways..."
“To work effectively in the new system, one has to understand the parts of the new regulatory apparatus and how they impact the roles of all parties in the debt sales space…”
