POLICY PRIORITIES TRACK: Loan Modifications and Workouts in an Increasing Rate Environment
Learn about commercial loan modifications and workouts in an increasing rate environment where there is demand for equity for investors and borrowers. Consider differences in CMBS, Debt Funds, Life Companies, Banks, and agency lending.
Speakers
Moderator
Adam Fox is a senior director in Fitch Ratings’ U.S. CMBS group. His primary areas of expertise are commercial mortgage servicing and U.S. commercial securitization. Adam is currently responsible for Fitch’s North American commercial mortgage servicing group and leads a team of three analysts covering approximately 45 commercial mortgage servicers. In addition, he maintains an active role in new issuance and surveillance commercial securitization rating reviews as well as European servicer evaluations. Prior to his current position, Adam led a team of five associates who perform CMBS surveillance and authored a variety of research and criteria reports. Adam was previously director of data management at CRIIMI MAE where he spent seven years. During his tenure at CRIIMI MAE, he worked with t
Speakers
Adam Behlman is President of Starwood Property Trust’s Real Estate Investing and Servicing segment as well as President of Starwood Mortgage Capital. In this role, Mr. Behlman is responsible for overseeing Starwood Property Trust’s commercial mortgage-backed securities, its conduit lending and subsequent securitization activities, and its real estate investment platform, as well as leading the company’s wholly owned special servicer, LNR Partners. He previously served as Head of Capital Markets and Chief Risk Officer for LNR. Prior to joining LNR in 2011, Mr. Behlman served as Head of the Real Estate Finance and CMBS division of UBS. In this role, he was responsible for managing and trading UBS’ legacy CMBS and commercial real estate loan book, while also helping return UBS to the origination, trading, and underwriting business. Mr. Behlman previously held a variety of capital markets and real estate roles with firms including Deutsche Bank, Prudential Securities and Deloitte. After serving on the Board from 2016-2020, Adam was the President and Chairman of the Commercial Real Estate Finance Council (CREFC) during the 2020-2021 board of directors term, which is the leading trade organization for the commercial real estate finance industry, with over 11,000 members. He is currently serving as the Past Chairman and chairs the compensation and nomination committee as well as co-chairs the DEI HBCU and Education sub-committee. Mr. Behlman holds a B.A. degree from Queens College, CUNY, in both accounting and information systems and economics.
Robert represents financial institutions and mortgage companies across the United States. He has handled matters both at the pre-litigation and initial complaint filing phase as well as being employed during discovery, to depose expert witnesses and at the pre-trial phase to assist the current counsel. On the compliance side, Robert has worked with both legal and business managers for multiple clients to draft and outline procedures in response to pending or new legislation. Robert is a regular speaker at national industry conferences. He is Faculty Fellow with MBA’s School of Mortgage Banking. Robert is an Instructor in Residence at the Cumberland School of Law and an adjunct professor at Auburn University.
Roy Miller is the Senior Director of Special Asset Management in Fannie Mae Multifamily's Portfolio Risk Management department. He joined Fannie Mae in January 2006 as a Senior Asset Manager in Multifamily Loss Mitigation. Prior to that, Roy worked for Beal Bank in Dallas, Texas as an Asset Manager responsible for a large portfolio of distressed real estate loans. He started his banking career in 1997 and has a BS degree from the University of Texas at Arlington.
Jerry Smith is the Founder and President of Citrine Advisors, a boutique commercial real estate firm that consults and invests alongside its clients in select U.S. markets. Jerry oversees all aspects of property acquisition, development, financing, management, investor relations, capital formation, and consulting. Prior to launching the company, Jerry spent a decade working for a major, national investment brokerage firm in a handful of the company’s offices along the West Coast. Jerry is a graduate of the University of California, Berkeley. He is currently a member of the Urban Land Institute, where he sits on the Small-Scale Development Council. Jerry holds a broker’s license (#01321958) in the state of California.
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