Buying Loans & Charged Off Debt from Peer to Peer Marketplaces, Regional Banks & Other Secondary Sources
As we continue to find ourselves in one of the most challenging years in modern times, it is critical for all of us to understand how the disposition and sale of impaired and charged off loans are being addressed in this complex and dynamic time. Our panel of experts have insights to share from many years on both the buy and sell sides of this critical piece of our economy. Join us to learn what to expect and where they see the current and future opportunities.
Event Recording
Buying Loans & Charged Off Debt from Peer to Peer Marketplaces, Regional Banks & Other Secondary Sou
Speakers
Antonio Zuniga
- Title
- Managing Director @
- Company
- Oak Shore Capital
- Role
- Moderator
Mr. Zuniga has over 20 years of entrepreneurial and investment experience in Real Estate and Banking. He has Graduate degrees from Cornell University and the Jones School of Management at Rice University with concentrations in Finance and Behavioral Economics. Prior to Oak Shore, Mr. Zuniga underwrote, lent and disposed a portfolio of real estate bridge loans (’04-’08); founding investor, board member, chair of Risk Management and later Chairman of the Board at Oasis Bank SSB, which later merged with SoTB (‘06-’11); SoTB subsequently filed for IPO (’18); co-founder successfully acquired, managed and sold multi-family real estate in 10 markets with transactions totaling over $50MM (’08-’15).
Yonel Devico
- Title
- Founder & Managing Partner @
- Company
- Crosby Capital
- Role
- Panelist
Yonel Devico is a Founder of Crosby Capital, with primary responsibility for investment originations and underwriting, as well as oversight of Crosby Capital’s servicing, asset management, and foreclosure activities. Mr. Devico is also the Founder and Principal Manager of Crosby Capital USA, a mortgage investment company located in Miami, FL that has purchased more than 300 loans with a total UPB value of over US$100 million. Previously, Mr. Devico founded Broome Capital, a multi-family residential real estate investment platform that was acquired by a Canadian private equity fund. Prior to founding Broome Capital, Mr. Devico was working in the Sales and Trading department with Société Générale’s Equity Derivatives Group in Paris. Mr. Devico holds a Master of Science of Real Estate Development from Columbia University, a Master’s Degree in Business Management from Audencia Business School in Nantes, France and has attended the Real Estate Manageement Program at Harvard Program at Harvard Business School. He is fluent in French, Arabic, Spanish, English, Portuguese and Italian. He lives in Miami Beach, FL with his wife Anna, an attorney and their daughter.
Michael Ardisson
- Title
- Partner, Chief Operating Officer
- Role
- Panelist
Michael Ardisson is a Partner, the Chief Operating Officer and Head of Business Development at Medalist Partners, a $2.4 billion alternative investment manager focused on asset-based private credit, structured credit and CLOs. Mr. Ardisson is responsible for management and oversight of the firm's client relationships, business strategy and operations. He is a member of the firm’s private credit investment committee. Prior to co-founding Medalist, Mr. Ardisson was a Partner within Candlewood Investment Group, a multi-billion alternative credit manager that spun-out from Credit Suisse in 2010. Prior, Mr. Ardisson led Strategy & Business Development for Credit Suisse Alternative Investments, responsible for managing business strategy globally, including oversight and execution for various investment initiatives, product development, M&A, JVs, and strategic planning. Prior, Mr. Ardisson was an investment banker at Morgan Stanley in the Financial Institutions Group. Mr. Ardisson received a Bachelor’s Degree from Loyola University and an MBA from NYU Stern School of Business.
William Douning
- Title
- Senior Vice President @
- Company
- BBVA
- Role
- Panelist
BBVA USA (2010 to 2020) Manager of the workout group for the North Texas region since 2017 Previously managed the Note Sale Group (2010 to 2014) and the Commercial REO Department (2015 to 2016) Spent fifteen years on the buy-side of distressed bank debt as a shareholder of The Treadstone Group, Inc. Graduate of the University of Texas at Arlington.
Rick Stone
- Title
- Founder & Managing Partner @
- Company
- Palm Beach Investment Research Group
- Role
- Panelist
Rick Stone earned his J.D. from Columbia Law School, Mr. Stone has amassed extensive legal expertise, dating back to his earliest experience as a law clerk for the Honorable Charles Sifton of the United States District Court for the Eastern District of New York. Rick is a former partner at one of the countries oldest law firms, Cadwalader, Wickersham & Taft. He has been Lead Counsel on several major high profile successful consumer and securities class actions. Rick dedicates a substantial portion of time to philanthropy and is involved with numerous local and national charities such as the Community Foundation for Palm Beach and Martin Counties. Currently, Rick serves on the executive committee of Junior Achievement of the Palm Beaches, and teaches economics at Palm Beach Lakes High School as part of its volunteer program that teaches pre-law programs at local high schools. Rick is an adjunct law professor at Shepard Broad Law School, Nova Southeastern University. He is President and Co-Founder of the Palm Beach Investment Research Group Inc., a membership based not-for-profit corporation comprising a group of family offices and other active investors.
About
Oak Shore Capital
Oak Shore Capital is an investment management firm seeking absolute return strategies. Oak Shore acquires monthly portfolios of fresh charged-off consumer debt directly from originating lenders; and uses owner-run third-party collections agencies and a systematic approach to capture front loaded streams of cash flow.
Crosby Capital
Yonel Devico is a Founder of Crosby Capital, with primary responsibility for investment originations and underwriting, as well as oversight of Crosby Capital’s servicing, asset management, and foreclosure activities. Mr. Devico is also the Founder and Principal Manager of Crosby Capital USA, a mortgage investment company located in Miami, FL that has purchased more than 300 loans with a total UPB value of over US$100 million. Previously, Mr. Devico founded Broome Capital, a multi-family residential real estate investment platform that was acquired by a Canadian private equity fund. Prior to founding Broome Capital, Mr. Devico was working in the Sales and Trading department with Société Générale’s Equity Derivatives Group in Paris. Mr. Devico holds a Master of Science of Real Estate Development from Columbia University, a Master’s Degree in Business Management from Audencia Business School in Nantes, France and has attended the Real Estate Manageement Program at Harvard Program at Harvard Business School. He is fluent in French, Arabic, Spanish, English, Portuguese and Italian. He lives in Miami Beach, FL with his wife Anna, an attorney and their daughter.
BBVA
BBVA USA Bancshares, Inc. is a Sunbelt-based bank holding company whose principal subsidiary, BBVA, operates 649 branches, including 336 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 in Florida, 37 in Colorado and 18 in New Mexico. BBVA ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (6th).
Palm Beach Investment Research Group
PBIRG is a membership based not-for-profit corporation in Florida; comprising a group of high-net-worth individuals that are active investors, investment professionals, and family office members and executives. Members share and benefit from the group’s collective investing intelligence and from monthly presentations by targeted investment professionals. Members are diverse but many are entrepreneurs who have transitioned to being full time investors; and who wish to participate on a monthly basis in a peer-to-peer learning experience that is independent from major institutional investment advisors. Most group events take place in Palm Beach, one of the wealthiest and most exclusive locales in the world. Group events provide a safe, collegial and stimulating environment for members to discuss and share actionable investment ideas, as well as other issues relating to significant wealth. Members, by virtue of their financial resources, can be overwhelmed by investment advisors and offerings of all kinds. The ability to discuss opportunities in an unbiased and trusted environment of peers that are not selling products/services is therefore one of the major benefits of membership.