The Loan Committee™

Nineteen Miami-Dade and Broward banks received five stars — the highest possible — in the most recent ratings by Coral Gables-based BauerFinancial, based on March 31 results. Most of the banks also scored five stars at the end of the last year, although Apollo Bank and Coconut Grove Bank, both of Miami, rose to five stars from four stars previously, and Floridian Community Bank of Davie dropped to four stars at the end of the first quarter of this year, from five stars at year-end 2013.

Awarded the five-star “superior” rating were Miami-based Apollo Bank, Miami Lakes-based BankUnited; Biscayne Bank, based in Coconut Grove; Broward Bank of Commerce, Fort Lauderdale; Capital Bank, Coral Gables; City National Bank of Florida, Miami; Miami-based Coconut Grove Bank; Continental National Bank of Miami; Desjardins Bank, Hallandale Beach; Espirito Santo Bank, Miami; Executive National Bank, Miami; Florida Community Bank, Weston; Intercontinental Bank, West Miami; Marquis Bank, Coral Gables; Mercantil Commerce Bank, Coral Gables; Professional Bank, Coral Gables; Sabadell United Bank, Miami; Stonegate Bank, Fort Lauderdale; and TotalBank, Miami.

Bauer rated three Miami-Dade and Broward banks as “troubled and problematic,” giving them zero stars, down from four banks at the end of last year. The banks rated zero stars were: OptimumBank, Plantation; Doral-based US Century Bank; and Valley Bank, Fort Lauderdale. Great Florida Bank, which had received zero stars previously, was acquired by Florida Community Bank.

Ratings are based on such factors as profitability, capital, level of delinquent loans, charge-offs, repossessed assets and liquidity.  Posted: June 11, 2014.  Author: Ina Paiva Cordle. Source: Miami Herald Business

Technically, all IRAs are self directed, in that you can direct which investments your IRA account is placed into. Traditionally, IRAs are invested in securities, CDs, money market, etc. A self-directed IRA is one in which you can direct your IRA funds into all assets permitted by law.  Read entire article… Author: William Bronchick, J.D. Source: CRE Online.

SBA lenders must be aware of the need to order environmental studies on properties that serve as collateral on a SBA loan.  An Environmental Investigation must be conducted before taking any Loan Action that could result in a loss, or increase the risk of loss, due to the actual or alleged presence of Contamination. For example, an Environmental Investigation must be conducted before:

• Accepting Property as substitute collateral;
• Releasing a lien on collateral for substantially less than its estimated Recoverable Value based on unsubstantiated allegations of Contamination;
• Abandoning collateral, which would otherwise have Recoverable Value, based on unsubstantiated allegations of Contamination;
• Acquiring title to Property held as collateral, e.g., by purchasing it at a foreclosure sale or accepting a deed-in-lieu of foreclosure;
• Taking over the operation of a business that uses Hazardous Substances or is located on Contaminated Property regardless of whether the Borrower owns the Property;
• Selling REO or acquired personal property collateral for substantially less than its appraised value based on unsubstantiated allegations of Contamination; and
• Abandoning REO or acquired personal.

Read entire article… Source: Prudent Lenders, LLC. Author: Lance Sexton