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Contacts: David Frankil
703-842-2226
dfrankil@nafcu.org
Aharon Friedman
888-832-1577 Ext. 15
afriedman@wildwoodcapitalgroup.com
FOR IMMEDIATE RELEASE
January 20, 2010
WILDWOOD CAPITAL GROUP AND NAFCU SERVICES RELEASE WEBCAST ON THE HEIGHTENED REGULATORY FOCUS ON MEMBER BUSINESS LOAN (MBL) PORTFOLIOS
WASHINGTON — NAFCU Services Corporation (www.nafcu.org/nafcuservices) and Wildwood Capital Group, NAFCU Services’ preferred partner for providing commercial real estate advisory services to credit unions, announced today the release of a free webcast that delves into specific regulatory issues and their impact on credit union commercial real estate loan portfolios.
The webcast is available online at www.nafcu.org/wildwood.
In the webcast Aharon Friedman, principal at Wildwood Capital Group, gives a comprehensive overview of member business loan portfolio monitoring, allowance for loan and lease losses (ALLL), specific guidance from the Financial Accounting Standards Board (FASB) that affect ALLL, as well as key takeaways to satisfy the expectations of the NCUA.
“It is essential that credit unions understand the expectations set forth by the NCUA and other financial regulators,” said Friedman. “In this webcast, we aim to clearly outline these expectations and the specific FASB statements that impact credit union member business loan portfolios so that credit unions can ensure their own compliance as well as profitability.”
“As the focus on regulatory issues in member business lending heightens, it has become increasingly critical for credit unions to prudently monitor and evaluate their commercial real estate loan portfolios,” said David Frankil, president of NAFCU Services Corporation. “Commercial real estate is under tremendous pressure right now, and even credit unions with significant in-house expertise can benefit from an outside opinion."
About Wildwood Capital Group
Wildwood Capital Group provides an array of commercial real estate consulting services to credit unions relating to member business loans secured by commercial real estate. The company’s services include valuation, restructuring, asset management and disposition management of loans and the properties securing loans. Its services are tailored to implement the most suitable value maximization strategy utilizing its commercial real estate expertise, market knowledge and legal proficiency. Learn more at www.wildwoodcapitalgroup.com.
About NAFCU Services Corporation
NAFCU Services Corporation is a wholly owned subsidiary of the National Association of Federal Credit Unions (NAFCU). Since 1975, NAFCU Services has partnered with the industry's leading solutions providers to offer value-added products and services at a discount to credit unions. Currently, it offers 28 Preferred Partner programs to the credit union community. For more information about NAFCU Services Corporation, please visit www.nafcu.org/nafcuservices.
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