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Services

AM - Asset Management and Marketing Services

REO - Real Estate Owned (REO) Management and Disposition

Portfolio Sales Support

Bank Consulting Services

Bank Services - Capital Sourcing for Financial Institutions
Loss Share - Full Spectrum "Loss Share" Services

DD - Due Diligence

Compliance Reviews

Information Technology

RView
NPSU

Asset Management and Marketing Services

Prescient has performed asset management services for various public and private sector clients for over 20 years. In the last 2 years, Prescient has managed and disposed of over 20,000 commercial, industrial, multifamily, and Single Family assets located across the United States. Prescient specializes in distressed assets. With the customers bottom line always a decision making priority, Prescient stabilizes the asset, works to improve the asset quality and brings the asset to market in the most efficient and cost effective manner, delivering the highest net return possible to the client.

Conveyance Activities
Perform all property inspections, maintenance, and repairs necessary to maintain all assets in habitable and market ready condition. Operate a 24hour/7 day a week call center that is responsive to needs of assets and entitlements of tenants.
Budgeting and Forecasting
Prescient’s Asset Managers utilize their expertise to review all budgeting and forecasting projections in order to control and improve asset cash flow.
Landlord/Tenant Relations
Prescient is experienced at negotiating and administering leases, including rent collections, resolution of tenant disputes, and evictions.
Develop Business/Marketing Plan
Prescient will develop a business/marketing plan based off the client’s needs and timeline. The plan will review all collected data, valuation information, and local market factors to pursue a marketing plan based on As-Is sales, Repositioned sale, or a more lengthy marketing execution.
Tracking and Reporting
RVIEW is Prescient’s proprietary Real Estate Asset Management System. It provides full management and support for the life of a real estate asset from acquisition to sale. RVIEW provides users with a complete database of asset information combined with fully electronic asset file and document storage capability. RVIEW is seamlessly integrated with external sales and marketing websites to provide flexible and dynamic marketing capabilities.

For more please see the RVIEW description here.

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Real Estate Owned (REO) Management and Disposition

Prescient markets and manages real estate owned portfolios held by government agencies, financial institutions, servicers, and other clients. Prescient is a recognized leader in full-service, turnkey REO asset management.

Prescient understands the goals of your REO staff, and will design a disposition strategy that minimizes hold time and maximizes return. We provide expertise in all areas of REO management including property preservation and protection; inspection and assessment; valuation; asset management; marketing, reporting; title review, and closing.

Pre-Sale Activities
When Prescient is assigned your REO Asset, we immediately begin to develop a comprehensive and aggressive disposition and marketing strategy. We handle occupancy status and eviction services as well as pre-marketing to put the asset in a marketable condition as quickly as possible.
Property Valuations and Marketing
Prescient understands that successful property management and disposition require comprehensive assessment of present and potential asset value. Properties are secured, repaired, and marketed to maximize market value. Clients are provided the information needed to make prompt and beneficial business decisions to effectively manage their assets.
Property Protection, Preservation, and Repair
Prescient ensures that vacant and abandoned properties are quickly secured and remain protected throughout property disposition. Property preservation is vital to preparing and maintaining assets in marketable conditioning until they are sold. These services ensure that the property is sold as quickly as possible, and your return is maximized.
Inspection
Prescient recognizes the importance of inspections to obtain accurate and timely information regarding the property’s condition. All Prescient inspections comply with client guidelines, industry standards, and regulatory requirements. Prescient performs exterior and interior inspections to effectively and accurately evaluate property condition and needs.
Closing Services
Prescient will appoint a closing coordinator to act as a liaison between the client, agent, and closing company, and will monitor the entire process. We handle all the details to ensure timely and efficient closing.
Tracking and Reporting
RVIEW is Prescient’s proprietary Real Estate Asset Management System. It provides full management and support for the life of a real estate asset from acquisition to sale. RVIEW provides users with a complete database of asset information combined with fully electronic asset file and document storage capability. RVIEW is seamlessly integrated with external sales and marketing websites to provide flexible and dynamic marketing capabilities. All work orders are completely automated. All property preservation, marketing and closing documents and activities can be viewed real-time using RVIEW.
RVIEW includes numerous support features, a few are listed below.
- Property Management
- Real Estate Broker Management
- Title Clearing
- Taxes and Tax Protests
- Asset Valuation
- Environmental Issues
- Asset Budgets
- Litigation Support
- Purchase Offer Management
- Work Order Processing
- Bulk Sales Support
- Automated Forms/Reports

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Portfolio Sales Support

Prescient’s Portfolio Sales Platform can assist a client in the sales of performing, nonperforming, sub performing and REO assets. Prescient is experienced in the marketing and sale of commercial, industrial, multi-family and single family assets. Prescient’s staff has been involved in the underwriting, analysis, workout, and sales of billions of dollars of assets over the past 20 years.

On-site File review and loan file scanning and compilation utilizing Prescient’s RVIEW technology, which seamlessly supports data collection, analysis, due diligence packaging, and marketing efforts.
Document Due Diligence and Review
Portfolio Review and Analysis
Portfolio sale designed to maximize exposure and bid prices
Portfolio sale designed as Sealed-bid, Negotiated, or other sales technique
Design Marketing and Advertising plan and budget to suit client
Review, confirm and approve all eligible bidders per clients direction
Assist and direct all closing activities to ensure a smooth transition of loans and assets in an efficient manner.

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Bank Consulting Services

Capital Sourcing for Financial Institutions

Prescient (and its partner firm Crimson Capital Group), have worked with a number of institutions looking to raise equity. Prescient and Crimson have also represented several groups looking to acquire institutions. Prescient has dedicated senior staff experienced in working with banking institutions and the regulatory agencies charged with overseeing and supervising them.

Prescient conducts initial due diligence on mortgage assets and other bank assets. Evaluation of liabilities, target bank staff and other physical assets (branches) is rolled up into a full evaluation of institution. Prescient and Crimson staff can assist in determining bid amount and manage communications with the FDIC and other regulatory agencies during the bidding and closing process.

Full Spectrum "Loss Share" Services including Asset Management and Agreement Management including Regulatory Reporting, Consulting and Liaison

Recent economic turmoil has created many opportunities for healthy institutions to garner market share and enter new regions in a relatively quick and inexpensive fashion; the acquisition of failed institutions with accompanying loss share agreements between purchasing entity and the FDIC. The administration, accounting and operational resources that must be directed to successfully execute the loss share agreement has been causing havoc with many acquiring banks. Prescient has the staff and experience to assist an institution in navigating these confusing and unchartered waters.

Prescient’s senior staff has experience working as bankers and regulatory personnel charged with auditing banking institutions. That experience is key when designing a plan to assist an institution in administering loss share agreements. Prescient also brings a wealth of distressed asset and REO experience to assist any size institutions in minimizing costs and maximizing returns on their distressed asset portfolio. Our services can help offer a clear understanding of what it takes to successfully manage failed acquisition process.

Following is a list of services Prescient can provide to financial institutions which have acquired failed institutions from FDIC with specified loans and assets covered by loss share agreements.

Develop internal credit policy guidelines that satisfy FDIC.
Develop asset by asset and portfolio business plans.
Coordination of required reporting to FDIC.
Provide senior asset management and workout personnel for performing the activities necessary to maximize recoveries pursuant to the loss share agreements. Any personnel provided will be contract employees of Prescient. All personnel have substantial workout experience with FDIC, RTC and the private sector.
Develop reporting systems to keep bank management informed of portfolio performance, and achievement of business plans by asset and portfolio.
Sale advisor for portfolio and individual loan sales, and ORE sales.
Functional Categories.
Loss Share Vendor Evaluation/Selection Services.
Loss Share Facilities/vendor Contract Negotiation.
Loss Share Fixed Asset Contract Negotiation.
Core System & Conversion Project Management, Planning and Documentation.
Loss Share Regulatory Compliance Documentation and Project Documentation.
Failed Bank Assumption Record Retention and Audit Trail.

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Due Diligence

In support of Prescient’s Asset Management Services, REO Management and Sales, Portfolio Sales, and Bank Consulting Services, Prescient has performed Due Diligence on thousands of assets of every class. Prescient can structure a Due Diligence plan for your assets and loans regardless of asset class, volume, or regional distribution.

Prescient’s Due Diligence Service is focused on understanding the loan and asset, in order to manage it effectively and return the highest net value to our client. Prescient’s personnel have experience as senior credit officers, underwriters, and financial regulatory personnel.

Prescient’s Due Diligence Services include the following:

Loan file review and digital conversion
Appraisal, engineering, and environmental 3rd party report review
Legal and title review
Credit file review
Financials
Lease and Tenant review
Market specific factors
Sale and rent comparables
Asset Summary Report

Prescient will produce an asset summery report for every loan and asset. Every asset summary report will include the following; a description of the asset, its underlying collateral, the borrower and the guarantors, an assessment of the market in which the asset is located, a summary of Prescient’s due diligence, a summary of the site inspection (including photos), the estimated hold period for the asset, a projected asset management plan for the asset and the estimated net present value of the asset.

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Compliance Reviews

Prescient provided contract services to Ginnie Mae under the Issuer and Document Custodian Risk Based Review Program. Ginnie Mae, through its Mortgage Backed Securities (MBS) Program, guarantees privately issued securities backed by pools of mortgages. The Ginnie Mae guaranty assures the holder of the security of receiving the timely payment of scheduled monthly principal and interest plus certain prepayments and early recoveries on the underlying mortgages. This U.S. Government full faith and credit guaranty of securities makes them widely accepted to those sectors of the capital markets that otherwise would not be likely to supply funds to the mortgage market.

Because Ginnie Mae assures the performance of the securities, it is also assuming the potential for loss should the pools not perform as scheduled. Therefore, Ginnie Mae must monitor the other parties involved in the creation and performance of the securities. These parties are the Issuer, Document Custodian, and any substitute Issuer or Document Custodian.

As a subcontractor to Deloitte & Touch, Prescient’s primary service was testing (Servicer) participants’ and reviewing all aspects of the pool including the selection of loans to perform testing as it relates to loans that are in bankruptcy, foreclosure, claims, escrow, insurance, P&I and T&I account reconciliation, escrow and insurance disbursements, escrow analysis, REO disposition, loan purchases and numerous and internal control reviews.

This testing assisted Ginnie Mae in determining the following:

The participant’s level of understanding of, and performance within, the Ginnie Mae Program guidelines;
The participant’s documentation and procedures support the information as presented on the reports required by the Ginnie Mae and/or its agents.
The participant takes industry standard and program specific steps necessary to minimize risk of loss to Ginnie Mae;
That the issuer provides adequate controls on funds from point of receipt through to payment to security holders or debiting by the Central Paying and Transfer Agent, and that the issuer has demonstrated ability and willingness to advance its own funds when required in order to ensure security holders payments are made in a timely manner.

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Information Technology

RView

Prescient, Inc. Real Estate Asset Management System

Overview

RView is a proprietary Real Estate Asset Management System that provides full management and marketing support for the life cycle of a Real Estate Asset from acquisition to sale. The system relies on state of the art web-based architecture that provides secure access to users anywhere on the internet. RView provides users with a complete database of asset information combined with fully electronic asset file and document storage capability. RView is seamlessly integrated with external sales and marketing websites to provide flexible and dynamic marketing capabilities. Updates to the database are immediately visible on all platforms. RView includes numerous special support features including, Real Estate Broker Management, Title Clearing, Real Estate Taxes and Tax Protests, Asset Valuation, Environmental Issues, Asset Budgets, Property Management, Litigation management, Purchase Offer management, Work Order processing, Bulk Sales Support and much more. These features combined with numerous standard reports and limitless user defined ad hoc reporting capabilities enable RView to provide users with timely, accurate and targeted information tailored to meet their specific needs. Due to RView’s proprietary nature, it can be easily customized to address new demands and respond to innovations in the marketplace.

We believe that RView’s features provide “best in class” support for all asset management and marketing needs in today’s challenging environment.

The Property Information Package (PIP)

Throughout the life cycle of an asset, Rview electronically stores and assembles all key documents into a Property Information Package (PIP). The PIP is auto-linked to public sales websites. The PIP is a comprehensive set of information that enables prospective purchasers to conduct full due diligence on their targeted assets on-line from anywhere they are connected to the internet.

The PIP is auto assembled in Rview by Asset Managers and support staff by identifying and selecting (or de-selecting) key documents as they arrive for inclusion in the PIP. All selected documents and exhibits are auto assembled by Rview for an asset and are instantly available on-line for buyer due diligence. The dynamic, real-time link between Rview and sales websites is such that as new documents arrive and are selected, the PIP adds additional documents or replaces prior documents and they are instantly available for buyer inspection.

The PIP includes:

Executive Summary and Marketing Flyer
Deed
Title
Tax Information
Zoning and Flood Plain
Property Inspections
Asset Valuations
Environmental Reports
Photos
Maps (addresses and/or GPS coordinates are auto linked to Google Maps)
Leases
Rent Rolls
Income/Expense Statements
Other documents designated by the User

Sales Website Support

Rview supports public and private sales websites. Presently, Rview supports:

www.fdiclistings.com – a publically available website dedicated to sale of asset managed and marketed by Prescient for the FDIC. This website serves as Prescient’s MLS system. All broker and Asset Manager Information is provided to the website by Rview along with key information about the asset. As Rview is updated, the site is updated. Prospective buyers may search this website by State, City, Zip Code, Property Type and Price Points. Buyers may make an on-line purchase offer. The offer is recorded in Rview and the Asset Manager is auto-emailed regarding the offer.

www.prescientore.com – a semi-private website for bulk sales and special event sales. Prospective buyers can register on-line and gain access to special events that are of interest to them. Once registered, prospective buyers can gain access to the lists of assets in the event and review the entire PIPs for each asset. Rview can update buyers with the latest available information through the PIP update process. All buyer terms and conditions and form contracts are available on-line. Prescient has hosted 14 special events on this site in 2010.

www.prescientsales.com – a semi-private website for corporate sellers. This site possesses the identical features of prescientore.com and is used by industry sources for the sale of their portfolios. Prescient recently hosted a sale of over $200 Million in bank-owned assets.

Reporting Capabilities

Rview offers extreme flexibility to meet user reporting requirements for both operation and management needs.

Standard Reports include but are not limited to:

Portfolio Aging
Pending Sales
Sales
Tax Status
Insurance
Assessed Value to Appraisal
Expenditure to Budgets
New Assets
Litigation
Work Order Status
PIP Status
Environmental
Many more
Ad Hoc User Defined Reports

Rview has a number of features for users to generate reports based upon selected data elements and selected filters. Users may select virtually any data element in the system and then selects certain filters to generate the data they need. For example, the user can select asset value and then filter by a specified greater than or less than value and further filter by Asset Manager etc. The possibilities and flexibility are extensive and up to the needs of the user.

All reports generated by Rview may also be selected to be downloaded and save for later use in Excel or Adobe formats.

Other Features

Comprehensive RE Broker management – Users can define and set up brokerage companies and enter agent(s) data in Rview. Each asset can be tracked by broker, agent, commission, and listing agreement dates.
Title Clearing – All title information is entered in Rview and titles are reviewed and identified in the system as “cleared” or “not cleared”. There is nothing worse than negotiating a sale and find out that there are title issues. This is a safeguard against that possibility.
Real Estate Taxes and Tax Protests – All asset tax and parcel data are captured by Rview along with tax amounts due. An asset can be “flagged” to pay or not pay taxes. Tax protest status updated until resolution.
Environmental Issues – Over 50 specific environmental attributes can be flagged in Rview ranging from the usual Asbestos and Lead Paint matters to Historical Sites, Wetlands etc.
Budget and Expense Support – Rview captures annual asset budgets and can post income and expenses against those budgets. Supporting invoices can be stored electronically.
Work Order Processing – Work orders for inspections, title reports appraisals, environmental reports, tax certificates etc. can be entered, ordered and tracked through Rview. For large vendors, Rview has established “portals” through which vendors enter the data and the electronic versions of their delivered reports.
Litigation Management – Rview record the type of litigation, (Eviction, Defensive, Other), full information about the Law Firm and Attorney as well as the litigation budget and litigation status.

Summary

The foregoing is a brief introduction to Rview. There are many features beyond the items covered herein. It is a valuable tool for any entity competing in today’s real estate marketplace. The open ended architecture and web support capabilities of the system will enable Rview to maintain a competitive advantage for users in the coming years.

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NPSU (name under review)

NPSU (Nationwide Property Servicing Utility) is a proprietary real estate management database that records all pertinent contact information for various local agencies. The database is searchable by address and returns all pertinent local contact information for the following on an asset by asset level: