I attended the Interface Distressed Asset Conference last month in Miami with our Loan Sales team leader, Pat Blount. I facilitated one of the panels on the topic of “Value, who knows”? Not only was the temperature abnormally cold, so was the outlook for commercial real estate values as we head in to 2011. The most popular panel was named “Cracking the Vault, doing business with the FDIC and Special Servicers”. The room was packed as it was evident that brokers want to know ”how to do business with” and have been frustrated by the system in place but the panelists simply said “don’t call me, I’ll call you”. I didn’t see anyone in the audience satisfied with that answer.
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