Real Estate Manager

Laura Kellough

San Francisco, CA, ***** 415-***-**** laurakel *****@*****.***

SUMMARY

Senior Commercial Real Estate Professional who performs accurate research and analysis of commercial, multifamily and special-

use properties that helps banks mitigate risk and make sound business decisions. Extensive knowledge of real estate derived from

underwriting, appraisal review, impairment analysis and market research. Draws on 15+ years’ experience in soundly and accurately

analyzing and valuing real estate. Confidently communicates effectively with executive leaders as well as external examiners and

auditors to achieve organizational goals and objectives.

Real estate analysis, research and valuation Risk analysis (credit, collateral, borrower)

Collateral impairment analysis Collections/recoveries

Complex property types Retrospective valuation of real estate

PROFESSIONAL EXPERIENCE

TMC FINANCING, San Francisco 2010 - Present

Commercial Real Estate Underwriter / SBA Underwriter

Provide underwriting and credit recommendations to the Small Business Administration (SBA) on loan requests up to $5 .5 million,

secured by commercial, industrial, retail, office and special-use properties including hotels.

• Two Years’ Performance: underwrote 95 loans with a total project cost of $200 million, by analyzing borrowers’ cash flows and

examining appraisal and environmental reports. All loans were performing loans.

• Analyze balance sheets and profit and loss statements to derive accurate and well-supported cash flow figures.

• Assess economic data to determine reasonableness of cash flow projections on start-ups and other non-stabilized businesses.

EAST WEST BANK, San Francisco, CA (Acquired United Commercial Bank 11/200*-****-****

UNITED COMMERCIAL BANK (UCB), San Francisco, CA 2000-2009

Vice President & Special Assets Officer (2010)

Recovered principal on loan portfolio of 40 accounts totaling $65 million, secured by inventory, accounts receivable, equipme nt and

residential and commercial real estate. Department eliminated during merger integration.

Reduced non-performing assets $5.4 million, by researching and developing workout and asset disposition strategies.

Estimated recovery amounts via foreclosure, and evaluated and recommended recovery strategies with senior leadership;

worked with Bank counsel to implement recovery plans.

Restructured A/B note splits and negotiated note sales and short sales, thereby reducing Bank’s credit loss exposure.

Vice President & Collateral Analysis Officer (2009-2010)

Recruited by UCB executive management (because of excellent track record in valuation of commercial real estate) to be founding

member of Collateral Analysis Department. Initially charged with establishing new policy/procedure and performing real-time 2009

impairment analysis. Subsequently tasked with additional responsibility of resolving and remediating 2008 audit findings.

Carried portfolio of 115 loans totaling $335 million, secured by distressed assets and criticized credits. Performed impairment

analysis of real estate collateral to the standards of FAS 114 to determine specific loan loss reserve.

Performed analysis of appraisals reports and income streams on commercial, multifamily and special-use properties, stabilized

and non-stabilized, to accurately determine property value and loan’s appropriate risk rating.

Analyzed properties in hard-hit, high vacancy areas such as Tucson, AZ, and Henderson, NV, and determined validity and

reasonableness of costs and timeline needed to stabilize collateral property.

Conferred with KPMG to correct material weakness in internal control in loan loss provisioning, loan and OREO valuation,

troubled-debt restructuring and non-accrual loan accounting.

Conducted retrospective valuation of real estate as part of restatement of Bank’s 2008, 1Q09 and 2Q09 allowance for loan loss

reserve, by researching comparables in CoStar, Real Capital Analytics and Bank portfolio.

Managed workflow and deliverables to outside consultants including Deloitte & Touche, enabling simultaneous delivery of

restated 2Q08 and 2Q09 reserve figures.

Managed group in department manager’s absence, meeting the needs of group members, delivering on deadlines, and

satisfying inquiries and requests from CFO and Controller.

Interviewed prospective group members and contributed to final hiring decisions within group.

Laura K. Kellough 415-***-**** *************@*****.***

Vice President & Senior Commercial Real Estate Underwriter (2006-2009)

Provided underwriting and credit decisions to executive management and Board of Directors on loan requests up to $78 million,

secured by commercial properties, multi-tenant retail and for-sale condos. Also underwrote participation loans both as lead lender

and non-lead lender.

Top producer 2006: underwrote and closed $84.5 million, by scrutinizing leases/ground leases, appraisals and environmental

reports, and analyzing borrower’s and collateral property’s cash flows.

Underwrote and closed total of $152 million 2006–2009, comprised of 48 loans of which 98% were performing loans.

Analyzed market and economic data, supply/demand landscape and competitive projects to determine reasonableness of

lease/sale absorption projections.

Managed transaction deadlines on participation loans by working with participating lender, its counsel and Bank’s counsel to

finalize participation agreements, disburse pro rata loan proceeds and close joint escrow.

Specialized in large loans, complex property types and short turn-around times, delivering thorough and accurate analysis by

required deadlines.

Served as lead, mentoring junior underwriters on ongoing basis and managing communications to internal/external customers in

manager’s absence.

Assistant Vice President & Commercial Real Estate Underwriter (2002-2005)

Prepared independent credit recommendations to executive management on loan requests up to $20 million secured by

commercial and special-use properties, and hotels located in California, Arizona and Nevada.

Underwrote and closed $163 million, by analyzing appraisals and performing cash flow analysis for stabilized and non-stabilized

properties, and evaluated leases for expense bases, CAM calculation formulas, rent increases, exit/out clauses and renewal

options/terms. Total funding comprised of 109 loans of which 100% were performing.

Facilitated timely closings by performing advance analysis of title reports for impediments such as tax liens, orders of

abatements and unexpected senior liens.

Trained new employees, including management trainees, in group sessions and one-on-one coaching.

Commercial Real Estate Underwriter (2000-2001)

Underwrote commercial real estate loans up to $6 million with recommendations to senior management, with borrower types

consisting of individuals, LLCs, partnerships and corporations.

Underwrote and closed $40.5 million comprised of commercial, industrial and multifamily properties with 65+ units, by

scrutinizing appraisals, environmental reports and purchase contracts. Total funding amount comprised of 35 loans of which

97% were performing.

Analyzed LLC and partnership agreements to validate managing member/partner authority to pledge real property and incur

debt on behalf of LLC/partnership.

Completed Bank’s first 1031 reverse exchange, by working with Bank’s and borrower’s counsel, escrow officer and

exchange intermediary.

ADDITIONAL SIGNIFICANT EXPERIENCE

Nine years’ experience managing homeowners’ association: president 2007 – present, secretary 2004 – 2007. Oversee analysis of

financial statements, reserve studies and budgets; evaluation and approval of contractors’ bids for capital expenditures; and dispute

resolution.

Over five years’ experience in recoveries, real estate research and analysis, and underwriting of loans for nationally known

companies including Ford Motor Credit Company and Heller Financial (7(a) and 504 SBA lending).

EDUCATION & PROFESSIONAL DEVELOPMENT

BS, Business Administration, Central Michigan University, MI

Concentration: Organizational Administration

Anti-Money Laundering; Information Security; Community Reinvestment Act – UCB.

Excel, Word and PowerPoint – including 2007 & 2010; Salesforce; Box; Dun & Bradstreet; Moody’s Financial Analyst.

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