Credit Specialist

Patrick L. White

**** ******* ****, *********, ** 37922

(H) 865/531-7855 (M) 865/405-0368

PROFESSIONAL EXPERIENCE

Ridge Title Insurance Company, Inc. – Oak Ridge, TN - October 1993 to present

President/Attorney at Law

Following my departure from the FDIC in October, 1993 I became president of a real estate title insurance company providing complete escrow closing services, title insurance, document preparation and real estate law advice for both commercial and residential clients throughout east Tennessee. I have personally overseen three separate closing offices, including seven employees. I am well versed in all types of title insurance policies, closing documentation, escrow and title procedures having closed an average of thirty loans per office, per month, for the last fifteen years.

Resposibilities Include:

Title Insurance underwriting, claims analysis, defense and loss mitigation. Managing any and all claims that may arise including title correction issues, bankruptcy, title litigation, correction documents, and negotiating workouts with the intention of reducing liability to the insurance company while still protecting the interest of the insured.

Extremely familiar with all types of notes, mortgages, negotiable instruments, guarantees, HUD.1 settlement statements, certifications, title insurance waiver forms, mortgages, deeds of trust, DOT riders, warranty deeds, quitclaim deeds, special warranty deeds, trustee’s deeds, substitution of trustee, demand letters, sales contracts, land contracts, leases, easements, rights of refusal, maintenance agreements, assignments, waivers, subordination agreements, releases, leasehold agreements UCC-1's and truth in lending statements, having drafted and reviewed thousands of said documents over the past 15 years.

Well versed in all types of ALTA title insurance forms, including commitments, policies, and endorsements for both lender’s and owner’s policies. I have drafted and reviewed commitments and policies, preparing schedules A, B-1, B-2 and C. Cognizant as to how those policies operate to protect the title underwriter as well as the policy holder.

Have coordinated multiple title correction issues relating to outstanding title policies, bankruptcy, title litigation, drafting and recording correction documents as well as negotiating workouts, restructures and settlements with all parties.

Have personally conducted multiple foreclosures through all phases including drafting the documents (substitution of trustee, trustee’s deed) scheduling the sale, ordering the publication and conducting the sale at the respective county courthouses.

Routinely coordinate and consult with title insurance underwriters regarding underwriting questions that arise relating to pending transactions or potential claims.

Federal Deposit Insurance Corporation (FDIC) – Atlanta, GA – 1989 to October 1993

Jacksonville Federal Savings Association (JFSA) – Jacksonville, FL – 1993

Assistant Managing Agent/General Counsel

Appointed by the FDIC to manage an undercapitalized financial institution in conservatorship. JFSA had over $200mm in total assets and ten branches throughout greater Jacksonville.

Responsible for the ongoing management of the institution in preparation for sale.

Duties included the oversight of the institution operations in accordance with RTC policies and procedures.

Review and approval of all credit decisions at the institution including asset sales, workouts/restructures, title problems, foreclosures and the extension and denial of credit to the institution’s customers.

Managed outside counsel assigned to asset litigation, collections, title insurance claims, bankruptcy and foreclosure.

Program Manager (FDIC)- Atlanta, GA – 1992

Responsible for the management of a government contractor assigned to manage and liquidatel portfolios of real property and commercial loans under two Standard Asset Management Contracts. The two contracts contained over 1,800 assets with a book value in excess of $500mm.

Responsible for contract administration including compliance with all policies, procedures, and reporting requirements.

Review and approval of all asset sales, restructures, foreclosures and workouts.

Monitored and reviewed all activities of the contractor including directing the contractor’s twenty five asset managers in their management and disposition of the assets.

Directly supervised three subordinates ensuring that the department’s program goals and administrative procedures were implemented.

Served as technical advisor to the Director for all substantive matters pertaining to the Field Office’s Asset Contract Management Program.

Delta Financial Corporation, Inc. (Delta) – Annapolis, MD

Credit Specialist (FDIC)– April 1991 to March 1992

Appointed by the FDIC to manage Delta, a wholly owned subsidiary of First Federal Savings Bank of Annapolis, then under FDIC receivership. Delta held over thirty five commercial real estate investments consisting of real estate partnerships, both general and limited joint ventures, commercial loans, and mortgages. Total assets exceeded $50mm. Responsible for the management and liquidation of the corporation’s assets and business affairs in order to maximize return.

Management of all investment, legal, and administrative decisions.

Oversight management of Delta’s attorneys on over twenty commercial transactions involving non-performing loans, assets, sales, partnership acquisitions and dissolutions, liquidations, collections, workouts, bankruptcies, foreclosures, restructures, and commercial litigation.

Management of all corporate formalities regarding the sale of assets, the appointment of officers and directors and working with the corporation’s directors, stockholders, debtors, creditors and partners.

Responsible for the supervision of the corporation’s seven employees including four professionals.

Bank of New England (BONE) – Boston, MA

Asset Specialist (FDIC)– November 1990 to March 1991

Assigned to a Special Task Force to aid in the closing of BONE and the transference of substantially all of BONE’s assets to a newly chartered Federal Bridge Bank.

Responsible for the identification and documentation of all BONE subsidiary corporations. Made recommendations as to which subsidiaries were transferred to the Bridge Bank and which ones were retained by the Receiver.

Supervised four FDIC professionals, including two attorneys, as well as BONE subsidiary management personnel.

Baltimore Federal Financial, FSA (BFF) - Baltimore, MD

Managing Agent (FDIC) – April 1989 to October 1990

Managing Agent appointed by the FDIC to manage an undercapitalized financial institution under conservatorship with $1.7B in assets, thirty offices, three subsidiaries and five hundred and fifty employees. Responsible for the ongoing management of the institution in preparation for sale and/or liquidation.

Directly supervised ten senior staff members who managed the institution’s daily affairs.

Served as Chairman of the institution’s Asset/Liability and Special Asset Committees.

Coordinated all reporting requirements and served as liaison with the FDIC senior management in Atlanta, GA.

Supervised a staff of three attorneys who served as in-house general counsel, as well as, all attorneys responsible for the on-going litigation and asset and portfolio sales of the institution.

Credit Specialist/Assistant General Counsel (FDIC)

As Credit Specialist, responsibilities included all credit decisions made at BFF with primary focus on managing the institution’s $400mm commercial real estate portfolio.

Approved all extensions and denials of credit, loan restructures, and collections.

Supervised ten account officers and all loan servicing and administrative personnel.

Southeast Bank, N.A. - Miami, FL

Assistant Vice President - 1986 to 1989

Commercial real estate construction project financing. Represented the institution on new lending for commercial construction projects in Broward, Palm Beach, Martin, and St. Lucie counties. Originated, underwrote, negotiated and administered a variety of commercial loans on real estate projects throughout south Florida. Managed the project’s financing during all phases of construction from land acquisition to loan payoff. Reviewed and approved all draw requests and engineering site inspection reports. Formal credit training.

Merrill, Lynch, Pierce, Fenner and Smith – Atlanta, GA

Associate, Mortgage Banking Group - 1985 to 1986

Represented a variety of development groups in obtaining construction and permanent financing on commercial real estate projects. Prepared, marketed, and placed investor submission packages. Duties included site inspections and financial analysis of a variety of commercial properties throughout the southeast.

EDUCATION

University of Tennessee - Knoxville, TN

Doctor of Jurisprudence – 1985

Master of Business Administration – 1982-1984

Bachelor of Science in Business Administration with Honors – 1981

University of Wisconsin – Madison, WI

Certificate – Commercial Real Estate Finance, Graduate Program – 1988

OTHER

Tennessee Law License

Tennessee Title Insurance License

Current member of the following boards/organizations:

Ridge Title Insuance Co., Inc.

West Knox Solway Storage – Knoxville, TN

Partner

Westlake Baptist Church – Knoxville, TN

Trustee and General Counsel

MPT, LLC – Knoxville, TN (Mortgage loan servicing company)

Past member of the following boards:

Baltimore Federal Financial, FSA – Baltimore, MD

Bancsmiths Mortgage Corporation – Baltimore, MD

Del Lago Conference and Resort – Houston, TX

Delta Financial Corporation – Annapolis, MD

Jacksonville Federal Savings Association – Jacksonville, FL

DOB: July 17, 1959

Married, two children

Contact this candidate