MIBA Lobbying Report Andy Arnold Arnold & Associates agreement can strengthen the bank’s collection position, streamline the liquidation process and protect the bank against claims by a borrower. Prompt and decisive action, based on a thorough understanding of the loan, the borrower and the bank’s negotiating leverage will improve the bank’s prospects for recovery on the defaulted loan. When dealing with a problem loan, it is important to engage outside counsel with workout expertise early in the process, who can develop an appropriate legal strategy, issue spot and quickly move to enforce the bank’s rights and remedies should the workout not be successful. Sherry Dreisewerd helps lenders close complex financial transactions, working with national, regional and community banks to originate real estate, commercial, industrial and asset-based loans. She also helps lenders maximize loan recoveries through restructurings and workouts and has assisted numerous secured creditors, creditors’ committees and business acquirers in bankruptcy proceedings. Sherry can be reached at (314) 333-3934 or sdreisewerd@spencerfane.com. The Missouri House and Senate have spent the first two months of sessions at differing levels of dysfunction. The current Speaker of the House is still under investigation by the House Committee on Ethics for several alleged violations of House rules and state law. The Missouri Senate Freedom Caucus held up floor action in the Senate, demanding senate leadership advance initiative petition reform to make it harder to change the Missouri constitution by the initiative. However, even with the dysfunction, there have been small victories for Missouri’s community banks. Two pieces of legislation, SB 736 sponsored by Senator Sandy Crawford and HB 1803 sponsored by Rep. Terry Thompson, are moving. Both bills would raise the aggregate amount the state treasurer could invest in the MoBucks program. Rep. Thompson’s bill passed the House on Feb. 19, and Senator Crawford’s bill passed the Senate the week of March 4. Both bills are in a good position to be finalized, but we will need to be vigilant as every day is an adventure with this version of the Missouri General Assembly. BANCMAC COMMUNITY BANC MORTGAGE CORP. YOUR COMMUNITY BANK MORTGAGE PARTNER bancmac.com mortgages@bancmac.com 888.821.7729 | NMLS# 571147 BancMac provides correspondent and wholesale lending and is your Community Bank Mortgage Partner to help your financial institution originate fixed-rate secondary market loans including: PROGRAMS • Conventional Loans • USDA Rural Development Loans • Rural Living (Hobby Farm) Loans • VA Loans • Jumbo Loans • FHA Loans OUR PARTNERS RECEIVE: • Superior Service & Competitive Pricing • No Minimum Volumes • Significant, Non-Interest Fee Income • Non-Solicit Protections & More 14 | The Show-Me Banker Magazine
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