Alan J. Blocher, Esq.
1988-Present: Blocher Consulting, West Caldwell, NJ
Position: Principal
Advise financial institutions and their counsel regarding complex mortgage finance issues. Assisted in the settlement of a national class action, drafting of the settlement documents and preparing analyses of the benefits to the class and the costs to the defendant. Prepared analyses of potential mortgage related litigation to determine possible "theory of the case," evaluated factual background and legal standards to determine likely outcome. Advised bank re: loan and real estate portfolio disposition, including ramification for parent. Provided expert reports and testimony on matters such as:
- Industry standards for residential and commercial mortgage originators, appraisers, servicers, master servicers, brokers, attorneys, title and mortgage insurers and purchasers and the application of those standards to specific fact patterns.
- Bankruptcy law ramifications of mortgage sales.
- Estate tax valuations of mortgage portfolios.
- Projected revenues from mortgage originations.
- Interpretation of yield maintenance provision in a billion dollar mortgage.
1985-1988: E.F. Hutton & Co., New York, NY
Position: First VP, EVP. and Director of Subsidiary
Identified and managed the resolution of a $100+ million problem faced by the mortgage company subsidiary, while overseeing the continued operation of the subsidiary. This
problem arose out of a criminal fraud perpetrated against the previous management; involving second and third mortgages. Responsibilities included:
- Negotiations and settlements of claims brought by institutions to whom loans had been
resold.
- Resolution of several dozen law suits, including several state-wide and one national
class action, challenging the enforcement of the loans in question, with minimal
balance sheet impact.
- Supervision of outside counsel in all litigation.
- Coordination of dealings with law enforcement and regulatory agencies.
- Preservation of the portfolio that had not been adequately serviced for the previous
two years.
- Advice to holding company senior management and those responsible for press
relations at a time when the parent was under extreme pressure.
1983-1985: Merrill Lynch Pearce Fenner & Smith, New York, NY
Position: Vice President
Developed criteria and manual for mortgage transactions in which Merrill acted as principal. Responsible for the underwriting and documentation of all whole loan trades
and private MBS. Advised trading desk on structure of transactions. Assisted sales personnel in discussions with customers.
1982-1983: First Boston Capital Group, White Plains, NY
Position: Vice President Risk Management
Instrumental in the creation of one of the first computerized mortgage origination programs, known as Shelternet. Responsibilities included:
- Providing the mortgage banking expertise for development of the computer programs.
- Developing a network of title closers and insurers to assure that loans were closed to specifications.
- Arranging for mortgage insurance and guaranteed review underwriting of realtor originated mortgages.
- Contracting for document controls and sale of servicing.
- Developing fidelity and errors and omissions coverage for realtor originators.
- Gaining approval of the concept by FNMA, FHLMC and institutional investors.
1973-1981: Federal Home Loan Mortgage Corp. ("Freddie Mac"), Washington, DC
Position: Vice President Mortgage Programs and Services:
Managed areas responsible for:
Servicing
- Established mortgage servicing standards and requirements for all Seller/Servicers.
- Developed internal policies and procedures.
- Coordinated with Fannie Mae, governmental and industry groups.
New Program Development
- Evaluated potential new mortgage programs including financing mechanisms and the
establishment of program standards.
- Wrote, published and distributed all mortgage purchase documents, manuals,
educational and promotional materials.
- Implemented Congressionally mandated programs in the face of conflicting economic
and political pressures.
Community Affairs
- Evaluated programs and materials to assure non-discriminatory in appearance or
application.
- Developed data and approach to measure progress.
- Created educational programs for staff and seller/servicers regarding fair lending
practices.
- Coordinated with governmental, industry and borrower groups.
Prior to 1973: Various duties with two savings banks and a mortgage banker including
the creation of one servicing department (Countrywide Funding Corporation) and the management of another (Dime Savings Bank ) Ran the personnel function of one bank and served on a special work management project for another.
PROFESSIONAL ACTIVITIES
Member: Maryland Bar (1981)
Author: Law Review article about the secondary mortgage market
Lecturer: MBA School of Mortgage Banking
Speaker, Panelist: Numerous programs sponsored by trade associations
Arbitrator: American Arbitration Association, National Association of Securities Dealers
EDUCATION
J.D., Catholic University of America (1981)
B.A. in Economics, Brooklyn College (1969)
|
Blocher Consulting