Philip Holmes
Director, Head of CMBS Underwriting at Citi
- Role
- Director, Head of Cmbs Underwriting at Citi
- Location
- New York, NY, US
- LinkedIn followers
- 500 followers
Experience
Director, Head of Cmbs Underwriting
Aug 2002 — Present · New York, NY, US
Head of CMBS Underwriting: Promoted in 2010 to oversee the entire underwriting staff to ensure accurate and timely underwriting of U.S. fixed rate CMBS product involving all property types from $1 Million to $1 Billion. Ensure that risks associated with loan transactions are properly identified and structured so the best possible execution during securitization is obtained, while minimizing haircut and kickout potential. As required, help Securitization and Distribution in communicating with B-Buyers, rating agencies, and bond buyers as to the assets’ attributes, qualities, and underwriting rational. Effectively manage the underwriting staff to maximize human resources for the most efficient processing of the product pipeline.Head of Asset Management: During 2008 to 2010 responsibilities included the oversight of the entire CMBS portfolio, which included loan workouts/foreclosures/litigation/REOs, interaction with loan servicers, asset valuation and reporting to senior management, credit, risk, and outside bank regulatory agencies. Additional responsibilities included the complete oversight, re-underwriting, valuation, and presentation of all asset summaries and due diligent information. Initiate, review and approval of all major releases.Head of Portfolio Management: Initially hired for the management of the CMBS portfolio from closing to securitization, including timely reporting to management as to loan issues, positions and dispositions. Oversight of asset summary preparedness for securitization, escrow releases, loan modifications, workouts, and foreclosures. Activities included working with credit and the underwriters both during the quote and approval process as to rating agency criteria and B-Buyer concerns so as to properly structure/underwrite issues associated with new production. Independently identify structural risks and inherent underwriting problems and propose creative alternative solutions. Maintained all servicing relationships.
Education
University of North Texas
Bachelor of Business Administration (B.B.A.), Real Estate
1986
Texas A&M University
Masters of Science, Land Development
1987
Skills
- Mortgage Lending
- Credit
- Structured Finance
- Real Estate
- Asset Management
- Underwriting
- Portfolio Management
- Loans
- Asset Managment
- Commercial Real Estate
- Banking
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