SUMMARY OF PREVIOUS ASSIGNMENTS

 

* Advisor to a group seeking to establish an advanced, more efficient financing program for manufactured housing, with take-out funding via a private mortgage-backed securities conduit to be created. Orchestrated a commitment from a venture capital company to provide start-up financing of $10 million upon the completion of an operating infrastructure for the firm.


* Start-up consulting for public housing agencies in forming a unique low-to-moderate income housing program financed with tax-exempt bonds. For the public agencies, formed a mortgage banking company with full operating capabilities and warehouse lines to originate and service the special lease/option real estate transactions generated by the program. Over two-years, funded $20 million in bonds, sold monthly as the transactions were originated, an approach implemented by Mr. Struck that eliminated warehousing and pipeline management risks. Upon conclusion of the program, transferred a fully operational and current servicing system for the outstanding transactions and bonds to a traditional mortgage servicing firm.


* Turn-around consulting to a securities broker-dealer owned by a real estate development and property management company. Served as temporary president, CEO, NASD compliance officer. Developed two attractive M&A opportunities for the firm, one involving the acquisition of a smaller broker-dealer and the other involving the merger of the company into a larger firm.


* Start-up consulting to a firm specializing in organizing real estate and mortgage funds and REITs, addressing the compliance, organizational, and marketing functions required to establish a NASD broker/dealer subsidiary, serving as its initial CEO and NASD compliance officer. Client did not accept Mr. Struck’s advice regarding NASD compliance requirements, at which point he ceased working with them. Approximately six months after his departure, the firm was closed down because of the lack of compliance with the requirements he had identified.


* Corporate re-engineering consulting to a Silicon Valley on-line mortgage-banking company, providing advice in the establishment of its on-line functions and the corporate reorganization required to go public. Provided assistance in strengthening their operating platform and operating profits. Company remains a client in-so-far as the possibilities of going public or being acquired.


* Start-up consulting to an investment firm specializing in REITs, establishing a commercial real estate finance company, with Mr. Struck serving as its initial temporary CEO, and developing a $200 million pipeline of business. Turned the operating company over to the client.


* Turn-around consulting to a venture capital firm, serving as the temporary CEO of a $100 million monthly production, residential mortgage banking company while determining the corporate re-engineering required to take it public. Obtained an attractive offer to purchase the mortgage banking company.


* Mortgage-backed securities marketing consulting to a top-five mortgage banking company. Established a MBS marketing department within its capital markets division, which was a securities broker-dealer, that efficiently serviced the mortgage pass-through, CMO, and derivative securities portfolio needs of the largest investment fund managers in the nation. The securities broker-dealer then became and remains one of the leading MBS trading firms.


* Portfolio management consulting to a candidate running for the treasurer position for Orange County, CA. Completed a risk analysis and valuation of the $20 billion investment fund that was managed by an incumbent county treasurer. The fund consisted primarily of agency bonds, mortgage-backed securities, and derivatives. Mr. Struck identified risks factors that subjected the fund to the potential for major losses and provided portfolio management restructuring recommendations to address these risks, which eventually proved to be very timely. The candidate Mr. Struck assisted publicly voiced very strong concerns about the condition of the pool, which received extensive press coverage. Even so, the incumbent treasurer was reelected and the risks were not addressed. But, six months after his reelection, the pool collapsed, creating the largest bankruptcy of a public entity in U.S. history, and then the incumbent was removed and replaced by the candidate Mr. Struck had assisted.


* Asset-liability consulting to one of the largest real estate developers in Hawaii, who had substantial loans against his properties from large Japanese banks. The Japanese market was collapsing and the banks were looking to get out of their loan commitments. Completed an overall portfolio evaluation, and provided strategic planning and advisory services in portfolio management and restructuring, and in debt restructuring and repayments, which proved to be very beneficial for the developer and the Japanese banks.

 

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