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With the significant numbers of subprime mortgages in serious past due status, the regulatory agencies are strongly encouraging financial institutions to implement loss mitigation strategies to avoid taking nonperforming mortgage borrowers into foreclosure. However, loss mitigation strategies may involve modifying loans to reset terms to a more affordable level for borrowers. When loans are modified, it is possible that these modifications could trigger a troubled debt restructuring. Knowing what triggers a troubled debt restructuring and how to account for the modifications can be complicated, but essential to meet regulatory and GAAP accounting requirements.

This important audio conference will help you understand when and how to comply with troubled debt restructuring rules. We cover issues such as:

• What types of transactions may be troubled debt restructurings?
• What does a modification of terms include?
• Steps in determining whether a modification of terms is a troubled debt restructuring
• Creditor's accounting for a troubled debt restructuring involving a modification of terms on a loan held for investment
• Aggregation of impaired loans, including troubled debt restructurings, under FAS 114
• Application of FAS 114 to modifications of residential mortgages that are troubled debt restructurings
• How is original effective interest rate determined on an adjustable rate mortgage?
• Should residential mortgages whose terms are modified in a troubled debt restructuring be placed in nonaccrual status?
• Accounting for a modification of terms on a loan held for sale
• Federal income tax implications for borrower
• And more!

Registration Includes:

• Admittance to the 90-minute call for as many people as you can fit in a room with a speakerphone
• Access to the specially created presentation handouts (made available 48 hours in advance) which can be printed and used
• Participation in a 30-minute live Q&A with the speaker following the presentation
• Certificates of completion for all audio conference attendees

About the Speaker:

Gary M. Deutsch, CPA MBA CMA CBA CIA has worked extensively with financial institutions in audit, lending, financial, and operational areas. He has served in senior positions for regional banks as VP of Finance, Real Estate Loan Officer and Senior Audit Manager. Mr. Deutsch served as a consultant to financial institutions in strategic planning, profit improvement, financial management, and merger- and acquisition-related studies while working at KPMG. He was the CFO at a start-up bank, where he organized the accounting, finance, and investment functions to manage significant growth.

Mr. Deutsch is the President of BRT Publications LLC, a professional authoring company serving the financial industry. Some of his published works for AlexInformation include ALM Management Manual, Loan Procedures Manual, Practices and Procedures for Financial Institutions Risk Management, Bank Controller’s Manual, Internal Audit Procedures Handbook, and Risk-Based Audit for Financial Institutions.

For permission to photocopy or use material electronically from A. S. Pratt publications you can visit the Copyright Clearance Center, Inc. online with your requests.

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