The Corvus Group Forms Troubled Asset Advisory Group

Chicago, IL, February 01, 2010 --(PR.com)-- The Corvus Group, a Washington, D.C.-area firm with nearly $10 billion of real estate assets under management from failed banks, announced it has formed a Troubled Asset Advisory Group (Corvus TAAG).

Chicago-based Corvus TAAG provides specialized staffing and analytical/advisory services to companies involved with troubled and distressed commercial real estate and homebuilder/ residential development debt. The new division’s services include:

> Loan/REO Real Estate Portfolio Due Diligence and Valuation
> Workout and Disposition Services
> Disposition Oversight and Management
> Collateral Services Oversight – Receiverships and Property Management
> Special Servicing Support
> Legal Coordination

“Corvus TAAG allows us to expand our staffing expertise to the growing number of investor groups, servicers and financial institutions now experiencing a broad variety of commercial real estate credit challenges,” says Corvus Group President Tom Rosenfeld.

“Seasoned by the current banking and credit crisis, past savings and loan institution closures, as well as rising commercial mortgage backed securities default situations, our team members help clients minimize risk, maximize balance sheet value and capture cash returns.”

The Corvus Group has supported more than $50 billion in asset transactions for federal agencies, including the Federal Deposit Insurance Corporation (FDIC), U.S. Department of Veterans Affairs, Housing and Urban Development, and the Small Business Administration.

Through a strategic partnership with accounting, tax and business consulting firm RSM McGladrey, Inc., the RSM McGladrey, Inc./Corvus team is one of only eight organizations to support the FDIC with bank closing services.

Since 2008, Corvus has supported more than 30 bank closures nationwide by performing asset management services on distressed real estate loan portfolios. To date, Corvus has serviced and managed more than 25,000 assets from closed banks with an outstanding balance exceeding $10 billion. Of these assets, more than 13,000 have been resolved, with a balance of more than $6 billion.

“The Corvus team delivers proven real estate asset management expertise and knowledge on each FDIC engagement. We are pleased to partner with Corvus in supporting the FDIC with bank closing services,” says RSM McGladrey Managing Director Michael Sher.

Corvus hired Neal Gussis as TAAG’s Managing Director, Asset Management. Gussis comes to Corvus with a 20-plus year history of real estate mortgage, finance and asset management expertise. Joining him as a Corvus Associate is Andrea Lange, previously with Prudential Mortgage Capital Company where she performed loan origination and portfolio management services.

More information about The Corvus Group and Corvus TAAG is available at www.corvus-group.com.

The Corvus Group

Founded in 1997, The Corvus Group provides real estate transactional, receivership, oversight and management advisory solutions to public and private sector organizations nationwide. Corvus also offers advisory services to federal government clients that include lender compliance and regulatory reviews, loan underwriting and closing services, real estate appraisal review, and third-party report management. The firm is based in Washington, D.C. and Chicago.

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