#ActingLocal:
In MyCredit, the management of NPLs takes place through a territorial approach by carrying out concrete market researches on the marketability of properties. The expert evaluation is an important technical element, but it is the real price indicated by the market which really makes the difference.
#Coaching
At MyCredit, the management of NPLs takes place through a supportive approach that involves direct contact with the debtor and a planned step-by-step procedure. It is therefore possible to bridge the gap between the transfer value and the real market value of the collateral, through a customized method called Coaching.
15/11/2023
Our CEO Mirko Tramontano was interviewed by Milano Finanza on the outlook for the NPL market in Italy for this and next year.
The full interview is available here.
10/11/2023
My Credit Spa, a company specialized in the valorization of NPL and UTP Secured assets and portfolios, acted as Arranger and Noteholder in the new securitization of Brenta SPV.
The transaction also involved Gardant - through its subsidiary Master Gardant S.p.A. - in the role of Servicer, Corporate Services Provider, Paying Agent, Calculation Agent and Representative of the Noteholders.
The securitization has as its underlying impaired loans largely backed by mortgage guarantees, sold by a leading banking group with participation from 27 banks in the group, as well as loans sold by another securitization vehicle, with an underlying collateral collateral consisting in total of more than 1,000 real estate assets.
For the legal aspects, My Credit was assisted by Andersen with attorneys Marco Giorgi and Andrea Ferrandi; Master Gardant S.p.A. was instead assisted by Eversheds Sutherland with attorneys Umberto Mauro and Rossella Severi.
"We are particularly pleased with the finalization of this transaction, entirely structured by the MyCredit team together with all the partners mentioned who provided support: an important milestone for the growth of our group, firmly positioned in the real estate non-performing market," said Mirko Tramontano, CEO of MyCredit.
"This transaction confirms the centrality of the master servicing and securitization services business in the Gardant Group's strategy, which aims to offer its partners the widest parterre of high value-added services and solutions in the world of receivables and related capital markets structures," said Paolo Peruzzetto, Head of Business Development at Gardant.
20/09/2023
Dario Bettinelli, COO and Co-founder of MyCredit, was interviewed by Pambianconews Real Estate on the topic of NPLs and how, in a shrinking economic cycle and with rising interest rates, the NPL market offers investment opportunities but also requires appropriate recovery strategies and adherence to business plans.
According to Bettinelli, although indicators show an increase in NPLs due to the prolonged macroeconomic situation, the Italian real estate market remains stable overall.
Currently, the value of loans under management at MyCredit amounts to EUR 350m and, in the last year, it has reached total investments of around EUR 100m.
Thanks to a network of about 1,000 brokers in the territory, MyCredit is able to assess asset by asset and perform a comprehensive, analytical on-site verification. The growth strategy is to steadily increase investments and to end the year with a further increase of around 20-30 million equity.
10/05/2023
On Aziendabanca, an article by Mirko Tramontano on the outlook for non-performing loans and the growing need for specialized figures.
The market that revolves around the recovery of Non Performing Loans, in fact, is moving more and more in the direction of the specialization of operators. A choice that appears strategic in front of the significant masses of present impaired credits and especially for their different types.
These are, in fact, very different loans and in order to arrive at their "grounding" a segmentation of portfolios according to their peculiarities will be needed, accompanied by increasingly specific professionalism of the operators. Not least because it is estimated that the series of crises that have been marking these last few years, starting in 2008, will push for further growth in NPL/UTPs.
The full article is available here: https://www.aziendabanca.it/notizie/imprese/crediti-deteriorati-immobiliari-specializzazione
My Credit SPA
Via Aldo Moro, 13 – Palazzo Mercurio, 25124 Brescia (BS)
info@mycreditspa.it
+39 030 5233130
VAT number 04111870988
REA number BS - 589250
Share capital fully paid up 714.286 euro
