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Clay Barnes

Novato, CA

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➢ 25 years experience in commercial mortgage loan underwriting, servicing, loan review, real estate workout, general credit risk management, capital markets, structured finance, investment management, and commercial banking, private equity and venture capital 
➢ Strong acquisitions, credit, risk management, financial, accounting and modeling experience in a variety of financial business lines; formal bank credit training 
➢ Experience in acquisitions of financial institutions (federally assisted and open basis) 
➢ Keen understanding of complex lease, loan, bond (CMBS, REMIC, CDO) securitization trust structures, private equity and fund investment management

Work Experience

Banking and Securities

Deloitte and Touche, LLP
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June 2010 to July 2011

Professional in the Financial Services Industries group focused on credit risk management services offering within the Banking and Securities practice.

Independent Consultant

Financial Services Industry
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2007 to 2010

Provided consulting services to various clients in the financial services sector, including portfolio assessment and risk strategy, troubled debt restructure advisory, bankruptcy strategy, debt investment management, loan workout, loss mitigation strategy and servicing support services.

Vice President

Redwood Trust, Inc
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Mill Valley, CA
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2005 to 2007

Established commercial mortgage debt investment and management platform. Managed group of real estate and fixed income professionals with principal oversight of $1 billion subordinate bond portfolio with underlying commercial real estate debt exceeding $62 billion. Principal oversight of company's commercial mortgage, mezzanine loan, and subordinate CMBS bond investments, including surveillance, servicing, valuation, and disposition management.

Vice President - Real Estate and Asset Risk Management

Criimi Mae, Inc
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Rockville, MD
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2002 to 2005

Responsible for real estate underwriting, asset risk management and valuation of $13 billion mortgage portfolio, including approximately $2.0 billion distressed loan portfolio. Principal oversight of company's commercial mortgage, mezzanine loan, and approximate $2 billion subordinate CMBS bond positions, including servicing, loss mitigation, pursuit of mortgage repurchase claims, valuation and reporting, disposition, and projected loss profile and bond mark to market valuation. Developed framework for compliance with Sarbanes-Oxley in critical period of market turbulence for credit affected structured finance investments. Awarded REFI's CMBS Innovator of the Year award for crafting creative structured resolution to industry's largest default/modification and related liquidity servicing advance problem.

Managing Director

ARCap REIT, Inc
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Dallas, TX
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1996 to 2001

Performed bond transaction modeling and underwriting of commercial mortgage loans in high-yield CMBS and alternative investments. Responsible for development of mortgage underwriting and CMBS acquisition platform; bond and mortgage monitoring, surveillance and loss mitigation including portfolio, property type and mortgage specific stress methodologies, acquisition due diligence, and oversight of bond trustee, mortgage servicer, and rating agency relationships.

CMBS Acquisitions

Banc One Management and Consulting Corporation
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Dallas, TX
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1992 to 1996

Performed investment analysis of non-investment grade CMBS and distressed RTC/FDIC debt pools to formulate equity investment rates of return under various purchase price, mortgage stress, and collection recovery assumptions.

Asset Review Officer, Acquisitions, Put Officer, Credit Policy

Team Bank
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Dallas, TX
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1989 to 1992

Performed portfolio analyses on credits originated by new bank for management's use in assigning appropriate reserves (ALLL) in the bank's commercial, private, mortgage, correspondent, retail and REO portfolios. Provided portfolio review for bank acquisition evaluation on target acquisitions of both open and failed financial institutions. Assisted in the management of the bank's federal assistance agreement governing loans of financial institutions acquired with loss sharing arrangements.

Credit Analyst - Credit Policy Division

BancTexas Dallas, N.A
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Dallas, TX
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1988 to 1989

Successfully completed formal bank credit training program, serving as a Credit Analyst within the Credit Policy Division.

Education

BBA in Finance

Texas Tech University -
Tech, Texas, US

1988