A useful book for Bank workout officers, negotiators and mediators dealing with real estate borrower/lender relationships
I met Mark Weiss a few years back through a shared interest in Storytelling. With Mark you are never quite sure that you know everything that he does. I knew he had written a book or two (this is his 8th I think), but I did not know about this book. I learned about it when Mark handed me a copy recently and said that he thought I might enjoy reading it. He was right. It is a quick read. The intended audience for the book is really for bank “workout” officers who will be charged with the responsibility of managing negotiations for properties that come into a bank’s portfolio as a result of a foreclosure or other circumstance. Mark has a wealth of experience in these kinds of situations. What makes this book interesting and worth a read is the wealth of knowledge contained in the book, but also the weaving in of his personal stories ( remember, he is an excellent storyteller as well) recounting tales where deals go bad, are rescued ( sometimes) and the lessons learned from both. So, while the book is truly a “handbook” or “desk-reference” for workout officers, it reads a bit like a documentary, and sometimes even as an action story! Another potential audience is anyone who, like me, mediates commercial disputes. Mark’s understanding of the workout process, is a roadmap for negotiators as well as mediators who are concerned with discovering BATNA/WATNA and the real needs and interests of both sides to these workouts. I recommend this helpful, quick and easy read.