DS News - U.S. Bank

DS News - May 2018

Issue link: http://dsnews.uberflip.com/i/975135

Contents of this Issue

Navigation

Page 53 of 99

52 Loss Mit Tech and Services Guide SPECIAL ADVERTORIAL SECTION Nationwide coverage; United States, Puerto Rico, Guam Boca Raton, Florida Corporate Headquarters BK GLOBAL KEY PERSONNEL Brad Geisen CEO Patrick Butler SVP, Business Development / Corporate Broker Steve Shiller SVP Robert Shiller VP, Operations GEOGRAPHICAL SCOPE AND COVERAGE AREA: Nationwide BUSINESS LINES, SERVICES, AND PRODUCTS: Bankruptcy Real Estate Sales Servicer & Platform and Claim X Change. KEY FEATURES/BENEFITS: » Bankruptcy Loss Mitigation » Maximum Mitigation for the Investor » Transparent process administered by the Trustee and Court approved CORPORATE DETAILS: 1095 Broken Sound Pkwy, Suite 100, Boca Raton FL 33487 | 855.658.1254 SShiller@BKGInc.com | BKGInc.com COMPANY DESCRIPTION: BK Global is a National Bankruptcy Solution provider. BK Global runs a national online bankruptcy platform that consists of a network of Chapter 7 Bankruptcy Trustees, Servicers, Attorneys, and certified bankruptcy Real Estate Agents that transact and expedite real estate sales through the bankruptcy process. COMPANY HISTORY: BK Global was founded in 2015 to bridge the gap between Servicers and Trustees to create a better method of mitigation in bankruptcy. REGULATORY COMPLIANCE: BK Global's program maintains its compliance through the rules and procedures of the Federal Bankruptcy court system, administered by the Trustee. All sales are reviewed and approved by the courts which minimizes compliance risk to Servicers. ADDED VALUE TO CLIENTS: BK Global has developed a technology platform connecting servicers, trustees, attorneys, real estate brokers, title companies, and asset managers, streamlining the process and making it easy to liquidate assets in bankruptcy. BK Global and its technology make the sales process transparent, fair, and easy to implement for all stakeholders. COMPETITIVE ADVANTAGE: BK Global was founded with the vision of creating a better method of mitigation in bankruptcy. The company saw bankruptcy as a "black hole" where properties would get stuck in, and the only path for servicers to mitigate it would be to file a Motion for Relief and then foreclose. This is a long, costly path of disposition where all stakeholders lose out. Bankruptcy law under §363 of the bankruptcy code offers several ways servicers and trustees can sell or credit bid on a property while in bankruptcy, minimizing costs and drastically truncating the disposition timeline. BK Global has created several programs giving servicers better choices for their investors. KEYS TO SUCCESS: BK Global realized that there are about 1,400 Chapter 7 bankruptcy trustees nationwide and that they lacked the data, tools, and analytics necessary to administer over-encumbered real estate sales in bankruptcy. In response, BK Global built a platform and empowered them so they can make better decisions quickly and efficiently. The fact that BK Global bridges gaps from multiple industries with a state of the art technological solution is what sets their company apart. BK Global creates a winning combination for all parties involved in the loss mitigation and real estate transaction. INDUSTRY AWARDS, ACCOLADES, AND MILESTONES: BK Global has developed the first and only technology platform empowering trustees. The company has developed two successful sales programs in bankruptcy and created the Claim X Change. The company created the National Bankruptcy Broker Network, a nationwide network of brokers that are trained in the sale of bankruptcy properties. The company has developed a specific broker training course and a trustee document resource technology, making it easy for trustees to create court documents in all 93 court districts. Additionally, the BK Score ® analyzes the complexity of salability for real estate in bankruptcy and it rates assets for trustees to determine which assets to sell in bankruptcy. BK Global also received various technology awards.

Articles in this issue

Links on this page

view archives of DS News - U.S. Bank - DS News - May 2018