MICHAEL OLSON
Lisle,IL
Summary
Experienced in commercial real estate finance, consistently delivering exceptional financial services to clients and effectively managing complex loan transactions. Possess a strong grasp of credit analysis, loan origination, and closing processes, bringing a deep understanding of the industry to every project. Ability to prioritize tasks and manage time efficiently ensures on-schedule completion of projects with utmost attention to detail.
Overview
23
23
years of professional experience
Work History
Team Lead - Specialty Finance
CIBC Bank USA
11.2023 - Current
- Manage a team of underwriters supporting the Specialty Finance team which includes new originations for homebuilder finance, REIT finance, note on note finance and middle market income producing projects
- Review and negotiate loan documents with clients.
- Used critical thinking to break down problems, evaluate solutions and make decisions.
- Collaborated with other team leads to streamline workflows, improve interdepartmental coordination, and achieve business goals collectively.
- Enhanced overall team performance by providing regular coaching, feedback, and skill development opportunities.
- Mentor credit analysts within the commercial banking training program that rotate through commercial real estate.
Managing Director - Homebuilder Finance
CIBC Bank USA
04.2021 - 11.2023
- Cultivated and strengthened lasting client relationships using strong issue resolution and dynamic communication skills.
- Underwrote new off-balance sheet transactions with existing clients to continue to maintain loan commitments and outsandings as prior loan originations paid off
- Negotiated loan documentation and completed the closing and funding process for over $300MM of replacement loan originations
- Built the lot option banking portfolio monitoring and tracking reports to ensure accurate reporting to risk management about portfolio performance.
Managing Director - Distressed Assets
CIBC Bank USA
04.2020 - 04.2021
- Managed a portfolio of distressed commercial real estate loans, totaling $300 million in total CIBC commitments, comprised of primarily of office and hospitality assets throughout the United States
- Deal sizes ranged from $10 to $100 million with an average hold size of $20 million
- Negotiated and documented terms of debt restructures and short sales between the bank, borrower, and co lenders
- Represented credit risk management on quarterly Watch loan conference calls, making recommendations to the line of business on credits to avoid further downgrades and transfers to special assets.
Managing Director - Homebuilder Finance
CIBC Bank USA
06.2018 - 04.2020
- Founding member of the homebuilder finance group for the Bank, growing the portfolio from $0 to approximately $1 billion of commitments and $650 million of loan outstandings in the initial 18 months
- Clients consist of members of the Builder 100 and large off balance sheet capital providers for the Builder 100.
Vice President - Specialty Finance
BMO Harris
09.2017 - 05.2018
- Underwrote new loan originations for hospitality assets throughout the United States
- Supported the building of a new for-sale housing business group in 2018, including underwriting guidelines and asset management monitoring systems
- Updated senior real estate management and credit risk partners with a comprehensive portfolio review on a quarterly basis, including concentrations of risk (location, hotel flags, and other risks).
Vice President - Commercial Real Estate
Associated Bank
08.2015 - 09.2017
- Joined a newly formed homebuilder finance group to generate new loan origination with a focus on regional condo developers and homebuilders based in the Midwest
- Originated a total of $200MM of new for-sale construction loans in the first full year
- Migrated to an existing middle market income producing property finance team due to employee churn on that team
- Closed existing deals in the pipeline from prior management with time sensitive closings for the clients, including acquisition loans with earnest money at risk.
Asset Manager - Real Estate Services
U.S. Trust (Bank of America)
11.2013 - 08.2015
- Management, acquisition, and disposition of commercial and residential real estate assets throughout the country held in personal trusts and estates
- Managed the analytics team that reviewed all prospective acquisitions by US Trust on behalf of clients.
Senior Vice President - Distressed Assets
Bank of America
01.2008 - 11.2013
- Managed a portfolio of distressed commercial real estate loans, totaling $1.111 billion in total commitments, comprised of residential, retail, and industrial assets throughout the United States
- Deal sizes ranged from $500,000 to $100 million with an average hold size of $30 million
- Completed $1.034 billion of final resolutions of assets, with $43 million in total recoveries of charge offs
- Portfolio primarily consisted of failed condo and tract housing developments, lifestyle shopping centers and regional malls throughout the United States
- Assessed collateral and guaranty repayment capacity and made recommendations to credit risk management on the best resolution strategy
- Negotiated and documented terms of debt restructures and short sales between the bank, borrower, and co lenders
- Three bankruptcies were part of the portfolio and included 363 sale liquidations and debt restructures with eventual return to accrual status/transfer back to the line of business
- Bank group syndicate composition ranged from 2-7 bank transactions, nearly all with Bank of America as Administrative Agent
- Bank group members ranged from community banks to money center banks with the FDIC taking over some positions during the workouts.
Vice President - Commercial Real Estate
LaSalle Bank
06.2001 - 12.2007
- Prepared loan proposals for both income producing and for-sale commercial real estate developments
- Completed formal commercial credit training program in December of 2001.
Education
Bachelor of Science - Finance
DePaul University
Chicago, IL06.2001
Skills
- Customer Focus
- Relationship building and management
- Coaching and Mentoring
- Documentation Review
- Risk Management
- Loan structuring
- Goal-Oriented
- Attention to Detail
Volunteer Activities
DuPage/CSS Habitat for Humanity ReStore Board (April 2023-Present)
- At Large Member of the Board of Directors. Board members responsible for the oversight and goal setting of the executive director, budgeting for fundraising and operations, and strategy for new store locations and in-kind product sourcing.
- Currently, Governance Committee chairperson, responsible for establishing new governance policy for the Board of Directors. Also responsible for the recruitment, recommendation and onboarding of new board members.
Village of Lisle Board (May2023-Present)
- Elected as a Village Trustee in the April 2023 municipal election.
- Responsible for the oversight of the Village Manager and police department and budgeting process for the Village of Lisle.
Lisle Park District Board (May 2007-May 2021)
- Elected to the Board of Commissioners in April 2017 as a first-time candidate for any office.
- Responsible for the oversight of the management team and budgeting process for the Lisle Park District.
Green Trails Improvement Association (January 2009-Present)
- Treasurer for the Association from 2011-2016, with duties including reviewing and presenting financial statements at monthly open meetings.
West Suburban Community Pantry (January 2008-Present)
- At Large Member of the Board of Directors from May 2016 until reaching a term limit in June 2022. Board members responsible for the oversight of the executive director, budgeting for fundraising and operations, and vision for the direction of the Pantry.
- Initial Governance Committee member (August 2017), responsible for establishing new governance policy for the Board of Directors. Also responsible for the recruitment, recommendation and onboarding of new board members.
- Assist with general operations, including working with clients, for approximately 75 hours annually.
Timeline
Team Lead - Specialty Finance
CIBC Bank USA
11.2023 - Current
Managing Director - Homebuilder Finance
CIBC Bank USA
04.2021 - 11.2023
Managing Director - Distressed Assets
CIBC Bank USA
04.2020 - 04.2021
Managing Director - Homebuilder Finance
CIBC Bank USA
06.2018 - 04.2020
Vice President - Specialty Finance
BMO Harris
09.2017 - 05.2018
Vice President - Commercial Real Estate
Associated Bank
08.2015 - 09.2017
Asset Manager - Real Estate Services
U.S. Trust (Bank of America)
11.2013 - 08.2015
Senior Vice President - Distressed Assets
Bank of America
01.2008 - 11.2013
Vice President - Commercial Real Estate
LaSalle Bank
06.2001 - 12.2007
Bachelor of Science - Finance
DePaul University
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