GMA is able to follow the whole credit recovery process in every phase, both judicial and extrajudicial.
Obviously, the recovery of mortgage credits is connected to the sale of the assets that have generated them. This is a major competitive advantage for the company: when we started to focus on this activity in 2012, we knew that we would stand out for our specialisation in the real estate sector.
Credit management is a complex activity which, in Italy, falls within an unstable regulatory framework and largely depends on the extremely variable timeframes of the Italian judicial system. In this regard, our structure carefully monitors every step of the recovery process, continuously interacting with the players so as to ensure the utmost attention paid to the procedures and taking into account also the out-of-court operations: a collaborative relationship with the debtors and with the parties involved facilitates the activity and offers new opportunities with respect to the extended timeframes and the bureaucracy fees.
We believe that credit management is a proactive activity which strongly aims at enhancing the assets, such as, for example:
- Assessment of the property value as a collateral for the credit through the REV GMA software;
- Analysis of the comparable data relating to the previous judicial sales. Comparables are often mentioned with reference to the sale of goods on the free market. We stress the importance of assessing what happened in the past to similar properties under similar circumstances;
- Verification of the urban / building / cadastral compliance to the actual state of the buildings, assessment of the costs that may be incurred for the compliance with the law;
- Establishment of relationships with the owner of the property for the submission of new out-of-court agreements, including, for example, the marketing of the property as a collateral and the settlement of the residual debts;
- Development of a targeted business plan with respect to the parameters of the next auction; decisions regarding the opportunity to participate with Re.O.Co and a cap for bid-ups;
- Analysis of the local market and specific marketing activities aimed at improving the auction;
- Participation in judicial auctions coordinated throughout Italy through a network of affiliated lawyers. In case of awarding, coordination of the activities included in the business plan up to the sale or the lease of the property.
Today we still invest and focus on what we do best. In spite of the numerous requests for the management of mixed portfolios, we focus on mortgage credit and those activities for which we stand out from our competitors and provide a significant contribution to our customers for the credit recovery.