Instructors: Bruce Coin

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Abundant experience and acknowledged expert in the inter-related disciplines of income property financing and appraising. Was a cofounder and Managing Director of a highly successful commercial mortgage banking firm and life company correspondent. Sold the firm in August of 2007 Relocated to San Diego, November 2008. In depth experience consulting to financial institutions, law firms and government entities on income producing, real estate requiring sophisticated financing and appraisal expertise, real estate research, and expert reports or testimony in real estate cases as well as loan restructuring, workouts and foreclosures of income properties.

Professional Experience

Bruce Coin Consulting, Inc. Del Mar, CA
January 2009-Present

• Formed to provide consulting services, expert reports, loan restructuring and foreclosure advice, educational writings and classes to the commercial financing industry, law firms and related.

U.S Realty Capital, LLC, Philadelphia, PA
2007-Present

• Remained as consultant and Senior Managing Director after former firm was acquired by USRC in August of 2007. Supported the firm's C.E.O.. Continued to underwrite, close loans and oversee servicing department. Developed and taught six, 1.5 hour training courses for the firm's analysts and underwriters.

Pro-Gressive Mortgage Corp., Wayne, PA
1972-2007

• Cofounder, principal and full-time CEO of Pro-Gressive Mortgage Corp., a commercial mortgage banking firm and life company correspondent specializing in financing investment quality income properties, principally apartment, office, industrial, retail, flex, mobile home park and sundry types.
• Managed all company operations, employees, and finances.
• Personally closed well in excess of $1.5 billion in commercial mortgage financing as construction, interim, permanent or sundry type debt. Structures utilized include 1st and 2nd mortgages, leasehold and condominium estates, joint ventures, participating mortgages, credit enhancements, mezzanine loans, standbys, wraparounds, ground leases and others.
• Developed and administered a servicing portfolio of over $200 million of commercial mortgages for Pro-Gressive's correspondent companies.
• Handled loan restructurings, foreclosures on behalf of lenders' attorneys, including managing building finances and rent rolls, directing building maintenance, making improvements, handling tenant issues, leasing and ultimately selling foreclosed assets for institutional investors. Projects included foreclosing, improving and selling a 45,000 s.f. multi-tenant warehouse, a 105,000 s.f. retailer's mixed use headquarters facility and a 200,000 s.f. warehouse
• Personally secured regional correspondent relationships with Thrivent Financial for Lutherans, (formerly Aid Association for Lutherans) the Great-West/Canada Life group, Shenandoah Life and the Independent Order of Foresters. Previous correspondents include Reliance Standard Life, Continental American Life and Provident Mutual Life. Abundant past and present relationships exist with other insurance companies, banks, CMBS sources, credit capital companies and securities dealers.
• Trading area was primarily PA, NJ, and DE.
• Pioneered the use of credit enhancements and joint venture guarantees in 1980 to facilitate the placing commercial mortgage financing as tax exempt or taxable securities in the public debt markets.
• Financed first condominium retail center developed in Pennsylvania in 1972.
• Materially contributed to the development and initial loan portfolio of Fidelco Growth Investors, a publicly traded mortgage R.E.I.T., the first in the Philadelphia region 1970-71.
• Materially contributed to the acquisition, planning, development and financing of two, one story multi-tenant office campuses containing 550,000+s.f. in western suburbs of Philadelphia for business partner between 1973 and 1990. Sold in March, 2007.

Independent Consultant

• Approved contractor for Expert Witness Services, Bureau of Finance & Operations, Department of State, and the Commonwealth of Pennsylvania.
• Provide investigation and formal written Appraisal Review reports as an expert to the prosecutor's arm of the PA State Appraisal Board. It requires extensive experience and knowledge of commercial property appraising, as well as the Uniform Standards of Professional Appraisal Practice (USPAP). Reports are used by the prosecutor's office to impose fines, mandate additional education requirements and/or to suspend or terminate licenses.
• Consult for various real estate developers and real estate firms to guide planning, development and financing.

Expert Testimony and Reports

• Investigate and provide written expert reports to law firms, insurance companies and real estate-related departments of the Commonwealth of Pennsylvania.
• Acted as defendant's expert that aided in the settlement of a $35,000,000 damages claim between a local real estate developer (plaintiff) and a major law firm (defendant).
• Acted as defendant's expert that aided in the settlement of a $3,600,000 damages claim between a landlord (plaintiff) and tenant (defendant).
• Acted as a plaintiff's expert that aided in the settlement of a $9,000,000 environmental damages claim between the owners of a major hotel (plaintiff) and a major oil company (defendant).
• Acted as a plaintiff's expert that aided in the settlement of a $1,000,000 damages claim between a developer (plaintiff) and a major insurance company mortgagee (defendant).
• Acted as a plaintiff's expert that aided in the settlement of an $8,500,000+ damages suit against the U.S. Government (defendant) by apartment owners (plaintiffs).

Teaching & Training Experience

• Guest lecturer, combined Undergraduate/MBA degree, Real Estate Law and Finance Course, University of Pennsylvania's Wharton School: 2003-2007
• Developed and taught, "Permanent Financing Income Property Loans", a PA and DE State Approved Continuing Education Course for Real Estate Brokers and Appraisers, Villanova University: 2003-2004 Developed and taught a series of 1.5 hour classes on income property financing and underwriting to the junior staff of the Philadelphia office of U.S. Realty Capital.
• Guest lecturer to Temple University Finance courses and Widener University M.B.A. courses
• Various lectures to National Conventions of the I.C.S.C. and NARA/MU, as well to special interest groups including Chapters of the Appraisal Institute (MAI), C.C.I.M., N.A.I.O.P., S.I.O.R., S.R.E.A., Savings & Loan League, Builder's Associations as well as national and local banks on topics such as commercial loan underwriting, tax exempt financing and appraisal.
• Co-lecturer to all day "Appraisal Review Seminar" in Philadelphia, PA on multi-family and commercial appraisals. Sponsored by the National Association of Review Appraisers and Mortgage Underwriters. (NARA/MU)
• Created material and was an all day instructor to the Commercial Loan Department of AmSouth Bank, Birmingham, Al on the topic of Income Property Analysis and Appraising of retail centers and apartments.
• Guest panelist discussing commercial mortgage financing to all day seminar sponsored by the Appraisal Institute.

Publications

• Wrote continuing column "The Current Commercial Mortgage Market" for the MidAtlantic Real Estate Journal (formerly NJ/PA Real Estate Journal)-6/05-11/08- readership 30,000+.
• Write and publish the Pro-Gressive Mortgage/U.S.R.C. Annual Real Estate Research Report to a distribution list of over 1,000 real estate professionals.
• Wrote articles that have appeared in the N.Y. Times, The Appraisal Journal, The Real Estate Review (NYU), The Appraisal Review Journal and various other real estate publications.
• 2009-wrote three 7 hour "on line" continuing education courses for McKissock, Inc.,a national provider of on line education for real estate and appraisal licensees

Education

• Temple University, Philadelphia, PA - 2 + years coursework towards Bachelor's degree in Accounting
• 7 Appraisal and Real Estate Courses given by the Appraisal Institute and by the Philadelphia Board of Realtors - 280+ hours.
• 1993-Present: 47+ Real Estate and Appraisal continuing education classes - 310+ hours
• IDEC Certified Distance Education Instructor. ID # 67470 - Currently Expires 7/30/12

Memberships, Affiliations, and Licenses

• Certified General Appraiser; State of CA # AG042741
• Certified General Appraiser: State of PA. #GA 000737-L
• Certified General Appraiser: State of N.J. #RG 001579
• Realtor's license, State of PA, retired license
• Mortgage Bankers Association (Pro-Gressive Mortgage/US Realty Capital) - current
• PA Council of Real Estate Appraisers, (Treasurer 2004 through 2006) - current.
• Philadelphia Chapter, Business Economists - current
• Wenonah, NJ Elementary School Board (4/00-8/01)
• American Legion, Arthur Holeton Post, Wenonah, NJ - current
• Volunteer, Special Olympics, NJ State Tennis Finals, Chair Umpire - 2001-2008