TESSA

Tessa is willing to be held accountable for the performance of the portfolios that it oversees. Tessa works with bank employees to design more effective resolution methods that comply with the terms of the loss-share agreement. Optimal programs rely on regulatory, workout, legal, accounting, and marketing knowledge that can only be developed by working at the FDIC or firsthand experience managing loss-share assets across multiple platforms... Tessa is led by a team of executives from the FDIC, JP Morgan, Bank Of America, and Deloitte with experience in FDIC loss-share compliance, loan workout, mergers and acquisitions, and real estate finance... Tessa has developed a proprietary management tool to track expected collections and out-of-pocket expenses. This tool gives bank management visibility into loans that are behind schedule and provides a least-cost framework. This tool also allows Tessa to accurately predict changes to the indemnification asset and ensures that the loss-share..