Guest: Craig Page

Your portfolio is clean now, and “everyone is paying.” Good loans sometimes go bad, and it will undoubtedly happen to your portfolio at some point. Craig and Mark talk about the history lessons of the Great Recession and how to tackle your portfolio in the future when bumps in the road happen.


  • [02:58] Craig shares his background and history working in the financial industry.
  • [04:57] Craig reflects on the recession when they had many coastal properties and being aware of the warning signs.
  • [07:03] During the recession, there was a lack of awareness that the market wouldn’t bounce back in a few months.
  • [11:02] Many people feel that real estate only goes up, and Craig also points out that commercial property still has many vacancies.
  • [15:12] Craig shares his feelings on commercial real estate, and his biggest concern is office space.
  • [17:47] The red flags of not paying property taxes and deferred maintenance.
  • [21:07] Craig explains how he would approach delinquency with a commercial property.


  • During the recession, borrowers were unwilling to admit they were having problems. When visiting with a borrower about a delinquency, make sure you know the laws governing the situation.
  • Lenders must be proactive in annual reviews to ensure all is well with their properties and borrowers.
  • Three red flags that a property owner may be in trouble are them not paying their property taxes, property insurance and deferred maintenance.


Mark Ritter – Website

CrossStates – Website

Mark Ritter – LinkedIn

Craig Page – LinkedIn


Craig Page is the Chief Revenue Officer at MBFS. After a long career as the CEO of two business lending CUSOs, Craig joined MBFS to lead the national loan originations at the CUSO, along with helping guide the strategic direction of the organization.

Mark Ritter is the CEO of MBFS and an expert in credit unions and business lending. His primary role at MBFS is overseeing the strategy of helping credit unions assist members with business needs and consulting with credit unions on planning the delivery of services to their membership.