Kingston Management Services (KMS) is a full-service asset management company with the financial footing and marketplace experience to take full advantage of current market conditions plaguing the housing and mortgage industry as well as the financial US economy. Formed in 2008 as a single purpose entity, the KMS team was organized to serve as the managing entity of the ANB bank loan portfolio in partnership with the FDIC. It is perfectly positioned to satisfy the needs on any new portfolio acquisition.
KMS has offices and affiliates throughout North America and provides a full spectrum of financial management services from locations in Idaho, Colorado, Utah, Nevada, Arizona, Arkansas, Montana, California, Florida, Washington, Virginia and District of Columbia. KMS employs a wide range of financial professionals with experience in banking, loan management, note acquisitions, sales of both performing and non-performing loans, work-out of both performing and non-performing loans, note sales, short sales, modifications, guarantor deficiencies, judicial and non-judicial foreclosures, land development, entitlements, REO sales and marketing, and construction services, as well as property management for both commercial and residential properties. The special skill sets within KMS to assess project completion risks, cost overrun risks and market risks is paramount in optimizing cash collections from portfolio prosecutions. The key is balancing asset realizations with cash flow velocity.
KMS was initially formed through combining the infrastructure, experience and expertise of Kingston Properties, LP (Kingston) of Idaho Falls, Idaho. This partnership allows KMS to bring a unique blend of skills, infrastructure, and experience that will be key to optimizing cash collections. Kingston has a long-standing track record in managing loans associated with real estate, and holds a diverse portfolio of industrial, commercial, and residential real estate notes and projects. A sampling of asset management plans can be provided on request. A review of those plans demonstrates KMS's ability and agility to optimize the value of its respective portfolio in spite of the current troubled real estate market.
Beyond our experience, financing footing and business model, the management team at KMS and resources of Kingston Companies is committed to helping good people with good credit keep their properties in good standing. With an enviable pedigree of experience and more than 50 sister companies working in concert with KMS, KMS has the wherewithal and industry savvy to create a successful transition and prosecution of a loan portfolio.
KMS business model, combined with specific market familiarity and involvement, created the exceptional returns in prosecuting the ANB loan portfolio. KMS was the first group to successfully bid on a structured purchase venture with the FDIC. Our bid price was by far the lowest and we are achieving some of the highest realization rates of any servicer. Consider, in 9 months, we settled 20% of portfolio (300 loans), returned 100% of original investment to investors while achieving an industry-high 47% average realization.
KMS's primary officers are:
David O. Kingston, Chairman
Brandon Snyder, COO
David V. Walker, CPA, CFO
KMS's headquarters and satellite office's are as follows:
| KMS Main Office:
||477 Shoup Ave, Suite 207
Idaho Falls, Idaho 83402
| KMS Utah Office: