The enactment of Dodd-Frank and Basel III could lead to "a lot of the banks getting rid of a lot of their bad assets, which will create even more distressed opportunities," particularly in real estate, predicts Scott Victor, managing director at SSG Capital Advisors LLC. Referring to amend and extend, he says that the time has come where "banks are strong enough to absorb the losses that they're going to take on a lot of these loans." "Amend and pretend," quips Victor, will continue in the lower and middle market "to some degree, but not as much as it was" over the past few years. - Katie Roof