As part of analyzing a problem loan, a banker will complete all of the following steps EXCEPT:

In the context of analyzing a problem loan, hiring a turnaround consultant is typically not a standard step that a banker would take. While turnaround consultants can provide valuable insights and strategic guidance for a troubled business, their involvement usually comes later in the recovery process and often at the discretion of the business itself or its management rather than the lender.

The other steps mentioned are essential components of a robust analysis of a problem loan. Completing a new lien search helps the banker confirm the current status of liens against the borrower’s assets, ensuring that there are no overlooked claims. Performing an updated financial analysis is crucial for understanding the financial position of the borrower, which helps the banker assess risk and potential recovery options. Ordering an updated appraisal on collateral allows the banker to determine the current value of any secured assets, which is vital for deciding how to proceed with the loan and whether collateral can be liquidated if necessary.

Thus, among the options, hiring a turnaround consultant stands out as less relevant to the initial analytical process of a problem loan.