$100 Million Performing and Non-Performing Loan Portfolio Offered for Sale
OKLAHOMA CITY, Sept. 30, 2013 /PRNewswire/ — First Financial Network, Inc. (FFN), the national's leading loan sales advisor, has pioneered a powerful new tool for sellers of loan portfolios of all sizes. Sellers of these loans can now upload loan data and documents to FFN's secure site at no cost as part of their new Loan Sale Event platform; taking advantage of FFN's proven framework that has allowed the firm to sell billions of loans for over 25 years. The announcement of this new service was made by Bliss Morris, founder and CEO of FFN.
The Loan Sale Event allows sellers to limit their transaction risk and maximize the value of all types of loans," said Ms. Morris. "Since founding FFN more than two decades ago, we have always looked for new ways to better serve both sellers and buyers in the loan sales industry. Community banks can now get the same type of exposure for their loan sales traditionally only available to large institutions selling substantial portfolios."
FFN will utilize its industry-leading technology and legal framework to aggregate loans chosen from multiple sellers into one event and then market it to a list of over 10,000 vetted loan buyers in a two-phase loan process, which will be conducted quarterly. This secure process provides banks with maximum exposure and allows them to see the true market value of their loans.
FFN has scheduled its first quarterly loan sale event containing $100 million in various commercial real estate, residential and consumer loans. Finals bids are due October 22, 2013 and investor due diligence is currently underway.
For more than two decades, FFN has set the benchmark in the loan sale advisory industry, selling billions of dollars in loans and other assets around the world. The firm pioneered bulk loan sales during the savings and loan crisis in the early 1990s to sell loans of all sizes and collateral types. Today, FFN utilizes its online Loan Sale Network™ platform to provide immediate access to due diligence information and the opportunity to bid on loans to qualified investors.
About First Financial Network
Since its founding in 1989, FFN has defined the loan sale industry, selling billions of dollars in loans and other assets in 28 countries. In addition to loan sales, the company provides data normalization, loan file imaging and indexing, loan valuation, compliance reviews and due diligence services to banks, agencies of the Federal government, foreign banks and other lenders. The company's online Loan Sale Network™ platform and Metrics, an integrated due diligence analytics system, are used in conjunction with exceptional marketing techniques to achieve optimal value in today's secondary market. For further information, call 405.748.4100 or visit www.ffmcorp.com.
Contact:
Great Ink Communications – 212‐741‐2977
Jimmy Lappas – Email
Alyson Leiter – Email
First Financial Network, Inc.
Merrie Duncan – 800‐245‐8695 – Email