It is offering on behalf of a community bank a $200 million performing and nonperforming loan portfolio that includes a mix of commercial real estate, commercial and industrial, agricultural, residential and consumer loans.
Due diligence for this portfolio starts Aug. 19 with bids due Sept. 17.
FFN said a money center bank also appointed it to market a separate $35 million portfolio of performing and nonperforming loans concentrated in California, New York, and New Jersey.
“A major portion of the portfolio contains current loans and may be of particular interest to banking institutions,” FFN said.
Investor due diligence for this portfolio has begun and bids are due by Aug. 29.
"Over the past two quarters there has been a sharp increase in pricing across all asset classes coupled with a need for community banks to clean up their balance sheets,” Bliss Morris, founder and CEO of FFN, said in a press release. “We have been very busy serving this client segment in the valuation and marketing of both performing and nonperforming loans. Clearly, it's a good time to sell."
