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2010
02-22-2010
First Financial Offers $20.6Mln of Loans for Bank
Commercial Real Estate Direct Staff Report -
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01-19-2010
Outside of FDIC Loan Sales, Few Sales Completed in Secondary Market
CommercialRealEstateDirect.com - Orest Mandzy -
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01-12-2010
Speculation Turns to Fools Gold for Banks
Distressed Assets Investor - by Bliss A. Morris, Founder & CEO, First Financial Network, Inc. -
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2009
11-20-2009
First Financial Network Selling $190 Million Portfolio
Real Estate Finance & Investment -
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11-18-2009
First Financial Selling $190M Loan Portfolio
CoStar Group by Omar S. McKeithan -
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10-17-2009
Community Bank Loans to Be Auctioned Off
Las Vegas Review-Journal -
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10-16-2009
Price and Prejudice: Loan Sales Reveal All Asset Classes Not Equal in Value
Distressed Assets Investor - by Bliss A. Morris, Founder & CEO, First Financial Network, Inc. -
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10-15-2009
Distressed Debt Sales Likely to Soar
Commercial Property Executive - by Tonie Auer,Contributing Correspondent -
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10-14-2009
The ABA and First Financial Network Host Conference Call
The American Bankers Association (ABA) and First Financial Network, Inc., the nation's leading loan sale advisor, will be discussing FDIC failed bank auctions, during a free conference call on Thursday, October 15, 2009 from 2-3 p.m. ET. -
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10-13-2009
First Financial Offers $150Mln of FDIC Participations
CommercialRealEstateDirect.com -
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10-12-2009
First Financial Network, Inc. Announces $150 Million In Loan Participations
First Financial Network, Inc., the nation's leading loan sale advisor, announced today that it will sell $150 million in loan participations. -
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09-17-2009
First Financial Offers $40Mln of Performing Commercial Loans
CommercialRealEstateDirect.com - Staff Report -
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09-01-2009
Maximizing the Value of Distressed Assets - Déjà Vu?
Distressed Assets Investor - by Bliss A. Morris, Founder & CEO, First Financial Network, Inc. -
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08-14-2009
First Financial Network's Richard Harris to Discuss Design and Implementation of Virtual Disaster Recovery Environments at Fourth Annual Oklahoma IT Symposium
Richard Harris, Director of Information Technology for First Financial Network (FFN), the nation's leading full-service financial and loan sale advisor, will be one of the featured guest panelists at the Fourth Annual Oklahoma IT Symposium to be held at the Doubletree® Downtown Tulsa on August 27th. -
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07-28-2009
First Financial Network Announces $120 Million FDIC Loan Portfolio Offering
New Frontier Bank's C&I and Consumer Loans Up for Sale -
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07-23-2009
First Financial Readies For $455M Offering
GlobeSt.com -
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07-20-2009
First Financial Network Announces $455 Million FDIC Agricultural Loan Portfolio Offering
BNP - BankNews Publications -
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06-25-2009
First Financial Network, Inc. Announces $130 Million FDIC Credit Card Portfolio Offering
Silverton Credit Card Accounts Up for Sale -
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06-04-2009
Mark Hall Joins First Financial Network
First Financial Network (FFN), the nation's leading full-service financial and loan sale advisor, today announced the addition of Mark Hall to its talented team as Senior Financial Analyst. -
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04-13-2009
First Financial Network, Inc. Announces $292 Million Loan Portfolio Offering
Franklin Bank Loans Up for Sale -
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02-02-2009
First Financial Network, Inc. Announces $120 MILLION FDIC SBA Loan Portfolio Offering
Oklahoma City, OK-First Financial Network, Inc., the nation's leading loan sale advisor, today
announced the offering of a $120 million SBA loan portfolio. The portfolio is being marketed on
behalf of the Federal Deposit Insurance Corporation (FDIC) and includes loans from the recently
failed First National Bank of Nevada and First Heritage Bank, N.A., Silver State Bank and ANB
Bank for which the FDIC is acting as receiver. -
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01-28-2009
$602MM Loan Portfolios Come to Market
OKLAHOMA CITY, OK-The closing of several banks is leading First Financial Network to bring two loan portfolios totaling $602 million to market. Both portfolios are backed by mainly performing commercial and residential assets. -
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01-28-2009
First Financial Offers Loan Portfolios for FDIC
First Financial Network Inc. is launching marketing for a $485 million portfolio of mixed-quality loans and mortgages that were held by the now-defunct Silver State Bank of Henderson, Nev. -
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2008
11-14-2008
First Financial Offers $75Mln Loan Portfolio for Bank
First Financial Network Inc. has launched marketing for a $75 million portfolio of nonperforming commercial mortgages on behalf of a bank client. -
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11-13-2008
FIRST FINANCIAL NETWORK, INC. TO SELL $75 MILLION COMMERCIAL REAL ESTATE LOAN PORTFOLIO
Oklahoma City, OK - November 13, 2008 - First Financial Network, Inc., the nation's leading
loan sale advisor, today announced the offering of more than $75 million in non-performing
commercial real estate loans. The portfolio is being marketed on behalf of a U.S. banking
institution. -
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10-27-2008
First Financial Offers $175M FDIC Portfolio
Oklahoma City - based First Financial Network is handling the sale of a $175 million portfolio of commercial real estate loans from two failed banks on behalf of the Federal Deposit Insurance Corporation. The banks include Reno-based First National Bank and Newport Beach-based First Heritage Bank. -
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10-27-2008
First Financial Network, Inc. Announces $500 Million FDIC Loan Portfolio Offering
First Financial Network, Inc., the nation's leading loan sale advisor, today announced the offering of a $500 million loan portfolio. The portfolio is being marketed on behalf of the Federal Deposit Insurance Corporation (FDIC) and includes loans from the recently failed First National Bank of Nevada, Reno, Nevada and First Heritage Bank, N.A., Newport Beach, California for which the FDIC is acting as Receiver. Both banks were formerly owned by First National Bank Holding Company, Scottsdale, Arizona.
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09-15-2008
$360M IndyMac Loan Portfolio Goes to Market
PASADENA, CA - First Financial Network Inc. of Oklahoma City has started marketing a portfolio of nearly 300 performing loans totaling $360 million on behalf of Indymac Commercial Lending Corp., the commercial lending subsidiary of IndyMac Bank. Pasadena-based IndyMac was closed July 11 by the Office of Thrift Supervision, and the Federal Deposit Insurance Corp. was named conservator of IndyMac Bank at that time. -
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09-11-2008
FIRST FINANCIAL NETWORK, INC. ANNOUNCES $360 MILLION LOAN PORTFOLIO OFFERING
Oklahoma City, OK - First Financial Network, Inc., the nation's leading loan sale advisor, today
announced the offering of more than $360 million in performing commercial real estate loans.
The portfolio is being marketed on behalf of Indymac Commercial Lending Corporation (ICLC).
ICLC was a subsidiary of IndyMac Bank, F.S.B., Pasadena, CA, which was closed July 11, 2008
by the Office of Thrift Supervision. The Federal Deposit Insurance Corporation (FDIC) was
named conservator of IndyMac Bank, F.S.B. at that time. -
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09-08-2008
FIRST FINANCIAL NETWORK, INC. ANNOUNCES $190 MILLION LOAN PORTFOLIO OFFERING
First Financial Network, Inc., the nation's leading loan sale advisor,
announced the offering of a $190 million loan portfolio today. The portfolio is being marketed
on behalf of the Federal Deposit Insurance Corporation (FDIC) and includes loans from the
recently failed ANB Bank, Bentonville, AR for which the FDIC is acting as Receiver. -
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08-29-2008
FIRST FINANCIAL NETWORK, INC. ANNOUNCES $23 MILLION SBA LOAN PORTFOLIO OFFERING
First Financial Network, Inc., the nation's leading loan sale advisor,
announced the offering of a $23 million loan portfolio today. The portfolio is being marketed on
behalf of the Federal Deposit Insurance Corporation (FDIC) and is comprised of SBA related
loans from the recently failed ANB Bank, Bentonville, AR for which the FDIC is acting as
Receiver. -
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08-29-2008
First Financial Offers $75Mln Loan Portfolio for Bank
First Financial Network Inc. has launched marketing for a $75 million portfolio of non-performing commercial property loans.
The portfolio, offered on behalf of a bank, is comprised of some 200 loans that are backed by a broad mix of property types, including office, retail, residential, multifamily and land. Properties are scattered nearly across the country.
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08-26-2008
FIRST FINANCIAL NETWORK, INC. TO SELL $75 MILLION COMMERCIAL REAL ESTATE LOAN PORTFOLIO
First Financial Network, Inc., the nation's leading loan
sale advisor, today announced the offering of more than $75 million in non-performing
commercial real estate loans. The portfolio is being marketed on behalf of a U.S. banking
institution. -
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08-05-2008
FDIC Offers Failed Bank's Loans Through First Financial
FDIC has placed $145 million of loans from the failed ANB Bank of Bentonville, Ark., up for sale through its loan-sales adviser, First Financial Network Inc. -
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08-04-2008
FIRST FINANCIAL NETWORK, INC. ANNOUNCES $145 MILLION COMMERCIAL LOAN PORTFOLIO OFFERING
OKLAHOMA CITY, OK - First Financial Network, Inc., the nation's leading loan sale advisor, announced the offering of a $145 million loan portfolio today. The portfolio is being marketed on behalf of the Federal Deposit Insurance Corporation (FDIC) and includes loans from the recently failed ANB Bank, Bentonville, AR for which the FDIC is acting as receiver. -
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06-10-2008
First Financial Offers $80Mln of Performing Loans
First Financial Network Inc. has started marketing an $80 million portfolio of performing commercial loans on behalf of a national lender. -
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06-06-2008
$80M CRE Loan Portfolio Coming to Sales Block
OKLAHOMA CITY-A commercial loan portfolio, valued at $80 million, will hit the market in the coming weeks. The portfolio consists of 79 conventional and 504 Small Business Administration loans, all secured by commercial real estate throughout the country. -
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06-06-2008
FIRST FINANCIAL NETWORK, INC. TO SELL $80 MILLION PERFORMING COMMERCIAL REAL ESTATE LOAN PORTFOLIO
Oklahoma City, OK - June 4, 2008 - First Financial Network, Inc., the nation's leading loan sale
advisor, announced the offering of $80 million in performing commercial real estate loans today.
The portfolio is being marketed on behalf of a national commercial lender. -
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05-23-2008
FIRST FINANCIAL NETWORK, INC. TO SELL CREDIT CARD PORTFOLIO
OKLAHOMA CITY, OK - First Financial Network, Inc., (FFN), the nation's leading loan
sale advisor, today announced that it will market and manage the sale of approximately
12,000 active and inactive credit card accounts totaling approximately $12 million from failed
ANB Financial, National Association, Bentonville, AR, for which the FDIC is acting as
receiver. -
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05-22-2008
First Financial Selling $400M Loan Portfolio
MIAMI-First Financial Network Inc. is offering more than $400 million
in real estate loans tied to multifamily properties throughout the
Southeast, mostly in Florida. The advisory firm is marketing the
package on behalf of an unnamed lending institution. -
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05-05-2008
HOT SEAT
In exactly one month First Financial Network, a locally based loan sale advisor, will begin taking bids on a $400 million portfolio it is marketing on behalf of a bank. Consisting of 44 loans secured by real estate in Florida, Tennessee and North Carolina, the upcoming sale is a good example of lenders becoming more proactive in the face of an uncertain economic and industry environment, CEO Bliss Morris tells GlobeSt.com. "A great majority of these loans made perfect sense three years ago, but obviously a lot has changed," she says. Sellers, such as this particular bank, are finding it easier to step out of the bid process given the uncertainty in many markets, she says. Many investors, for their part, are finding these sales can provide excellent long-term investments. -
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05-01-2008
First Financial Selling $400M Loan Portfolio
MIAMI-First Financial Network Inc. is offering more than $400 million in real estate loans tied to multifamily properties throughout the Southeast, mostly in Florida. The advisory firm is marketing the package on behalf of an unnamed lending institution. -
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04-25-2008
FIRST FINANCIAL NETWORK, INC. TO SELL LOAN PORTFOLIO
First Financial Network, Inc., (FFN), the nation's leading loan sale advisor, is pleased to announce that it will market and manage the sale of approximately $6 million in loans from Hume Bank, for which the FDIC is acting as receiver. -
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03-27-2008
FIRST FINANCIAL NETWORK, INC. ANNOUNCES $135 MILLION COMMERCIAL LOAN PORTFOLIO
OKLAHOMA CITY, OK - First Financial Network, Inc., the nation's leading loan sale advisor, announced the offering of a $135 million commercial loan portfolio today. The portfolio is being marketed on behalf of a money center bank. Founded in 1989, First Financial Network is the most experienced U.S. loan sale advisory firm, having originally assisted the Resolution Trust Corporation with the disposition of billions in loans during the bailout of the S&L crisis. This experience bodes well as other financial institutions seek to mitigate risk as the economy cycles again into uncertain times. -
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03-18-2008
FIRST FINANCIAL NETWORK, INC. ANNOUNCES SUCCESSFUL CLOSING OF LOAN SALE ON BEHALF OF FDIC
OKLAHOMA CITY, OK - First Financial Network, Inc., (FFN) is pleased to announce that it has successfully closed the loan sale it conducted on behalf of the Federal Deposit Insurance Corporation (FDIC), as Receiver for Miami Valley Bank, Lakeview, Ohio.
FFN marketed and managed the sale of approximately $40 million in primarily residential loans, from Miami Valley Bank, for which the FDIC was acting as receiver. Assets were secured primarily by residential real estate located in Ohio, Michigan, Indiana and Florida.
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01-17-2008
First Financial Network, Inc. To Sell Loan Portfolio
First Financial Network, Inc., (FFN) is pleased to announce that it has been awarded a contract by the Federal Deposit Insurance Corporation (FDIC) for marketing of the loan portfolio of Miami Valley Bank, Lakeview, Ohio.
FFN will market and manage the sale of approximately $40 million in primarily residential loans, from the Miami Valley Bank, for which the FDIC is acting as receiver. Assets are secured primarily by residential real estate located in Ohio, Michigan, Indiana and Florida.
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01-09-2008
First Financial Network, Inc. Awarded Internet Marketing Services Contract by FDIC
First Financial Network, Inc., ("FFN") is pleased to announce that it has been awarded the Internet Marketing and Support Services contract by the Federal Deposit Insurance Corporation (FDIC) for marketing of FDIC assets in receivership. The five-year agreement includes providing online loan sale services to the FDIC with the primary objective of efficiently conducting its loan sale assignments and maximizing value obtained in the secondary market. -
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2007
12-14-2007
Lynda Terpstra Joins First Financial Network
First Financial Network (FFN), the nation's leading loan sale advisor, recently announced that Lynda Terpstra has joined the company as Due Diligence Manager. Ms. Terpstra will lead all investor due diligence activities and post-closing activities at FFN's national due diligence facility located in Oklahoma City.
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2006
09-05-2006
Dale Washa Joins First Financial Network
First Financial Network (FFN), the nation's leading loan sale advisor, recently announced that Dale Washa has joined the company as the Senior Underwriting Manager. -
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2005
10-13-2005
First Financial Offers $45Mln Portfolio of Commercial Loans
First Financial Network Inc., an Oklahoma City loan-sale adviser, has started marketing for sale a $45 million portfolio of commercial loans. -
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08-16-2005
First Financial Network Offers Loan-Sales Services to Smaller Lenders
First Financial Network, an Oklahoma City loan sales adviser, has started offering its loan-sales advisory services to small lending institutions.
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08-09-2005
Ron Burke Joins First Financial Network, Inc. (FFN)
One of the nation's leading loan sale advisors, First Financial Network, Inc. (FFN) announced today that Ron Burke, a financial services executive with over 15 years of experience, has joined the firm to oversee its U.S. business development efforts. -
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2004
11-14-2004
Smart Portfolio
Fifteen years ago while the country was still reeling from the bank and savings and loan crisis of the mid-Eighties, Bliss Morris saw an opportunity to help lenders and borrowers
alike.
In the wake of the Penn Square
Bank debacle, the young Federal
Deposit Insurance Corporation
employee was marketing loans from
insolvent lending institutions to
secondary buyers when she recognized
that the private sector could
offer more flexibility to all parties.
Today, Morris is president and
CEO of First Financial Network in
Oklahoma City, the oldest loan sale
advisor firm in the nation, and one
of just a handful of companies providing
such services.
Her clients include banks, government
agencies and other financial
institutions worldwide wishing
to diversify their loan portfolios. -
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10-03-2004
CEO, president made her niche in the marketplace
Bliss Morris helped the FDIC liquidate Penn Square Bank, but after working on that crisis found her niche with a unique financial venture.
Morris is the president and chief operating officer of First Financial Network, a company that serves as a loan advisor to banks, government agencies and other financial institutions looking to diversify their loan portfolio.
First Financial acts as a connection between sellers and buyers of loans. The company is one of only a handful that specialize in that field. The company recently worked with the Central Bank of Nicaragua managing the sale of millions of dollars worth of real estate, loans, art work and furniture. -
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09-27-2004
First Financial Launches Marketing for $60Mln Loan Portfolio
First Financial Network has launched marketing for a $60 million portfolio of commercial loans, many of which involve real estate collateral.
The portfolio is being marketed on behalf of Bank of America, which regularly taps the secondary loan market to fine-tune its balance sheet. First Financial, an Oklahoma City loan-sales adviser, regularly handles certain loan sales for the lender. -
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09-03-2004
First Financial Honored Among 2004 Metro 50 Businesses
First Financial Network Inc. ranked 3rd on this year's list of the metropolitan area's fastest growing, privately-owned companies. First Financial Network Inc. was recognized during the annual 2004 Metro 50 banquet Sept. 2 at the Cox Convention Center in downtown Oklahoma City. -
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09-03-2004
Metro 50 Top of the charts - 3 First Financial Network Inc.
After having been
involved in loan valuation
and sales, as well as
the initial development of
the secondary market,
Morris established First
Financial Network 15
years ago to fulfill a need
for asset disposition services
both with U.S. governmental
agencies and
banking institutions. -
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09-03-2004
Metro area's fastest-growing businesses receive recognition
The Oklahoma City metropolitan area's fastest-growing businesses were honored Thursday night at the annual Metro 50 banquet.
Sponsored by the Greater Oklahoma City Chamber of Commerce, Metro 50 recognizes privately owned companies that have demonstrated a marked gain in annual growth and who posted 2003 revenues of at least $1 million. -
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08-26-2004
First Financial Gearing Up Loan Offering
First Financial Network will soon be gearing up
a $75 million portfolio of loans for Bank of
America. -
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08-17-2004
Women In Business
A study by the Washington,
D.C.-based Center for
Women's Business Research
found that the majority of
women business owners sampled are
willing to take big financial risks.
However, an Oklahoma City businesswoman
attributes the more
than 300 percent growth her
company has experienced over
the last few years to the "slow
and steady" approach. -
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2003
10-16-2003
First Financial Opening Washington Office to Lure More Fed Work
First Financial Network, an active loan-sale advisor, is opening an office in Washington - an effort to more actively pursue sales assignments from various government agencies. -
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06-16-2003
Subasta de arte mejoró precios
Litografías, grabados, esculturas y acuarelas nicaragüenses fueron
bien valoradas en lo económico durante la primera subasta de arte nicaragüense,
organizada por la casa de Gallerías Louis C. Morton, contratada por
la First Financial Network. -
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06-13-2003
Subasta de arte sin problemas
La subasta de obras de arte, parte de los activos de los bancos quebrados,
se realizó anoche sin mayores incidentes, bajo la autorización
del Instituto Nicaragüense de Cultura (INC). En el evento realizado en
el Salón de los Cristales del Teatro Nacional Rubén Darío
(TNRD), participaron cerca de 350 oferentes, según First Financial Network,
firma norteamericana encargada de la liquidación de los activos de los
siete bancos estatales y privados que quebraron entre 1997 y 2001. -
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06-01-2003
Primera subasta de bienes muebles
Se realizó la subasta de 155 lotes de diferentes artículos que
quedaron producto de la quiebra de los bancos. Esta es la primera de tres subastas
de bienes muebles, organizada por el Banco Central de Nicaragua (BCN) y First
Financial Network (FFN), ésta última encargada de organizar la
actividad. -
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04-04-2003
U.S. Company Tapped to Sell Assets of Failed Nicaraguan Lenders
First Financial Network, an Oklahoma City company, has been hired by the Central Bank of Nicaragua to help it evaluate and dispose of some $400 million of assets from banks that have failed.
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04-01-2003
First Financial Network to Sell Major Nicaraguan Asset Portfolio
First Financial Network, Inc., ("FFN") is pleased to announce that it has been awarded the financial advisory services contract by the Banco Central de Nicaragua ("BCN") for marketing of a diverse portfolio comprised of assets from failed Nicaraguan banks. The contract includes valuation of the portfolio, which had an original book value of US$400 million, and recommendations regarding appropriate disposition strategies. FFN will then market and manage the sale of all assets, including loans, commercial and residential real estate, art and various kinds of equipment. The loan and real estate portfolios will be sold via a sealed bid process with a bid deadline of May 21, 2003. Investor Due Diligence will begin on April 21, 2003. -
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2002
11-04-2002
FDIC Starts Marketing $700Mln Portfolio of Bank Loans Via First Financial
MIAMI - The FDIC has hired First Financial Network Inc. to market for sale a portfolio of $700 million of loans that were on the books of Hamilton Bank of Miami. -
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09-24-2002
First Financial Offers Loan Portfolio, Eyes Valuation Business
First Financial Network will soon be taking offers for a $125 million of mixed-quality commercial and residential mortgages on behalf of one of its banking clients. -
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02-14-2002
In Brief: FDIC Hires First Financial for Hamilton Job
WASHINGTON - First Financial Network Inc. of Oklahoma City announced Tuesday that the Federal Deposit Insurance Corp. had hired it to help value the $1.3 billion international loan portfolio of the failed Hamilton Bank in Miami.
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02-13-2002
FDIC chooses First Financial Network to help liquidate Hamilton Bank portfolio.
The Federal Deposit Insurance Corp. has appointed First Financial Network, Inc., a specialist in loan sales, to help sell the $1.3 billion loan portfolio of the recently closed Hamilton Bank in Miami. -
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2001
12-20-2001
Small Business Admin To Hold Real-Time Online Loan Sale
NEW YORK -(Dow Jones)- Marking its first endeavor into real-time online auctioning, the U.S. Small Business Administration prepares to sell part of a $620 million loan package via an Internet-based open outcry auction on Jan. 15. -
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2000
01-09-2000
Latin American Collectors Look North
Collectors in Latin America are turning to the north to see if U.S. technology and techniques might work in their unique cultures. So far, much of it is, but it's not a simple translation. -
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1999
10-22-1999
Van 6 por Seguros Monterrey
COMO USTED SABE, el proceso de venta de Seguros Monterrey ya se encuentra en una segunda etapa. De 15 o 16 instituciones que se habrian interesado al arranque, unicamente quedan ya solo seis, de las cuales dos son mexicanas, esto es Comercial America, de Alfonso Romo y GNP, de Alberto Baillieres, dos mas europeos y el otro par estadounidenses. -
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10-22-1999
Ya Realizan
Ya realizan due diligence los seis finalistas por Seguros Monterrey; que estan AXA, Liberty y Travelers; oportunidad unica; Bancomer y su avance en seguros -
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1998
08-03-1998
Mexico Loan Sale
A $200 million portfolio of Mexican residential mortgages will be offered to investors early in the fourth quarter. -
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05-04-1998
Bank Offers Fla. Commercial Mortgages
First Union is marketing a portfolio of mixed-quality commercial mortgages in one of the year's few sizable bulk offerings of U.S. loans. -
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1997
07-07-1997
The Grapevine
First Union National Bank of Florida appears to be ready to market yet another portfolio of distressed assets. -
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03-24-1997
Top Advisers on Portfolio Offerings
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1996
11-25-1996
First Union Plans Another Bulk Offering
First Union National Bank of Florida is gearing up to market another large portfolio of mortgages that it inherited through bank acquisitions. -
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04-15-1996
The Grapevine: First Union National Bank of Florida
First Union National Bank of Florida has set a May 1 bid date for its $130 million offering of distressed commercial mortgages. Investors recently began their due diligence reviews of the portfolio, which contains performing and nonperforming loans secured by a mix of commercial properties. -
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02-05-1996
The Grapevine: First Union National Bank of Florida
First Union National Bank of Florida has set a May 1 bidding deadline for up to $230 million of mortgages and properties. The Jacksonville bank will offer $150 million to $200 million of commercial real estate assets and $30 million of residential loans. -
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1995
12-25-1995
Florida Bank to Offer Two Portfolios
A large Southeastern bank plans to market more than $200 million of commercial and residential mortgages in two offerings early next year. -
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12-06-1995
The End Is Near - RTC's Last Auctions
The End Is Near -- RTC's Last Auctions / Federal agency will close its doors at end of the year -
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08-02-1995
Between the Bricks Cooperative Housing
Cooperative housing's problems with the IRS are getting a boost from Sen. Daniel Patrick Moynihan and Rep. Charles Rangel. The two co-signed a letter late last month to the IRS asking that the tax issues be resolved soon, especially in light of the recent court decision in favor of the Trump Village III Mitchell-Lama, in which a low-equity building's interest income was ruled to be membership income for tax purposes. The IRS is seeking leave to appeal that ruling. -
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03-12-1995
Local Financial Firm Braces For Loss of RTC's Business
Breaking up is hard to do.
Bliss Morris is not looking forward to the end of her six-year relationship with the Resolution Trust Corp., but it is a day for which she has prepared.
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01-30-1995
Secured Capital Led Sales Advisers in '94
Secured Capital Corp. was the most-active adviser on the sale of real estate portfolios last year, capturing a whopping 24% of the marketing assignments, based on dollar value. -
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01-09-1995
The Grapevine
RTC has moved up the date of its next loan auction by one month, to May 10 -
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01-02-1995
RTC Auction Gets High Return on Performing SF Loans
Kansas City-The Resolution Trust Corp. sold $577 million in performing and nonperforming loans at its eighth and final national loan auction, recovering $404 million or 70 cents on the dollar. -
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1994
12-26-1994
RTC Adds Second Auction to 1995 Schedule
In a surprise move, RTC is planning a second outcry auction of small-balance loans next year in order to liquidate its remaining inventory. -
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10-04-1994
Bondtrac Releases Software Update
Bondtrac Inc., an Oklahoma City-based company which offers a computerized municipal bond offering system, has released a 2.2 version of its software, with more than 20 operating improvements. "This update is the result of listening to and acting on customer requests," said Jim Tappan, president. "The major improvements include reduced memory requirements, enhanced search ability, reorganized and easier-to-use menus and the ability to create and save any number of different spread matrices." -
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10-03-1994
Buyers Divvy Up Florida Pools
In a bidding contest with unusually stringent ground rules, First Union National Bank of Florida managed to unload $125 million of commercial mortgages to at least seven buyers. -
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08-15-1994
Florida Bank Shopping Commercial Loans
First Union National Bank of Florida is quietly marketing a $125 million portfolio of distressed commercial mortgages that it inherited in several acquisitions. -
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03-28-1994
Credit Union Loans Sold
Administration recovered $7.5 million, or just 17% of book value, from the sale of a $45 million portfolio of distressed residential and commercial loans. -
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02-16-1994
Unloading Bad Loans Provides Work for State Firms
The future looks good for companies in Oklahoma which have made a name for themselves across the country for helping financial institutions get rid of their subperforming loans and foreclosed assets. -
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02-07-1994
NCUA Opens Bidding on Big Loan Package
More than 300 potential buyers were solicited by NCUA over the past two weeks in its sale of $50 million worth of loans from failed credit unions. -
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02-07-1994
Credit Union Loans Peddled
The National Credit Union Administration is offering a $45 million assortment of performing and nonperforming mortgages. -
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01-17-1994
NCUA Moves to Empty Coffers of Asset Liquidation Center
Continuing a program started a year ago, NCUA will go to market at the end of the month with a large package of nonperforming loans obtained from liquidated credit unions. -
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1993
11-29-1993
The Grapevine
The first-quarter 1994 portfolio-sales calendar will be busier than some sellers had hoped. Chase Manhattan Corp., for instance, is waiting until next year to offer $400 million to $600 million of distressed assets - in an effort to capture the market's attention during a slow period. But it now looks like Secured Capital Corp. of Los Angeles is preparing first- quarter offerings for a pair of sellers. And CS First Boston is targeting the same period for a client's offering. -
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08-16-1993
New FDIC Advisers Offering Small Loans
FDIC has lined up six firms to help it sell $300 million in small-balance loans before yearend. -
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07-19-1993
Credit Union Loans Sold
National Credit Union Administration recovered $11.1 million, or 32% of book value, from its first sale of nonperforming loans and charge-offs.
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05-24-1993
edit Union Loans on the Block
The National Credit Union Administration is marketing the first of at least three portfolio offerings made up of nonperforming loans. -
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1992
10-26-1992
Dallas Auction Recovers 62% of Book
RTC's Dallas office raised $28.5 million, or 62% of book value, from the sale of nonperforming residential loans at an Oct. 15 outcry auction. -
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09-07-1992
Philly Event Offers Bad Loans
RTC's San Antonio office raised $6.2 million, or 34 cents on the dollar, in its second outcry auction of nonperforming loans. -
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08-24-1992
Loans Fetch 34% of Book
RTC's San Antonio office raised $6.2 million, or 34 cents on the dollar, in its second outcry auction of nonperforming loans. -
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08-10-1992
Third Auction for Team
First Financial Auction Network has once again been hired by RTC to sell a portfolio of nonperforming loans at an outcry auction. -
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07-29-1992
State RTC Office to Move Out of State This Week
By the end of this week, Oklahoma's sole office of the Resolution Trust Corp. will be history. -
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07-06-1992
Loan Auctioneer Hired
First Financial Auction Network of Oklahoma City has been hired by RTC's San Antonio office to auction off $19 million in nonperforming loans on Aug. 19. -
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