First Financial Network Signs Five-Year Agreement with FDIC
OKLAHOMA CITY, Jan. 24, 2013 /PRNewswire/ -- First Financial Network, Inc. (FFN), the nation's leading loan sale advisor, today announced it has signed another five-year agreement with the Federal Deposit Insurance Corporation (FDIC) to value, market and sell assets held in FDIC Receiverships. The announcement was made by Bliss Morris, Founder and CEO of FFN.
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 '90s 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.
In addition to loan sales, the company provides loan file imaging and indexing, loan valuation, due diligence and loan sale closing services on behalf of banks, agencies of the Federal government, special servicers, major foreign banks and other lenders.
During the past five years, FFN has executed more than 33 transactions for the FDIC totaling $13.6 billion and has imaged 428,198 documents containing over three million discrete pages, and indexed 1,534,450 documents containing over 12 million discrete pages to support those initiatives. According to Ms. Morris, "We've always enjoyed an excellent relationship with the FDIC, and we look forward to continuing this long partnership and facilitating the successful disposition of loans on their behalf."
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 loan file imaging and indexing, loan valuation, compliance reviews, due diligence and loan sale closing services to banks, agencies of the Federal government, major 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.firstfinancialnet.com.
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SOURCE First Financial Network