First Financial Network Announces $153 Million Residential Loan Sale
OKLAHOMA CITY, Oct. 15, 2015 /PRNewswire/ -- First Financial Network, Inc., the nation's leading loan sale advisor, announced the offering of $153 million in residential real estate and unsecured loans on behalf of a community bank.
The loans are being offered in pools based on performance and collateral type. The portfolio contains approximately 1,568 loans and 58% of the loans are classified as performing. Collateral properties are located predominantly in Illinois. Weighted Average Coupon of the portfolio is 5.60%.
Due diligence materials will be made available to qualified bidders at www.ffncorp.com beginning October 14, 2015 and bids are due on November 10, 2015 at 12:00 pm CT.
According to Bliss Morris, CEO of First Financial Network, "Given both the rising market demand and size of the portfolio, FFN expects strong investor interest and active bidding for this residential loan portfolio. We look forward to a favorable resolution of the portfolio on behalf of our long-term community banking client."
For additional details regarding the offering, please call 405.748.4100 or visit www.ffncorp.com.
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. The company provides loan valuation, compliance reviews and due diligence services to banks, agencies of the Federal government, major foreign banks and other lenders. The company's online Loan Sale Network™ platform is used in conjunction with exceptional marketing techniques to achieve optimal value in today's loan sale market. For further information, call 405.748.4100 or visit www.ffncorp.com.
Contact:
Merrie Duncan: 405-748-4100 or email
SOURCE First Financial Network, Inc.
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