SilverLeaf Financial Sets New Record in First Quarter 2010

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Apr 28, 2010, 08:25 ET

SALT LAKE CITY, April 28 /PRNewswire/ -- SilverLeaf Financial (http://SilverLeaf-Financial.com) just closed its most active quarter since their inception in 2008 - announcing the acquisition of seven non-performing loans, equaling a total unpaid principal balance of just over $51 million dollars. The loans are diversely located across the country in the states of Utah, Oregon, Wisconsin, North Carolina and Florida. This makes the first quarter of 2010 SilverLeaf's most active quarter to date. SilverLeaf is currently in workout negotiations with the borrowers on these assets.

SilverLeaf Financial continues to focus its efforts on buying non-performing loans secured by cash flowing commercial real estate including retail, office, industrial/flex, multi-family, storage, regional malls, hospitality and land across the country. To date, SilverLeaf has acquired 45 loans equaling over $166 million dollars of unpaid face value. SilverLeaf Financial remains an active buyer in the market, and seeks to continue outperforming their quarter over quarter production from 2009. SilverLeaf Financial is well on its way to becoming a leader in the distressed debt business by maintaining a constant flow of loan acquisitions from the FDIC, national and regional banks, and special servicers.

SilverLeaf is also pleased to announce Mark Staples as the new President of SilverLeaf Financial. Staples' primary focus will center on coordinating SilverLeaf's efforts to manage assets in conjunction with Watchmen Asset Management and to oversee the day-to-day operation of the company. One of SilverLeaf's Principals, Ross Baldwin, says, "Mark brings with him a wealth of knowledge and experience. We are very fortunate to have him in this new role."

SilverLeaf Financial will be represented again this year at IMN's "11th Annual U.S. Real Estate and Opportunity & Private Fund Investing Forum" in New York, NY, June 3rd and 4th. CEO Shane Baldwin will be speaking on two of the panels, discussing the acquisition of non-performing loans in today's market.

SilverLeaf Financial continues to advance its primary goal of purchasing non-performing loans at a discount. The company remains focused on the underlying collateral and the cash flow it produces. SilverLeaf Financial also pays special attention to the borrowers that have guaranteed the loan, and their ability to perform at some discounted number from face. They have been very successful in negotiating workouts with their borrowers. To date, SilverLeaf has only foreclosed on four assets. Maintaining good relationships with its borrowers is a key objective for the company. SilverLeaf's first and preferred option is working with borrowers to forbear foreclosure and create a win/win situation for both the borrower and SilverLeaf. CEO Shane Baldwin says, "We want our borrowers to feel like the best thing that ever happened to them was SilverLeaf Financial buying their loan."

About SilverLeaf Financial

Headquartered in Salt Lake City, Utah, SilverLeaf Financial is a private equity firm that focuses on purchasing pools of performing and non-performing, 1st deed of trust loan pools from the FDIC and other financial institutions for the purpose of prompt monetization. For more information, visit SilverLeaf Financial's website: http://www.SilverLeaf-Financial.com.