Sales Demonstrates Strength of FFN’s Proprietary Online Platform Enabling Remote Valuations, Virtual Bidding and Closing During Pandemic
Oklahoma City, Oklahoma – June 11, 2020 – First Financial Network, Inc. (FFN), a leading international loan sale advisor, has announced the successful sale of performing and non-performing loans totaling $112 million on behalf of several financial institutions and funds. The assets sold included predominantly commercial real estate loans (office, industrial, retail, mixed-use, and multifamily) as well as C&I business assets. These loan sales further demonstrate the strength of FFN’s industry-leading online platform during one of the most challenging times the world has faced.
The loans were sold following an online due diligence and bidding process conducted by FFN on its secure Loan Sale Network™ platform starting March 10, 2020, on behalf of eight clients made up of money center banks, community banks, and funds.
Bliss Morris, Founder and CEO of FFN, said, “Over the past three months the world at large has been challenged by the devastating pandemic. We were able to utilize our proven online platform to continue to serve our clients and close loan sales that have in turn helped them hedge future risk. Despite the difficult times, the loan sales market has remained active, giving a clear indication that buyers are actively pursuing good investment opportunities.”
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 over 30 countries. The company provides loan valuation, loan sales and trade support services to banks, agencies of the U.S. Federal government, banks and other lenders. The company’s online Loan Sale Network™ platform and FirstValue™, a market-driven loan valuation model, are used in conjunction with exceptional due diligence and marketing techniques to achieve optimal value in today’s international loan sale market. For further information, call 405.748.4100 or visit www.ffncorp.com
Contact:
Great Ink Communications: 212-741-2977
Jimmy Lappas – jimmy.lappas@greatink.com
Roxanne Donovan – roxanne@greatink.com
Francisco Miranda – francisco@greatink.com