News

While the picture is brightening, we’re still not out of the woods when it comes to troubled assets, Bliss Morris, founder and CEO of First Financial Network.

Benefiting American Red Cross

Interview with Carl Gaines

Tougher regulators, FDIC loss-share phase-outs and a healthier economy are boosting bank sales of troubled small-balance loans, said panelists at a real estate workouts conference this month.

GlobeSt.com caught up with Bliss Morris, FFN's founder and CEO to ask her what the loan sales industry might look like in the coming year.

Loan sale adviser First Financial Network is marketing $85 million in loans—including commercial real estate, industrial and residential—for the Federal Deposit Insurance Corp. The loans were previously held by Berwyn, Penn.-based NOVA Bank, which was shut down by the Pennsylvania Department of Banking on October 26, 2012.

First Financial Network Inc., whose contract to sell loans on behalf of the FDIC was recently extended for another five years, has been tapped to offer $85 million of mixed-quality loans that the agency assumed from the failed Nova Bank in Berwyn, Pa.

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.