First Financial Network Inc. launched its customized Loan Sale Network, which was developed to help financial institutions and investors in marketing and acquiring large portfolios or individual loans.
What we see is the elimination of the large overhead of real estate and real estate related loans that were in those institutions… those assets are back in the hands of the private sector where they belong."
First Financial Network Inc. has opened up shop in Manhattan, putting it physically closer to conduit lenders and their service providers, many of which are increasing their use of the secondary loan-sales market.
First Financial Network has launched marketing for a $22 million portfolio of mixed-quality commercial real estate and business loans on behalf of a bank client.