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Structured Loan Sales
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Listed below are data on FDIC receivership asset sales using
private/public partnership structures. These structures, in which a
private firm acquires the rights to certain future cash flows and
assumes asset management and servicing obligations, allow the FDIC as
receiver to draw on the asset management expertise of the private sector
while retaining for the receivership a participation interest in all
future cash flows generated by the workout of the assets over time.
Certain future expenses and all income of the private/public partnership
entity will be shared on the percentage ownership to the purchaser and
the FDIC receivership
For more information, please see the FDIC Receivership Public/Private
Partnership Transaction Fact Sheet
For a complete list of documents,
click on Sale ID
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Sale ID |
Site Name |
Date Sold |
Loan Type |
Quality |
No. of Loans |
Book Value |
Interest Sold |
Sales Price |
Winning Bidder |
Address |
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1 |
MSMC VENTURE LLC |
WDC |
5/6/08 |
SF Construction & Lot Loans |
Sub-Performing & Nonperforming |
733 |
$145,639,886 |
$58,255,954 |
$19,107,000 |
Gulf Coast Bank & Trust |
c/o Gulf National One, LLC 200 St. Charles St., New Orleans, LA 70130 |
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2 |
FNBN I LLC |
WDC |
12/29/08 |
SFR |
Sub-Performing & Nonperforming |
2,829 |
$560,526,522 |
$112,105,304 |
$43,237,216 |
PennyMac |
PNMAC Mortgage Co., 27001 Agoura Rd, Ste 350, Calabasas, CA 91301 |
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3 |
ANB VENTURE LLC |
WDC |
1/12/09 |
ADC |
Sub-Performing & Nonperforming |
1,112 |
$1,120,293,613 |
$224,058,723 |
$20,196,000 |
Kingston Management Services |
c/o KMS SPE, LLC, 477 Shoup Ave., Ste. 207, Idaho Falls, ID 83402 |
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4 |
FNBN RESCON I LLC |
WDC |
2/5/09 |
Res. Constr |
Sub-Performing & Nonperforming |
520 |
$732,663,625 |
$146,532,725 |
$32,208,000 |
Stearns Bank |
FNBN RESCON I LLC, 4191 2nd Street South, St. Cloud, MN 56301 |
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5 |
FNBN CMLCON I LLC |
WDC |
2/20/09 |
Comml Constr |
Sub-Performing & Nonperforming |
147 |
$701,558,491 |
$140,311,698 |
$41,000,468 |
Diversified Business Strategies |
SGH FNB Ventures, LLC, c/o Sorenson Group Management, LLC, 4393 Riverboat Rd, Ste 450, Salt Lake City, UT 84123 |
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