LOAN SALE SUMMARY - #NCUA-2017-2
$80,511,029 Residential Mortgage Loan Sale
PORTFOLIO SNAPSHOT
SALE SCHEDULE
Performance: Performing/Non-Performing
Sale Announcement:
3.2.17
Loan Count: 793
Due Diligence Begins:
3.13.17
Locations: Nationwide
Cut-Off Date:
3.31.17
Sale Structure: Single Round, Sealed Bid
Sale
Bid Date:
4.11.17
Closing Date:
4.26.17
Servicing Transfer:
5.24.17
On behalf of the National Credit Union Administration (NCUA or Seller), First Financial Network,
Inc. (FFN) is pleased to present loan sale #NCUA-2017-2, which is comprised of performing and
non-performing residential loans totaling $80,511,029 in current balance.
PORTFOLIO HIGHLIGHTS
•
The portfolio is stratified into nine pools for bidding based primarily on the servicer,
performance, collateral type and location of the collateral.
•
A comprehensive data tape will be available.
•
Investors may perform preliminary due diligence online and full file review will be
available on-site at the NCUA’s facilities in Austin, Texas.
•
The portfolio collateral is located nationwide, with concentrations in CA (29%); NV
(23%); OH (15%) and FL (10%).
•
89% of the loans are 1st liens.
•
80% of the collateral is comprised of residential mortgages.
•
The WAC is 4.82%.
To schedule an onsite due diligence
appointment, please contact
Cathey Taylor – [email protected] or
Kate Morris – [email protected] or at
405-748-4100.
CONTACTS
Merrie Duncan – [email protected]
Cathey Taylor – [email protected]
Brice Dancer – [email protected]
This advertisement is an announcement only and does not constitute an offer to sell, or a solicitation of an offer to buy, any loans or any interest
therein. Information concerning the loans will be furnished only to persons who demonstrate that they have a level of financial sophistication
and resources sufficient to evaluate and bear the risks of an investment in the loans. The loans, assets or portfolios may be offered "AS IS,"
“WHERE IS” and with all faults and limitations, and without any representations or warranties of any kind whatsoever by any entity.
2/22/17 v.2
Portfolio Stratifications
Performance
DPD
CURRENT
1-60 DPD
61-360 DPD
361-720 DPD
>61
Grand Total
CURRENT
BALANCE
$45,646,721.42
$9,216,932.94
$6,721,970.24
$1,634,123.36
$17,291,281.92
$80,511,029.88
CURRENT
BALANCE %
56.70%
11.45%
8.35%
2.03%
21.48%
100.00%
LOANS
CURRENT
BALANCE
CURRENT
BALANCE %
132
156
140
95
21
33
51
20
58
14
26
3
1
12
2
3
6
6
5
3
2
2
1
1
793
$23,369,274.12
$18,873,401.09
$11,881,303.58
$7,876,956.48
$3,704,890.81
$2,439,311.47
$2,311,161.79
$2,044,435.91
$1,749,042.53
$1,569,656.75
$1,416,505.38
$648,716.25
$570,401.71
$550,741.52
$337,416.03
$301,024.58
$215,031.17
$207,880.17
$145,447.45
$107,907.03
$106,635.60
$41,172.97
$28,639.25
$14,076.24
$80,511,029.88
29.03%
23.44%
14.76%
9.78%
4.60%
3.03%
2.87%
2.54%
2.17%
1.95%
1.76%
0.81%
0.71%
0.68%
0.42%
0.37%
0.27%
0.26%
0.18%
0.13%
0.13%
0.05%
0.04%
0.02%
100.00%
CURRENT
BALANCE
$136,814.42
$10,732,726.14
$5,718,869.32
$63,922,620.00
$80,511,029.88
CURRENT
BALANCE %
0.17%
13.33%
7.10%
80.00%
100.00%
LOANS
400
107
50
20
216
793
Collateral Locations
STATES
CA
NV
OH
FL
WI
VA
MI
CO
PA
NJ
MN
AZ
VT
IA
NC
IN
TX
KY
UT
NM
MD
NY
MA
Grand Total
Collateral Types
COLLATERAL
CONTRACT FOR DEED
HOME EQUITY
LOANS TO FACILITATE
RESIDENTIAL MORTGAGE
Grand Total
LOANS
4
257
77
455
793
SALE STRUCTURE
Summary due diligence information will be made
available on FFN’s website and will include loan
data
and
loan
documentation
for
a
representative sample of the portfolio. Hard copy
file review will be made available to qualified
bidders at NCUA’s offices in Austin, Texas.
FFN has been engaged as the exclusive loan sale
advisor to the Seller for the sale of the portfolio
of performing and non-performing residential
loans (the “Portfolio”, “Loans” or “Assets”). On
behalf of the Seller, FFN will manage a single
round sealed bid process for the potential
purchase of a single pool, a combination of
pools, or the entire Portfolio. All bids will be
submitted
on
FFN’s
website
at
www.ffncorp.com. The due diligence process
will be directed by Seller through FFN, and will
consist of both on-site and online due diligence
for prospective investors. Through FFN, the
Seller will provide the terms and conditions, loan
sale agreement and other legal sale documents
for review by prospective investors prior to the
bid date.
In order to perform due diligence on the Portfolio,
each prospective investor must sign and agree
to the terms of the investor confidentiality
agreement online at www.ffncorp.com. Due
diligence access will be provided to prospective
investors in FFN’s and the Seller’s sole and
absolute discretion, and may be changed or
removed for any reason. The Seller, in
conjunction with FFN, has prepared due
diligence materials, which may include loan data,
loan documents, pay histories and other
materials. Access to the due diligence materials
is subject to the agreed upon confidentiality
agreement and terms and conditions of sale. All
prospective investors are hereby advised that
the information and documentation which may
be missing or may have been removed from any
particular loan file may include significant
material information which, if made known to any
Bidder, could have a direct impact upon
perceived, apparent or actual: (i) value; (ii) merits;
(iii) risks; and/or (iv) hazards inherent with respect
to the Loans or either of them.
The Seller reserves the express right to add or
withdraw any loans from this sale at any time and
to accept or reject in its sole and absolute
discretion any and all bids. Seller also reserves
the absolute right, in its sole discretion, to
postpone or cancel the sale of the Loans at any
time.
The order and method by which the online bids
will be reviewed shall be determined by Seller
and FFN. All bids will be recorded by FFN and
such information will be provided to the Seller.
All inquiries should be directed through FFN.
Neither the Seller, any borrower, borrower
affiliates or guarantors are to be contacted.
Prospective investors must strictly adhere to the
terms of the Confidentiality Agreement at all
times.
SELLER
AND
FFN
MAKE
NO
REPRESENTATIONS
OR
WARRANTIES,
EXPRESS OR IMPLIED, OF ANY TYPE, KIND,
CHARACTER OR NATURE WHATSOEVER,
SPECIFICALLY INCLUDING WARRANTIES OF
FITNESS FOR A PARTICULAR PURPOSE
AND MERCHANTABILITY, with respect to the
accuracy or completeness of such information or
in any particular loan file, including but not limited
to the validity or priority of any liens and the value
of any collateral, and that nothing contained in
such information should be construed by a
prospective investor as assuring the collection of
any loans.
This offering is intended for financial institutions,
institutional purchasers or other sophisticated
entities which are in the business of buying,
originating or selling loans or which otherwise
deal in such instruments in the ordinary course
of its business, or is otherwise an accredited
purchaser capable of evaluating the merits and
risks relating to the purchase of the loans, and is
capable of making an informed bid and/or
purchase in connection therewith. The loans may
require advances, and the underlying borrowers
of the loans may have limited or no liquidity. By
making a bid of any kind, prospective bidders
represent and warrant to Seller and FFN that it
has the financial capacity to hold the loans for an
indefinite period of time and to bear the
economic risks associated therewith.