PORTFOLIO DUE DILIGENCE & VALUATION
Client’s Name: The Federal Deposit Insurance Corporation (FDIC)
Period of Performance: May 1998 - 2000
Description of Services Provided: The National Sales Center and the Western Service Center of the FDIC conducted a sales initiative of approximately 9,000 assets in two phases. Known as “Sale ‘98”, the scope of services included the analysis, valuation and sales structuring for three asset groups: 1,393 mortgage loans ($34.5 million); 7,831 servicing rights assets ($783 million); and 91 Mortgage Backed Securities transactions ($789 million). Signet performed both financial advisory and due diligence tasks in the Forward Loan Sale, collapse of Real Estate Mortgage Investment Conduit (REMIC) Trust Structures and completion of Servicing Rights Sales. Signet was instrumental in acting as the Transaction Financial Advisor to the Program Sales Advisor. Signet’s specific securities understanding and valuation knowledge was utilized in the documentation, analysis, and disposition strategies for these complex assets. For example, we discovered and ultimately facilitated the recovery of over $4 million from one REMIC security alone. Signet completed due diligence on these assets, valuing all securities, analyzing derived income, identified ownership interest, analyzed tax liability consequences, and recommended stratification and pooling scenarios. Our Due Diligence efforts included reconstruction of asset files, missing document research, field inspections, investor market assessment, retrieval of critical asset information from scattered locations and tracing of ownership and title conveyance.
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Signet Partners
7400 E. Crestline Circle
Suite 150
Greenwood Village, CO 80111
Phone: 303.773.3330
Toll Free: 888.901.3330
Fax: 303.773.6256
Email: info@signetpartners.com
