FirstCity Financial Snapshot
FirstCity Financial helps loans deal with performance issues. Through operating subsidiaries, the company buys, manages, and sells primarily nonperfoming loans from financial institutions, government agencies, and other lenders. It typically buys nonperforming loans at a deep discount but purchases performing loans, as well. The company or one of its affiliates services the loans it acquires. FirstCity Financial manages a portfolio worth approximately $11 billion. In addition to buying loans, the company invests in special situations such as restructurings, turnarounds, and executive buyouts through its majority-owned FirstCity Denver subsidiary.