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L O A N P U R C H A S E S
NCV purchases and collects all types of loans, both
performing and nonperforming, and also previously charged
off loans, for its own portfolio. NCV has purchased assets
from numerous financial institutions, such as Bank of
America, Wells Fargo/Wachovia, Key Bank, and US Bank, along
with the FDIC and SBA. These assets consist of commercial
and consumer loans, secured and unsecured, real estate, raw
land, business assets and judgments.
The
majority of NCV’s loans have been problem loans in various
stages of delinquency, typically non/sub-performing. If an
institution has already written assets down or charged them
off their books, NCV can provide them with an opportunity to
quickly recover dollars to their loan loss reserves, thereby
reducing the monthly expense provision for loan losses. NCV
will purchase loans outright for cash and without further
obligation from the institution. These funds can then be
reinvested into other earning assets. This also eliminates
the risk and the costs associated with collection such as
legal fees, overhead, insurance, and bankruptcy filings,
which prolong the holding period and collection efforts.
NCV
understands that some of these loans originate from
borrowers who may continue to be customers of the selling
institution. We also understand the importance to these
institutions of possibly continuing to maintain a
relationship with the customer. Our track record over the
years has demonstrated our ability to handle their present
and former customers in a highly professional manner.
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