BankXchange Closes $16.2 Million Commercial Mortgage Portfolio Sale.Business Editors/High-Tech Writers SAN FRANCISCO--(BUSINESS WIRE)--May 1, 2003 Bridger Bridg·er , James 1804-1881. American frontiersman and fur trader famous for his tall tales. Commercial Funding announced today that it has closed a $16.2 million loan portfolio sale through its BankXchange(TM) program. This latest portfolio, sold on behalf of a commercial bank, consisted of six loans secured by a group of multifamily properties in Seattle Seattle (sēăt`əl), city (1990 pop. 516,259), seat of King co., W Wash., built on seven hills, between Elliott Bay of Puget Sound and Lake Washington; inc. 1869. , Wash. The selling bank faced a relationship cap, and used the loan sale to create new lending capacity to a key customer. "Our client had committed to fund five new loans to its borrower by a certain date, giving BankXchange an abbreviated 14-day marketing period to execute this assignment," said Paul Paul, 1901–64, king of the Hellenes (1947–64), brother and successor of George II. He married (1938) Princess Frederika of Brunswick. During Paul's reign Greece followed a pro-Western policy, and the Cyprus question was temporarily resolved. O'Rear, senior vice president of Bridger. "We met the seller's challenge and, most importantly Adv. 1. most importantly - above and beyond all other consideration; "above all, you must be independent" above all, most especially , we assisted our client in overcoming its loans-to-one-borrower limit and preserving its customer relationship. Otherwise," O'Rear observed, "the seller would have faced losing the new credit facility to a competitor." BankXchange(TM) matches qualified commercial mortgage buyers and sellers among banks throughout the country. It expedites loan sales by combining its online loan analytics ("BX LoanAnalyzer(TM)") with personalized marketing Personalized marketing (also called personalization, and sometimes called one-to-one marketing) is an extreme form of product differentiation. Whereas product differentiation tries to differentiate a product from competing ones, personalization tries to make a unique product through its nationwide sales force that maintains relationships with over 1,200 commercial banks. For more information, contact Paul O'Rear at 415/289-3239 or porear@bridgerfunding.com. Bridger Commercial Funding (www.BridgerFunding.com) is the banking industry's gateway to the commercial real estate capital markets, providing liquidity to over 1,200 banks nationwide. Bridger gives banks ready access to the secondary mortgage market as a balance sheet management strategy that efficiently reallocates risk. Through the company's CMBS CMBS See: Commercial Mortgage Backed Securities loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. program, banks boost financial performance by generating substantial fee income while retaining and enhancing borrower relationships. In addition, Bridger's BankXchange(TM) platform optimizes banks' loan portfolio risk profiles and returns by facilitating purchases and sales of loan portfolios, whole loans and participations. |
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