Soft Private Money Loans Half of FCIs Portfolio
February 22, 2013
FCI Lender Services ended December with $2.3 billion of private money loans in its servicing portfolio, a 27 percent gain from the same period a year earlier. The nations largest private money servicer said it is seeing an increase in contracts and growth in soft money loans backed by residential real estate. Gordon Albrecht, chief strategy officer at FCI, said soft money loans currently account for 50 percent of the firms business, which is based in Anaheim, CA. Thats a record for us, ...