Mission Capital Advisors is a loan sale

Loan sale

A loan sale is a sale, often by a bank, under contract of all or part of the cash stream from a specific loan, thereby removing the loan from the bank's balance sheet....

 advisory firm, with offices in New York City

New York City

New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...

; Austin, Texas

Austin, Texas

Austin is the capital city of the U.S. state of :Texas and the seat of Travis County. Located in Central Texas on the eastern edge of the American Southwest, it is the fourth-largest city in Texas and the 14th most populous city in the United States. It was the third-fastest-growing large city in...

; Palm Beach Gardens, Florida

Palm Beach Gardens, Florida

Palm Beach Gardens is a city in Palm Beach County in the U.S. state of Florida. The city is in the center of a rapidly-developing area north of West Palm Beach in the northern part of the county and the South Florida metropolitan area. , the population was 48,452...

; and Newport Beach, California

Newport Beach, California

Newport Beach, incorporated in 1906, is a city in Orange County, California, south of downtown Santa Ana. The population was 85,186 at the 2010 census.The city's median family income and property values consistently place high in national rankings...

. Mission Capital is typically retained by banks http://seattle.bizjournals.com/seattle/stories/2006/07/17/daily25.html, investment funds, non-bank lenders and mortgage companies to sell performing, sub-performing and non-performing commercial and residential loans and loan portfolios, including defaulted loans from CMBS securitizations for special servicers http://online.wsj.com/article/SB10001424052748704723604575379543602271202.html?KEYWORDS=CMBS+market+rises+from+ashes+of+collapse. These sales help a bank reduce non-performing assets or manage their balance sheet

Balance sheet

In financial accounting, a balance sheet or statement of financial position is a summary of the financial balances of a sole proprietorship, a business partnership or a company. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. A...

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Mission Capital uses an online auction process supported by a virtual data room

Virtual data room

A virtual data room is an online repository of information that is used for the storing and distribution of documents. In many cases, a virtual data room is used to facilitate the due diligence process during an M&A transaction, loan syndication, or private equity and venture capital transactions...

. It is one of five loan sale advisors listed on the FDIC’s website http://fdic.gov/buying/loan/loan/index.html.

Mission Capital expanded in 2009, in response to the growing credit crunch

Credit crunch

A credit crunch is a reduction in the general availability of loans or a sudden tightening of the conditions required to obtain a loan from the banks. A credit crunch generally involves a reduction in the availability of credit independent of a rise in official interest rates...

. It also uses financial models and intimate knowledge transactions in the secondary market

Secondary market

The page applies to the finanical term; For the merchandising concept, see Aftermarket .The secondary market, also called aftermarket, is the financial market where previously issued securities and financial instruments such as stock, bonds, options, and futures are bought and sold....

 to accurately value illiquid collateral, loans http://therealdeal.com/miami/articles/the-truth-about-fha--3 and loan portfolios for banks and other financial institutions http://atlanta.bizjournals.com/atlanta/real_talk/2010/07/when_will_the_property_chase_reach_atlanta.html?surround=lfn.

Sources

• 1. “WaMu selling $140B portfolio to Wells Fargo; Q2 earnings fall" http://seattle.bizjournals.com/seattle/stories/2006/07/17/daily25.html
• 2. "CMBS Market Rises From Ashes of Collapse" http://online.wsj.com/article/SB10001424052748704723604575379543602271202.html?KEYWORDS=CMBS+market+rises+from+ashes+of+collapse
• 3. http://fdic.gov/buying/loan/loan/index.html
• 4. “The Truth About FHA" http://therealdeal.com/miami/articles/the-truth-about-fha--3
• 5. “When Will the Property Chase Reach Atlanta?" http://atlanta.bizjournals.com/atlanta/real_talk/2010/07/when_will_the_property_chase_reach_atlanta.html?surround=lfn