If you are interested in utilizing the BankXchange® network to sell a portfolio of loans, the first step is to phone Paul O'Rear at (415) 289-3239 to discuss your institution's needs. Typically, high-level information on each loan is requested in this conversation and within a few days we provide you with market intelligence and a recommended marketing strategy. This will include a projected realization price, the profile of likely bidders, the timing of a sale and the best means of communicating the opportunity to the target buyers.

Bridger personnel will work with your staff to further develop the information base on each loan, and then "board" the loans into the BankXchange® web pages for viewing by registered visitors. While the highest quality bids are achieved when the maximum amount of information regarding a loan is available, we will work with you to ensure that your required level of anonymity is respected, be it identification of the Selling institution, the borrower or the property. If desired, we can block access to viewing your loans from one or more specific banks. This may be helpful in the event you don't want your "cross-town rival" to learn that you are selling a portion of your portfolio.

Each time a new loan portfolio is boarded into the BX system, we employ the Bridger Client Database to send emails to over 2,200 real estate executives at over 850 institutions alerting them to the opportunity and inviting them to visit the website for details. We also make personal contact with all high potential bidders and preview the portfolio with them.

The normal marketing period for a portfolio is approximately 30-40 days. A bid date is established for the end of this period to generate a sense of urgency, and bids taken. All bids and bidders' names are forwarded to the Seller as received so that the Seller is always up to speed on marketing progress and pricing feedback. When a price is agreed with a Buyer, we work with the parties in documenting an Offer Letter, assist in any necessary due diligence, advise on drafting a Loan Sale Agreement and oversee all steps in the closing process.

The entire Sale process usually takes 60-70 days and is structured to be seamless to the Seller.

The BX LoanAnalyzer is a great way to assess which loans and potential bid terms best suit your needs. Once you've fine-tuned your analysis on your target loans through the BX LoanAnalyzer, you have several choices on the medium in which to communicate your indicative bid:

1. To generate a bid on one or more loans through the BankXchange® home page, move those loans to the BX LoanAnalyzer to analyze the loans and establish a prospective bid price (click here to be taken to Help information on LoanAnalyzer). Once you have determined the appropriate indicative bid price, click on "Create Bid" and the bid parameters will be downloaded to a standardized bid form. This form includes fields for any comments, conditions or contingencies you wish to convey. Click on "Review Bid", make any desired changes and click on "Submit Bid". This will generate an email bid to Bridger that will be reviewed immediately. If any clarification is needed before presentation to the Seller, a Bridger representative will contact you. If the bid is accepted, we will work with the parties to document an Offer Letter, assist in any necessary due diligence, advise on drafting a Loan Sale Agreement and oversee all steps in the closing process.
2. You may e-mail bids or any questions you have to Paul O'Rear at (415) 289-3239 or porear@bridgerfunding.com.
3. To contact Bridger by phone, call (415) 289-3239.
4. Formal offer letters may be faxed to Bridger at (415) 332-8679, or mailed to Bridger Commercial Funding LLC, 100 Shoreline Highway, Suite 100, Mill Valley, CA 94941.