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Coral Gables, FL May 27, 2009 -- Bayview Asset Management, LLC (Bayview), a subsidiary of Bayview Financial, L.P., announced today the availability of a high-quality commercial mortgage loan portfolio for sale. The $52 million first-lien portfolio is comprised of low loan-to-value, first-lien commercial loans that were originated in conjunction with second-lien loans under the Small Business Association'ss (SBA) 504 Lending Program and includes 71 loans in 15 states. Depository institutions are invited to place indicative bids with Bayview Asset Management by June 18, 2009 at Bayview Asset Management 504 Sale (www.bayviewassetmanagement.com/504sale).
The government'ss SBA 504 program helps small businesses obtain long-term financing for real estate by providing a second-lien loan takeout to lenders, who typically retain a 50 percent
unguaranteed first-lien loan. As part of the American Recovery and Reinvestment Act aimed at reviving the secondary market and improving liquidity, the Treasury Department and the SBA
plan to take several actions intended to stimulate the secondary market for first lien loans originated under the SBA 504 program. These actions include a process for private sector
entities to apply for federal guarantees on pools of first lien loans originated under the SBA 504 program.
Bayview'ss loan sale program offers banks and lenders the benefit of efficiently booking quality, performing assets in their banking footprint. In addition, bank buyers may have the
ability to cross-sell deposits and other bank services to their new loan customer. Loan details can be viewed at Bayview Asset Management 504 Sale (www.bayviewassetmanagement.com/504sale), or by calling toll-free 1.800.257.8802. Indicative bids are due by 4 p.m. EDT on June 18,
2009. Complete details of the sale including deadlines and key dates are available at Bayview Asset Management 504 Sale (www.bayviewassetmanagement.com/504sale).
About Bayview Asset Management, LLC
Bayview Asset Management, LLC is a full service mortgage finance company headquartered in Miami, Florida. A consistent buyer of loans since 1995, Bayview has been a long-term player in
the whole loan market. The company purchases loans from a variety of institutions including banks, thrifts, mortgage companies, broker/dealers, insurance companies and credit unions.
Bayview acquires seasoned residential and commercial real-estate-backed loans and actively manages the portfolio. To date, Bayview has purchased more than $15 billion of loans from more
than 2,000 institutions.
Bayview Asset Management provides a range of products and services, including residential and commercial special servicing and mortgage-related asset management. More information is
available at Bayview Asset Management (www.bayviewassetmanagement.com).