“We are currently responding to an influx of credit advisory assignments and loan portfolio acquisition opportunities with banks,” said Jackson. “This particular acquisition extends our presence in Colorado and further expands our national platform.”

The FDIC’s Small Investor Program is designed to increase investor access to smaller asset pools, widen participation in structured sales and maintain a level playing field for investors through a competitive bid process. A total of 13 bids were received for this first FDIC SIP portfolio sale.

Sabal Financial Group will perform management, servicing and disposition services for the loan pool in yet another move in the company’s ongoing expansion of its servicing portfolio, now totaling nearly $3 billion in assets. Because of Sabal’s increasing deal volume and rapid expansion, the firm has hired 23-year industry veteran Rick Brown as portfolio manager overseeing the firm’s acquisition, development and construction loan portfolios.

Brown will oversee all of the firm’s residential acquisition, development and construction loan portfolios and perform an integral role in the company’s acquisition and valuation services platform. Before his position with Sabal Financial Group, Brown served as REO department manager at California Bank and Trust, where during 2010 his department completed $100 million in sale transactions, generating returns above projection for approximately 70% of the 139 total sale transactions. Jackson cited Brown's blend of builder/developer experience and bank workout expertise as factors that will provide Sabal with "a strategic advantage in the valuation of residential loan portfolio acquisitions, loan servicing and dispositions.”

Brown has also previously served as a partner of Allied Management Partners overseeing management, operations and company profitability, and served as vice president at William Lyon Homes, where he implemented profitable changes within the home building group, designing and completing new home developments with gross revenues of $685 million and a net profit of $94 million.