CreditVest, Inc.
Two Gateway Center, 14th Floor, Pittsburgh, PA  15222
Phone: (412) 263-5666
Text Box: In the early 1990’s, CreditVest provided seller finance services for the Federal Deposit Insurance Corporation (FDIC). Services include underwriting the potential borrower and property, providing a loan analysis and recommendation, coordinating the loan approval and closing processes, and expediting mortgage documents. In addition to numerous single asset sales through the years, CreditVest assisted in completing the FDIC National Real Estate Auctions, the three largest commercial real estate auctions in history. By providing seller financing on commercial real estate assets, the RTC and FDIC enlarged the pool of potential buyers, thereby increasing competition and the amount of funds recovered for the U.S. Treasury. The securitization and sale of the resulting loans paved the way for the CMBS industry.

Since the Company’s inception in 1991, CreditVest has been performing real estate underwriting, due diligence, and consulting services for various departments of the United States Government. CreditVest is currently an active Participating Administrative Entity (PAE) for the U.S. Department of Housing and Urban Development's Office of Affordable Housing Preservation (OAHP).

Government
Text Box: CreditVest, Inc. Text Box: CreditVest assisted the Resolution Trust Corporation (RTC) in implementing their Seller Finance program. CreditVest was the only firm approved and awarded contracts in each of the four RTC regions nationwide. This nationwide presence allowed CreditVest the flexibility to evaluate numerous portfolio assignments. Buyers seeking to purchase RTC assets were reviewed by CreditVest to assess their experience in managing similar assets, financial strength, and liquidity related to the asset being sold. From 1991 through 1995, CreditVest assisted the RTC in resolving over $4 billion of assets. Text Box: CreditVest has previously held designations with the United States General Services Administration (GSA) for Financial and Business Solutions Services under SIN 520-1 Program Financial Advisory Services and SIN 520-3 Due Diligence and Support Services. Text Box: In December 1999, CreditVest was awarded a Contract to assist the Department of Housing and Urban Development’s Office of Multifamily Housing Assistance Restructuring in implementing the Multifamily Assisted Housing Reform and Affordability Act of 1997. Since 1999, CreditVest has been awarded assignments to evaluate over 430 multifamily Section 8 properties with expiring housing assistance contracts. Duties include site inspections, conducting tenant meetings, engaging third parties (physical condition, environmental and engineering inspections), determining market rents, negotiating with owners, restructuring loans and coordinating closings. In 2009, HUD expanded CreditVest’s role to include analysis and administration of properties qualifying for its Green Initiative environmental rehabilitation program.

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