1987:

FSLIC awards Univest its first regulatory-related due diligence project.

In early 1987, Univest was awarded its first regulatory-related due diligence project by the FSLIC. Univest recommended a liquidation strategy for receivership portfolios based on 100% due diligence and a mark-to-market valuation model that supported the agency’s pricing targets. Since both the seller and the purchaser were fully knowledgeable as to the quality of the assets offered, subsequent sales were consistently and significantly higher than the sales relaying on zero or random sample due diligence.

1987-1988:
Univest becomes a leading contractor for the FSLIC, performing on over 30,000 loans over a two-and-a-half year period.

Due to the success of such a strong due diligence approach, Univest became a leading contractor with the FSLIC. Univest serviced the FSLIC with the operations and liquidations divisions which sought to salvage the savings and loan institutions that were without hope.


1989:
Univest and Fannie Mae consummate the first agency transaction involving a regulatory-controlled portfolio.

Univest’s success with the FSLIC bridged a trusting relationship with Fannie Mae. Fannie Mae required specific solutions that Univest could proudly meet through their quantitative methodologies and experience.


1989-1990:
Several investor groups involved in the acquisition of failed thrifts retain Univest to perform due diligence and mark-to-market analysis to settle regulatory assistance agreements and for purchase accounting.

The results of Univest's Market Pricer (mark-to-market) Model are reviewed and successfully defended before accounting and investment banking firms, and the government agencies. Valuations by Univest enable the transfer of more than $2.5 billion in loans. Acquirers of institutions utilizing Univest's due diligence and mark-to-market methodology included AmericaFirst Financial Corporation in its acquisition of Eureka Federal Savings; First Nationwide Bank in its acquisition of Columbia-Silverado Savings; an investor group in its acquisition of Olney Savings (now AmWest Bank) and eleven other thrifts. For these transactions, Univest priced a total of 30,000 residential, consumer and commercial loans, providing updates as needed.