First City Financial (FirstCity) plans to securitize a much smaller pool of non performing commercial real estate  loans in its third securitization.

The deal, called VFC Series 2015-3, securitizes a $253 million portfolio of largely non-performing, commercial real estate loans. In total the portfolio consists of 341 loans of which 47% are currently nonperforming, 43% are re performing and the rest are real estate owned, according to a Kroll Bond Ratings presale report.

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