Fitzgerald Advisors · Direct portfolio brokerage

Start an NPL portfolio conversation with the asset—not a headline price.

At a glance: Fitzgerald Advisors helps lenders and portfolio owners begin a confidential NPL and distressed-asset portfolio review focused on asset scope, readiness, and the next transaction step.

Transaction hub: NPL & Distressed: NPL sales

A defined starting point

A clearer starting point for non-performing and distressed assets.

An NPL or distressed-asset mandate is rarely one uniform pool. Before considering a sale, workout, or segmentation process, the owner needs a workable view of the population, documentation, material exceptions, servicing and legal context, and the objective behind the decision. Fitzgerald starts with that operating picture rather than implying a price or recovery outcome.

Asset scope

What the conversation may cover.

  • Non-performing commercial loans
  • Distressed CRE debt
  • Charged-off debt portfolios
  • Judgment portfolios
  • Specialty-finance receivables
  • Whole-loan and note positions
01

Set the perimeter

Identify the asset population, cutoff date, meaningful segments, exclusions, and objective behind the review.

02

Clarify the record

Summarize the available account, collateral, legal, servicing, and documentation information without exposing sensitive data prematurely.

03

Choose a disciplined path

Decide whether the mandate merits additional preparation, a focused counterparty review, segmentation, a workout alternative, or another operating solution.

Illustrative transaction patterns

What a prepared mandate can look like.

These are anonymized, non-transactional examples of information and decision patterns a broker-led review may involve. They are not representations of completed deals, current inventory, pricing, recovery, or closing results.

NPL pool with uneven tape quality

Illustrative pattern: an owner has a non-performing pool with different documentation conditions across segments. The first review separates the population, defines field meanings and cutoff, reconciles balances, logs exceptions, and determines whether a sale, segmentation, workout, or more preparation is the appropriate next discussion.

Distressed asset review before a buyer process

Illustrative pattern: a lender wants to understand whether a distressed pool is ready for qualified counterparty review. The work begins with servicing, legal, collateral, ownership, and data-room questions, not with a universal price or recovery assumption.

The first conversation

How an NPL review begins

  1. 01

    Frame the decision

    Clarify whether the owner is evaluating a sale, segmentation, a workout alternative, balance-sheet relief, or a general market-readiness review.

  2. 02

    Describe the population

    Define the product type, balance range, jurisdictions, status, available records, and material variations in the asset pool.

  3. 03

    Identify the information gap

    Establish what is known, what needs reconciliation, and what should remain controlled before the next stage.

  4. 04

    Determine the next step

    A focused counterparty path is considered only when the mandate, evidence, and objective support it.

Before you reach out

What an initial NPL conversation should cover

The first discussion is about deciding whether a review is warranted. It is not a request for borrower-level files, a valuation promise, or a commitment to a sale process.

  • Asset type, approximate population, and as-of date
  • Collateral, legal, servicing, or documentation context at a high level
  • Known concentrations, exceptions, and information limitations
  • Owner objective, decision timeline, and confidentiality requirements

Confidential intake

Describe the NPL or distressed-asset mandate

Share the broad asset type, objective, available information, and timing for a confidential conversation. Keep borrower-level information and unredacted files out of the initial inquiry.

Direct answers

Frequently asked questions

What is an NPL portfolio?

An NPL portfolio is a group of loans or credit exposures that are no longer performing under their payment or contractual terms. The relevant review considers the asset type, collateral, status, documents, servicing and legal context, exceptions, and owner objective.

How do NPL portfolio sales work?

An NPL sale typically moves from defining and reconciling the pool to controlled diligence, qualified buyer review, complete bid comparison, definitive documentation, and transfer. The process should be tailored to the asset and information condition rather than treated as a generic listing.

What affects an NPL portfolio sale review?

Material factors include loan and collateral type, balance and status data, payment or workout history, ownership and legal records, servicing capacity, documentation quality, material exceptions, confidentiality needs, and timing.

Asset-class paths: NPL seller intake · NPL buyer mandate

Discuss a portfolio mandate · Sell debt portfolios · Buy debt portfolios