Other Related Party Transactions

9 Months Ended

Sep. 30, 2012

Other Related Party Transactions

Other Related Party Transactions

(16)  Other Related Party Transactions

The Company has contracted with the Acquisition Partnerships and related parties as a third-party loan servicer. Servicing fees and due diligence fees (included in other income) derived from such affiliates totaled $3.6 million and $2.5 million for the three-month periods ended September 30, 2012 and 2011, respectively, and $12.2 million and $7.1 million for the nine-month periods ended September 30, 2012 and 2011, respectively.

Through a series of related party transactions in 2008, FirstCity (through a majority-owned Mexican subsidiary) acquired a loan portfolio in Mexico. The final funding for this transaction involved two FirstCity majority-owned Mexican subsidiaries and an unconsolidated Mexican affiliated entity, and resulted in an affiliated note payable and an affiliated loan receivable being recorded to the Company’s consolidated balance sheet. At December 31, 2011, the carrying values of this affiliated loan receivable and affiliated note payable both approximated $5.1 million (including accrued interest), and were respectively included in “Assets held for sale” and “Liabilities associated with assets held for sale” on our consolidated balance sheet. In July 2012, the Company sold the Mexican subsidiary that held this affiliated loan receivable and affiliated note payable. See Note 3 for additional information.