Saturday, December 11, 2010

Blue Asset Management Aggressively Seeking NPNs

Blue Asset Management, managed by Charles Blumenkehl, CEO and managing partner of Blue Asset Management LLC, has announced that his company will be aggressively seeking non-performing mortgage notes throughout the state of New Jersey.

According to Charles Blumenkehl, "regional and local banks will be hard pressed to retain many of their non performing notes on their books, and will need to liquidate their non performing inventory to adhere to FDIC banking guidelines. We hope to be in the forefront of this activity, and look forward to leveraging our relationships and liquidity to help solve the problem that exists for many of these affected holders of mortgages that need to be monetized quickly."

According to Blumenkehl, several hundred banks have been placed on the FDIC watch list, and will have to act to comply to regulation. By enabling banks to liquidate their New Jersey portfolio, Blumenkehl hopes his company will leverage the opportunities at hand while helping banks comply to federal guidelines and remain solvent.

Blue Asset Management was founded by Charles Blumenkehl in 2008 and is a buyer of non-performing and performing notes and distressed real estate. For more information about Charles Blumenkehl and Blue Asset Management LLC log onto the company website at www/ or call the company directly at 973-835-1400.


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