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One of my clients has a letter of credit for collateral for 10 million, they want to purchase reo's with the money. The Issue is that the bank may not be a1 or P1 rated that issued the letter of credit. I was wondering if anyone knew of any instituitions, groups or private money people that would help with this transaction. My sources are at a stand still on this particular product. Insight is appreciated.

To clarify I need someone that will lend the money against this 10 million letter of credit even if it is not the entire amount.

Thanks,

cory@walkerlender.com
prestigeprc.webs.com