Exhibit 21.1

FIRSTCITY FINANCIAL CORPORATION

|A. |  | Corporations:                                       |  |                                                                   |  |                          |  |        
|-- |  | --------------------------------------------------- |  | ----------------------------------------------------------------- |  | ------------------------ |  | -------
|   |  | Name:                                               |  | Bosque Asset Corp.                                                |  |                          |  |        
|   |  | Jurisdiction:                                       |  | Texas, incorporated on March 27, 1997                             |  |                          |  |        
|   |  | Shareholder:                                        |  | FirstCity Financial Corporation                                   |  | 10,000 Shares            |  | (100%) 
|   |  | Name:                                               |  | FirstCity Commercial Corporation (formerly J-Hawk Corporation)    |  |                          |  |        
|   |  | Jurisdiction:                                       |  | Texas, incorporated on July 21, 1995                              |  |                          |  |        
|   |  | Shareholder:                                        |  | FirstCity Financial Corporation                                   |  | 1,000 Shares Cert. No. 1 |  | (100%) 
|   |  | Consolidated Subsidiary:                            |  | Yes                                                               |  |                          |  |        
|   |  | Name:                                               |  | FC Capital Corp. (d/b/a FirstCity Capital Corporation)            |  |                          |  |        
|   |  | Jurisdiction:                                       |  | New York, incorporated on August 4, 1997                          |  |                          |  |        
|   |  | Shareholder:                                        |  | FirstCity Financial Corporation                                   |  | 1,000,000 Shares         |  | (100%) 
|   |  | Name:                                               |  | FirstCity Consumer Lending Corporation                            |  |                          |  |        
|   |  | Jurisdiction:                                       |  | Texas, incorporated on September 5, 1997                          |  |                          |  |        
|   |  | Shareholder:                                        |  | FirstCity Financial Corporation                                   |  | 1,000 Shares             |  | (100%) 
|   |  | Name:                                               |  | FirstCity Business Lending Corporation                            |  |                          |  |        
|   |  | Jurisdiction:                                       |  | Texas, incorporated on June 6, 2006                               |  |                          |  |        
|   |  | Shareholder:                                        |  | FirstCity Financial Corporation                                   |  | 400 Shares               |  | (100%) 
|   |  | Name:                                               |  | American Business Lending, Inc.                                   |  |                          |  |        
|   |  | Jurisdiction:                                       |  | Texas, incorporated on June 6, 2006                               |  |                          |  |        
|   |  | Shareholder:                                        |  | FirstCity Business Lending Corporation                            |  | 96,000 Common Shares     |  | (96.0%)
|   |  |                                                     |  |                                                                   |  | 800,000 Preferred Shares |  |        
|B. |  | Corporate General Partners of Limited Partnerships: |  |                                                                   |  |                         
|   |  | Name:                                               |  | Bosque Asset GP Corp. (formerly SLP Assets GP Corp.)              |  |                          |  |        
|   |  | Jurisdiction:                                       |  | Texas, incorporated on April 12, 2001                             |  |                          |  |        
|   |  | Shareholder:                                        |  | FirstCity Financial Corporation                                   |  | 400 Shares               |  | (100%) 
|   |  | Name:                                               |  | Bosque Leasing GP Corp. (formerly Bosque Investment Realty Corp.) |  |                          |  |        
|   |  | Jurisdiction:                                       |  | Texas, incorporated on June 6, 1997                               |  |                          |  |        
|   |  | Shareholder:                                        |  | Bosque Asset Corp.                                                |  | 400 Shares               |  | (100%) 

1

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|C. |  | Limited Partnerships: |  |                                                                         |  |        
|-- |  | --------------------- |  | ----------------------------------------------------------------------- |  | -------
|   |  | Name:                 |  | Bosque Asset Funding, L.P. (formerly SLP Assets, Ltd.)                  |  |        
|   |  | Jurisdiction:         |  | Texas, certificate filed on April 12, 2001                              |  |        
|   |  | Partners:             |  | Bosque Asset GP Corp.                                                   |  | General
|   |  |                       |  | FirstCity Financial Corporation                                         |  | Limited
|   |  | Name:                 |  | Bosque Leasing, L.P. (formerly Bosque Investment Realty Partners, L.P.) |  |        
|   |  | Jurisdiction:         |  | Texas, certificate filed on June 6, 1997                                |  |        
|   |  | Partners:             |  | Bosque Leasing GP Corp.                                                 |  | General
|   |  |                       |  | Bosque Asset Corp.                                                      |  | Limited

|A. |  | Corporations and other Entities: |  |                                        |  |             
|-- |  | -------------------------------- |  | -------------------------------------- |  | ------------
|   |  | Name:                            |  | FirstCity Denver Investment Corp.      |  |             
|   |  | Jurisdiction:                    |  | Texas, incorporated on April 9, 2007   |  |             
|   |  | Shareholder:                     |  | FirstCity Commercial Corporation       |  | 800 Shares  
|   |  | Name:                            |  | FirstCity Crestone LLC                 |  |             
|   |  | Jurisdiction:                    |  | Texas, formed on April 9, 2007         |  |             
|   |  | Shareholder:                     |  | FirstCity Denver Investment Corp.      |  |             
|   |  | Name:                            |  | FC Crestone 07 Corp.                   |  |             
|   |  | Jurisdiction:                    |  | Texas; formed on June 5, 2007          |  |             
|   |  | Shareholder:                     |  | FirstCity Denver Investment Corp.      |  | 1,000 shares
|   |  | Name:                            |  | FC Crestone Colorado 07 LLC            |  |             
|   |  | Jurisdiction:                    |  | Colorado; formed September, 2007       |  |             
|   |  | Member:                          |  | FC Crestone 07 Corp.                   |  |             
|   |  | Name:                            |  | Regional Rail, LLC                     |  |             
|   |  | Jurisdiction:                    |  | Delaware; July 25, 2007                |  |             
|   |  | Managers:                        |  | Alfred M. Sauer
Robert C. Parker       |  |             
|   |  | Members:                         |  | FC Crestone 07 Corp.                   |  | 80,000 Units
|   |  |                                  |  | Robert C. Parker                       |  | 10,000 Units
|   |  |                                  |  | Alfred M. Sauer                        |  | 10,000 Units
|   |  | Name:                            |  | FirstCity Europe Corporation           |  |             
|   |  | Jurisdiction:                    |  | Texas; incorporated on May 12, 2003    |  |             
|   |  | Shareholder:                     |  | FirstCity Commercial Corporation       |  | 1,000 Shares
|   |  | Name:                            |  | MPortfolio Corporation                 |  |             
|   |  | Jurisdiction:                    |  | Texas; incorporated on June 5, 2007    |  |             
|   |  | Shareholders:                    |  | FirstCity Commercial Corporation       |  | 1,000 Shares
|   |  | Name:                            |  | Calibat Fund Limited Liability Company |  |             
|   |  | Jurisdiction:                    |  | Minnesota                              |  |             
|   |  | Member:                          |  | FirstCity Commercial Corporation       |  |             

2

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| |  | Name:         |  | FC Funding Corp.                                                                        |  |                      |  |       
| |  | ------------- |  | --------------------------------------------------------------------------------------- |  | -------------------- |  | ------
| |  | Jurisdiction: |  | Texas, incorporated on March 26, 1996                                                   |  |                      |  |       
| |  | Shareholder:  |  | FirstCity Commercial Corporation                                                        |  | 1,000 Shares         |  | (100%)
| |  | Name:         |  | F & C Texas Holdings Corporation                                                        |  |                      |  |       
| |  | Jurisdiction: |  | Texas, incorporated on November 23, 2005                                                |  |                      |  |       
| |  | Shareholder:  |  | FirstCity Commercial Corporation                                                        |  | 4,000 Shares Class A |  | (80%) 
| |  | Name:         |  | F & C Delaware Holdings Corporation                                                     |  |                      |  |       
| |  | Jurisdiction: |  | Delaware, incorporated on November 22, 2005                                             |  |                      |  |       
| |  | Shareholder:  |  | F & C Texas Holdings Corporation                                                        |  | 4,000 Shares Class A |  | (80%) 
| |  | Name:         |  | FH Partners LLC                                                                         |  |                      |  |       
| |  | Jurisdiction: |  | Texas, certificate filed on December 17, 1996                                           |  |                      |  |       
| |  | Member:       |  | FirstCity Commercial Corporation                                                        |  |                      |  | (100%)
| |  | Name:         |  | FirstCity Holdings Corporation of Minnesota                                             |  |                      |  |       
| |  | Jurisdiction: |  | Texas, incorporated on March 11, 2002                                                   |  |                      |  |       
| |  | Shareholders: |  | FirstCity Commercial Corporation                                                        |  | 400 Shares           |  | (100%)
| |  | Name:         |  | FirstCity Servicing Corporation (formerly J-Hawk Servicing Corporation)                 |  |                      |  |       
| |  | Jurisdiction: |  | Texas, incorporated on July 25, 1995                                                    |  |                      |  |       
| |  | Shareholders: |  | FirstCity Commercial Corporation                                                        |  | 1,000 Shares         |  | (100%)
| |  | Name:         |  | FirstCity International Corporation (formerly J-Hawk International Corp.)               |  |                      |  |       
| |  | Jurisdiction: |  | Texas; incorporated on December 19, 1996                                                |  |                      |  |       
| |  | Shareholders: |  | FirstCity Commercial Corporation                                                        |  | 200 Shares           |  | (100%)
| |  | Name:         |  | FirstCity Japan Inc.                                                                    |  |                      |  |       
| |  | Jurisdiction: |  | Texas, incorporated on October 16, 1998                                                 |  |                      |  |       
| |  | Shareholders: |  | FirstCity Commercial Corporation                                                        |  | 10,000 Shares        |  | (100%)
| |  | Name:         |  | Crinoline Investments B.V., a private company with limited liability                    |  |                      |  |       
| |  | Jurisdiction: |  | The Netherlands, established October 1, 1997                                            |  |                      |  |       
| |  | Shareholders: |  | FirstCity Japan Inc.                                                                    |  | 410 Shares           |  | (100%)
| |  | Name:         |  | FirstCity Mexico, Inc.                                                                  |  |                      |  |       
| |  | Jurisdiction: |  | Texas, incorporated on December 9, 1998                                                 |  |                      |  |       
| |  | Shareholders: |  | FirstCity Commercial Corporation                                                        |  | 1,000 Shares         |  | (100%)
| |  | Name:         |  | FirstCity South America, LLC                                                            |  |                      |  |       
| |  | Jurisdiction: |  | Texas, formed December 12, 2003                                                         |  |                      |  |       
| |  | Managers:     |  | Rodrigo Igancio Silva Alfaro
Rene Educardo Silva Alfaro
James C. Holmes
Terry R. DeWitt |  |                      |  |       
| |  | Members:      |  | FirstCity Commercial Corporation                                                        |  | 500 Units            |  | (50%) 

3

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|   |  | Name:                                               |  | FirstCity Chile, Ltda.                    |  |              |  |         
|-- |  | --------------------------------------------------- |  | ----------------------------------------- |  | ------------ |  | --------
|   |  | Jurisdiction:                                       |  | Chile, formed May 24, 2005                |  |              |  |         
|   |  | Shareholders:                                       |  | FirstCity Commercial Corporation          |  |              |  | (100%)  
|   |  | Name:                                               |  | CFSC Consortium, LLC                      |  |              |  |         
|   |  | Jurisdiction:                                       |  | Delaware, incorporated on August 12, 1999 |  |              |  |         
|   |  | Manager:                                            |  | CFSC Capital Corp. II                     |  |              |  |         
|   |  | Members:                                            |  | WAMCO XXVII, Ltd.                         |  |              |  | (51.16%)
|B. |  | Corporate General Partners of Limited Partnerships: |  |                                           |  |             
|   |  | Name:                                               |  | WAMCO XX of Texas, Inc.                   |  |              |  |         
|   |  | Jurisdiction:                                       |  | Texas                                     |  |              |  |         
|   |  | Shareholder:                                        |  | FirstCity Commercial Corporation          |  | 2,048 Shares |  | (50%)   
|   |  | Name:                                               |  | WAMCO XXIV of Texas, Inc.                 |  |              |  |         
|   |  | Jurisdiction:                                       |  | Texas, incorporated on March 6, 1996      |  |              |  |         
|   |  | Shareholder:                                        |  | FirstCity Commercial Corporation          |  | 200 Shares   |  | (50%)   
|   |  | Name:                                               |  | WAMCO XXVI of Texas, Inc.                 |  |              |  |         
|   |  | Jurisdiction:                                       |  | Texas, incorporated on September 22, 1998 |  |              |  |         
|   |  | Shareholder:                                        |  | FirstCity Commercial Corporation          |  | 200 Shares   |  | (50%)   
|   |  | Name:                                               |  | DFC Asset Corp.                           |  |              |  |         
|   |  | Jurisdiction:                                       |  | Texas, incorporated on July 26, 1995      |  |              |  |         
|   |  | Shareholder:                                        |  | FirstCity Commercial Corporation          |  | 1,000 Shares |  | (100%)  
|   |  | Name:                                               |  | First C Corp.                             |  |              |  |         
|   |  | Jurisdiction:                                       |  | Texas, incorporated on March 6, 1998      |  |              |  |         
|   |  | Shareholder:                                        |  | FirstCity Commercial Corporation          |  | 200 Shares   |  | (100%)  
|   |  | Name:                                               |  | First X Corp.                             |  |              |  |         
|   |  | Jurisdiction:                                       |  | Texas, incorporated on October 3, 1996    |  |              |  |         
|   |  | Shareholder:                                        |  | FirstCity Commercial Corporation          |  | 200 Shares   |  | (100%)  
|   |  | Name:                                               |  | First B Corp.                             |  |              |  |         
|   |  | Jurisdiction:                                       |  | Texas, incorporated on October 10, 1997   |  |              |  |         
|   |  | Shareholder:                                        |  | FirstCity Commercial Corporation          |  | 400 Shares   |  | (100%)  
|   |  | Name:                                               |  | FirstGreen GP LLC                         |  |              |  |         
|   |  | Jurisdiction:                                       |  | Delaware; formed on August 29, 2003       |  |              |  |         
|   |  | Member:                                             |  | FirstCity Commercial Corporation          |  |              |  | (100%)  
|   |  | Name:                                               |  | FC Washington GP LLC                      |  |              |  |         
|   |  | Jurisdiction:                                       |  | Texas; formed on April 20, 2005           |  |              |  |         
|   |  | Member:                                             |  | FirstCity Commercial Corporation          |  |              |  | (100%)  
|   |  | Name:                                               |  | WAMCO XXVII of Texas, Inc.                |  |              |  |         
|   |  | Jurisdiction:                                       |  | Texas, incorporated on September 20, 1999 |  |              |  |         
|   |  | Shareholders:                                       |  | FirstCity Commercial Corporation          |  | 200 Shares   |  | (50%)   
|   |  | Name:                                               |  | WAMCO 30 of Texas, Inc.                   |  |              |  |         
|   |  | Jurisdiction:                                       |  | Texas, incorporated on January 5, 2001    |  |              |  |         
|   |  | Shareholders:                                       |  | FirstCity Commercial Corporation          |  | 200 Shares   |  | (50%)   
|   |  | Name:                                               |  | WAMCO 32 of Texas, Inc.                   |  |              |  |         
|   |  | Jurisdiction:                                       |  | Texas, incorporated on October 8, 2003    |  |              |  |         
|   |  | Shareholders:                                       |  | FirstCity Commercial Corporation          |  | 200 Shares   |  | (50%)   

4

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|   |  | Name:                 |  | WAMCO 80 of Texas, Inc.                        |  |                 |  |       
|-- |  | --------------------- |  | ---------------------------------------------- |  | --------------- |  | ------
|   |  | Jurisdiction:         |  | Texas, incorporated on March 24, 2006          |  |                 |  |       
|   |  | Shareholders:         |  | FirstCity Commercial Corporation               |  | 250 Shares      |  | (50%) 
|   |  | Name:                 |  | FirstVal 1 GP Corp.                            |  |                 |  |       
|   |  | Jurisdiction:         |  | Texas, incorporated on September 14, 2006      |  |                 |  |       
|   |  | Shareholders:         |  | FirstCity Commercial Corporation               |  | 200 Shares      |  | (50%) 
|   |  | Name:                 |  | FCS Wood GP, Corp.                             |  |                 |  |       
|   |  | Jurisdiction:         |  | Texas, incorporated on September 15, 1998      |  |                 |  |       
|   |  | Shareholders:         |  | FirstCity Commercial Corporation               |  | 200 Shares      |  | (50%) 
|   |  | Name:                 |  | FCS Creamer GP, Corp.                          |  |                 |  |       
|   |  | Jurisdiction:         |  | Texas, incorporated on April 28, 1999          |  |                 |  |       
|   |  | Shareholders:         |  | FirstCity Commercial Corporation               |  | 200 Shares      |  | (50%) 
|   |  | Name:                 |  | FCS Wildhorse GP, Corp.                        |  |                 |  |       
|   |  | Jurisdiction:         |  | Texas, incorporated on June 14, 1999           |  |                 |  |       
|   |  | Shareholders:         |  | FirstCity Commercial Corporation               |  | 200 Shares      |  | (50%) 
|   |  | Name:                 |  | FCS Lancaster GP Corp.                         |  |                 |  |       
|   |  | Jurisdiction:         |  | Texas, incorporated on December 21, 2005       |  |                 |  |       
|   |  | Shareholders:         |  | FirstCity Commercial Corporation               |  | 200 Shares      |  | (50%) 
|   |  | Name:                 |  | Imperial Partners GP Corp.                     |  |                 |  |       
|   |  | Jurisdiction:         |  | Texas, incorporated on October 4, 2000         |  |                 |  |       
|   |  | Shareholder:          |  | FirstCity Commercial Corporation               |  | 400 Shares      |  | (100%)
|   |  | Name:                 |  | MinnTex GP Corp.                               |  |                 |  |       
|   |  | Jurisdiction:         |  | Texas, incorporated on March 11, 2002          |  |                 |  |       
|   |  | Shareholder:          |  | FirstCity Holdings Corporation of Minnesota    |  | 200 Shares      |  | (50%) 
|C. |  | Limited Partnerships: |  |                                                |  |                
|   |  | Name:                 |  | WAMCO XX, Ltd.                                 |  |                 |  |       
|   |  | Jurisdiction:         |  | Texas                                          |  |                 |  |       
|   |  | Partners:             |  | WAMCO XX of Texas, Inc.                        |  | General         |  | 2%    
|   |  |                       |  | FirstCity Commercial Corporation               |  | Class A Limited |  | 49%   
|   |  | Name:                 |  | WAMCO XXIV, Ltd.                               |  |                 |  |       
|   |  | Jurisdiction:         |  | Texas, certificate filed on March 6, 1996      |  |                 |  |       
|   |  | Partners:             |  | WAMCO XXIV of Texas, Inc.                      |  | General         |  | 2%    
|   |  |                       |  | FirstCity Commercial Corporation               |  | Limited         |  | 49%   
|   |  | Name:                 |  | WAMCO XXVI, Ltd.                               |  |                 |  |       
|   |  | Jurisdiction:         |  | Texas, certificate filed on September 22, 1998 |  |                 |  |       
|   |  | Partners:             |  | WAMCO XXVI of Texas, Inc.                      |  | General         |  | 0.50% 
|   |  |                       |  | FirstCity Commercial Corporation               |  | Limited         |  | 49.75%
|   |  | Name:                 |  | First C Partners, L.P.                         |  |                 |  |       
|   |  | Jurisdiction:         |  | Texas, certificate filed on March 6, 1998      |  |                 |  |       
|   |  | Partners:             |  | First C Corp.                                  |  | General         |  | 2%    
|   |  |                       |  | FirstCity Commercial Corporation               |  | Limited         |  | 98%   

5

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| |  | Name:         |  | First X Realty, L.P.                           |  |         |  |         
| |  | ------------- |  | ---------------------------------------------- |  | ------- |  | --------
| |  | Jurisdiction: |  | Texas, certificate filed on October 3, 1996    |  |         |  |         
| |  | Partners:     |  | First X Corp.                                  |  | General |  | 2%      
| |  |               |  | FirstCity Commercial Corporation               |  | Limited |  | 98%     
| |  | Name:         |  | First B Realty, L.P.                           |  |         |  |         
| |  | Jurisdiction: |  | Texas, certificate filed on October 10, 1997   |  |         |  |         
| |  | Partners:     |  | First B Corp.                                  |  | General |  | 1%      
| |  |               |  | FirstCity Commercial Corporation               |  | Limited |  | 49%     
| |  | Name:         |  | Diversified Financial Systems, L.P.            |  |         |  |         
| |  | Jurisdiction: |  | Texas, certificate filed on April 19, 1999     |  |         |  |         
| |  | Partners:     |  | DFC Asset Corp.                                |  | General |  | 1.0%    
| |  |               |  | FirstCity Commercial Corporation               |  | Limited |  | 99.0%   
| |  | Name:         |  | FirstGreen LP                                  |  |         |  |         
| |  | Jurisdiction: |  | Delaware, August 29, 2003                      |  |         |  |         
| |  | Partners:     |  | FirstGreen GP LLC                              |  | General |  | 1.00%   
| |  |               |  | FirstCity Commercial Corporation               |  | Limited |  | 99.00%  
| |  | Name:         |  | FC Washington I LP                             |  |         |  |         
| |  | Jurisdiction: |  | Texas, April 20, 2005                          |  |         |  |         
| |  | Partners:     |  | FC Washington GP LLC                           |  | General |  | 1.00%   
| |  |               |  | FirstCity Commercial Corporation               |  | Limited |  | 99.00%  
| |  | Name:         |  | WAMCO XXVII, Ltd.                              |  |         |  |         
| |  | Jurisdiction: |  | Texas, certificate filed on September 20, 1999 |  |         |  |         
| |  | Partners:     |  | WAMCO XXVII of Texas, Inc.                     |  | General |  | 2.0%    
| |  |               |  | FirstCity Commercial Corporation               |  | Limited |  | 4.0%    
| |  | Name:         |  | WAMCO 30, Ltd.                                 |  |         |  |         
| |  | Jurisdiction: |  | Texas, certificate filed on January 5, 2001    |  |         |  |         
| |  | Partners:     |  | WAMCO 30 of Texas, Inc.                        |  | General |  | 1.3690% 
| |  |               |  | FirstCity Commercial Corporation               |  | Limited |  | 49.3155%
| |  | Name:         |  | WAMCO 32, Ltd.                                 |  |         |  |         
| |  | Jurisdiction: |  | Texas, certificate filed on October 8, 2003    |  |         |  |         
| |  | Partners:     |  | WAMCO 32 of Texas, Inc.                        |  | General |  | 1.0%    
| |  |               |  | FirstCity Commercial Corporation               |  | Limited |  | 49.50%  
| |  | Name:         |  | WAMCO 80, Ltd.                                 |  |         |  |         
| |  | Jurisdiction: |  | Texas, certificate filed on March 24, 2006     |  |         |  |         
| |  | Partners:     |  | WAMCO 80 of Texas, Inc.                        |  | General |  | 1.0%    
| |  |               |  | FirstCity Commercial Corporation               |  | Limited |  | 79.5%   
| |  | Name:         |  | FirstVal 1, Ltd.                               |  |         |  |         
| |  | Jurisdiction: |  | Texas, certificate filed on September 14, 2006 |  |         |  |         
| |  | Partners:     |  | FirstVal 1 GP Corp.                            |  | General |  | 1.0%    
| |  |               |  | FirstCity Commercial Corporation               |  | Limited |  | 49.5%   
| |  | Name:         |  | FCS Wood, Ltd.                                 |  |         |  |         
| |  | Jurisdiction: |  | Texas, certificate filed on September 15, 1998 |  |         |  |         
| |  | Partners:     |  | FCS Wood GP Corp.                              |  | General |  | 0.50%   

6

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|   |  |                                                                   |  | FirstCity Commercial Corporation              |  | Limited      |  | 49.75%
|-- |  | ----------------------------------------------------------------- |  | --------------------------------------------- |  | ------------ |  | ------
|   |  | Name:                                                             |  | FCS Creamer, Ltd.                             |  |              |  |       
|   |  | Jurisdiction:                                                     |  | Texas, certificate filed on April 28, 1999    |  |              |  |       
|   |  | Partners:                                                         |  | FCS Creamer GP, Corp.                         |  | General      |  | 0.50% 
|   |  |                                                                   |  | FirstCity Commercial Corporation              |  | Limited      |  | 49.75%
|   |  | Name:                                                             |  | FCS Wildhorse, Ltd.                           |  |              |  |       
|   |  | Jurisdiction:                                                     |  | Texas, certificate filed on June 14, 1999     |  |              |  |       
|   |  | Partners:                                                         |  | FCS Wildhorse GP, Corp.                       |  | General      |  | 0.50% 
|   |  |                                                                   |  | FirstCity Commercial Corporation              |  | Limited      |  | 49.75%
|   |  | Name:                                                             |  | FCS Lancaster, Ltd.                           |  |              |  |       
|   |  | Jurisdiction:                                                     |  | Texas, certificate filed on December 21, 2005 |  |              |  |       
|   |  | Partners:                                                         |  | FCS Lancaster GP Corp.                        |  | General      |  | 0.50% 
|   |  |                                                                   |  | FirstCity Commercial Corporation              |  | Limited      |  | 49.75%
|   |  | Name:                                                             |  | Imperial Partners, Ltd.                       |  |              |  |       
|   |  | Jurisdiction:                                                     |  | Texas, certificate filed on October 4, 2000   |  |              |  |       
|   |  | Partners:                                                         |  | Imperial Partners GP Corp.                    |  | General      |  | 0.50% 
|   |  |                                                                   |  | FirstCity Commercial Corporation              |  | Limited      |  | 99.50%
|   |  | Name:                                                             |  | MinnTex Investment Partners LP                |  |              |  |       
|   |  | Jurisdiction:                                                     |  | Texas, certificate filed on March 11, 2002    |  |              |  |       
|   |  | Partners:                                                         |  | MinnTex GP Corp.                              |  | General      |  | 1.00% 
|   |  |                                                                   |  | FirstCity Holdings Corporation of Minnesota   |  | Limited      |  | 33.00%
|   |  | Name:                                                             |  | Strategic Mexican Lending Partners 2, L.P.    |  |              |  |       
|   |  | Jurisdiction:                                                     |  | Texas, certificate filed on July 3, 2001      |  |              |  |       
|   |  | Partners:                                                         |  | FirstCity Commercial Corporation              |  | General      |  | 1.0%  
|   |  |                                                                   |  | FirstCity Commercial Corporation              |  | Limited      |  | 99.0% 
|   |  | Name:                                                             |  | Strategic Mexican Investment Partners 2, L.P. |  |              |  |       
|   |  | Jurisdiction:                                                     |  | Texas, certificate filed on July 3, 2001      |  |              |  |       
|   |  | Partners:                                                         |  | FirstCity Commercial Corporation              |  | General      |  | 1.0%  
|   |  |                                                                   |  | FirstCity Commercial Corporation              |  | Limited      |  | 99.0% 
|D. |  | Corporate General Partners of REO Affiliate Limited Partnerships: |  |                                              
|   |  | Name:                                                             |  | SOWAMCO XX of Texas, Inc.                     |  |              |  |       
|   |  | Jurisdiction:                                                     |  | Texas                                         |  |              |  |       
|   |  | Shareholder:                                                      |  | FirstCity Commercial Corporation              |  | 1,800 Shares |  | (50%) 
|   |  | Name:                                                             |  | SOWAMCO XXIV of Texas, Inc.                   |  |              |  |       
|   |  | Jurisdiction:                                                     |  | Texas, incorporated on December 15, 1993      |  |              |  |       
|   |  | Shareholder:                                                      |  | FirstCity Commercial Corporation              |  | 200 Shares   |  | (50%) 
|   |  | Name:                                                             |  | FH Properties of Texas, Inc.                  |  |              |  |       
|   |  | Jurisdiction:                                                     |  | Texas, incorporated on November 19, 1997      |  |              |  |       
|   |  | Shareholder:                                                      |  | FirstCity Commercial Corporation              |  | 200 Shares   |  | (100%)
|   |  | Name:                                                             |  | MA Realco, Inc.                               |  |              |  |       
|   |  | Jurisdiction:                                                     |  | Texas, incorporated on July 25, 1995          |  |              |  |       
|   |  | Shareholder:                                                      |  | FirstCity Commercial Corporation              |  | 200 Shares   |  | (100%)

7

---



| |  | Name:         |  | Paloma Asset Corp.                       |  |            |  |       
| |  | ------------- |  | ---------------------------------------- |  | ---------- |  | ------
| |  | Jurisdiction: |  | Texas, incorporated on November 26, 1996 |  |            |  |       
| |  | Shareholder:  |  | FirstCity Commercial Corporation         |  | 500 Shares |  | (50%) 
| |  | Name:         |  | SV Asset Corp.                           |  |            |  |       
| |  | Jurisdiction: |  | Texas, incorporated on July 21, 1995     |  |            |  |       
| |  | Shareholder:  |  | FirstCity Commercial Corporation         |  | 200 Shares |  | (100%)
| |  | Name:         |  | SVD Realty Asset Corp.                   |  |            |  |       
| |  | Jurisdiction: |  | Texas, incorporated on June 6, 1997      |  |            |  |       
| |  | Shareholder:  |  | FirstCity Commercial Corporation         |  | 400 Shares |  | (100%)
| |  | Name:         |  | EuroTex Partners GP Corp.                |  |            |  |       
| |  | Jurisdiction: |  | Texas, incorporated on June 18, 2004     |  |            |  |       
| |  | Shareholder:  |  | FirstCity Commercial Corporation         |  | 400 Shares |  | (100%)
| |  | Name:         |  | SOWAMCO XXV of Texas, Inc.               |  |            |  |       
| |  | Jurisdiction: |  | Texas, incorporated on May 26, 1995      |  |            |  |       
| |  | Shareholders: |  | FirstCity Commercial Corporation         |  | 200 Shares |  | (50%) 
| |  | Name:         |  | SOWAMCO XXVII of Texas, Inc.             |  |            |  |       
| |  | Jurisdiction: |  | Texas, incorporated on January 18, 2000  |  |            |  |       
| |  | Shareholders: |  | WAMCO XXVII, Ltd.                        |  | 400 Shares |  | (100%)
| |  | Name:         |  | SOWAMCO XXVIII of Texas, Inc.            |  |            |  |       
| |  | Jurisdiction: |  | Texas, incorporated on March 24, 2000    |  |            |  |       
| |  | Shareholders: |  | WAMCO 30, Ltd.                           |  | 400 Shares |  | (100%)
| |  | Name:         |  | SOWAMCO XXIX of Texas, Inc.              |  |            |  |       
| |  | Jurisdiction: |  | Texas, incorporated on December 11, 2000 |  |            |  |       
| |  | Shareholders: |  | WAMCO XXVII, Ltd.                        |  | 400 Shares |  | (100%)
| |  | Name:         |  | SOWAMCO XXX of Texas, Inc.               |  |            |  |       
| |  | Jurisdiction: |  | Texas, incorporated on May 30, 2002      |  |            |  |       
| |  | Shareholders: |  | WAMCO 30, Ltd.                           |  | 400 Shares |  | (100%)
| |  | Name:         |  | SOWAMCO 31 of Texas, Inc.                |  |            |  |       
| |  | Jurisdiction: |  | Texas, incorporated on August 20, 2003   |  |            |  |       
| |  | Shareholders: |  | WAMCO 30, Ltd.                           |  | 400 Shares |  | (100%)
| |  | Name:         |  | SOWAMCO 33 of Texas, Inc.                |  |            |  |       
| |  | Jurisdiction: |  | Texas, incorporated on December 10, 2003 |  |            |  |       
| |  | Shareholders: |  | WAMCO 30, Ltd.                           |  | 400 Shares |  | (100%)
| |  | Name:         |  | SOWAMCO 34 of Texas, Inc.                |  |            |  |       
| |  | Jurisdiction: |  | Texas, incorporated on March 21, 2005    |  |            |  |       
| |  | Shareholders: |  | WAMCO 30, Ltd.                           |  | 400 Shares |  | (100%)
| |  | Name:         |  | SOWAMCO 35 of Texas, Inc.                |  |            |  |       
| |  | Jurisdiction: |  | Texas, incorporated on March 14, 2006    |  |            |  |       
| |  | Shareholders: |  | WAMCO 30, Ltd.                           |  | 400 Shares |  | (100%)
| |  | Name:         |  | SOWAMCO 80 of Texas, Inc.                |  |            |  |       
| |  | Jurisdiction: |  | Texas, incorporated on June 1, 2006      |  |            |  |       
| |  | Shareholders: |  | WAMCO 80, Ltd.                           |  | 400 Shares |  | (100%)

8

---



|   |  | Name:                               |  | FirstVal Properties 1 GP Corp.                                       |  |              |  |       
|-- |  | ----------------------------------- |  | -------------------------------------------------------------------- |  | ------------ |  | ------
|   |  | Jurisdiction:                       |  | Texas, incorporated on September 15, 2006                            |  |              |  |       
|   |  | Shareholders:                       |  | FirstVal 1, Ltd.                                                     |  | 400 Shares   |  | (100%)
|   |  | Name:                               |  | MCSFC Realty GP Corp.                                                |  |              |  |       
|   |  | Jurisdiction:                       |  | Texas, incorporated on September 19, 2000                            |  |              |  |       
|   |  | Shareholders:                       |  | FH Partners LLC                                                      |  | 1,000 Shares |  | (100%)
|   |  | Name:                               |  | WH Realty GP Corp.                                                   |  |              |  |       
|   |  | Jurisdiction:                       |  | Texas, incorporated on June 20, 2001                                 |  |              |  |       
|   |  | Shareholders:                       |  | FCS Wildhorse, Ltd.                                                  |  | 1,000 Shares |  | (100%)
|E. |  | REO Affiliate Limited Partnerships: |  |                                                                     
|   |  | Name:                               |  | SOWAMCO XX, Ltd.                                                     |  |              |  |       
|   |  | Jurisdiction:                       |  | Texas                                                                |  |              |  |       
|   |  | Partners:                           |  | SOWAMCO XX of Texas, Inc.                                            |  | General      |  | 2%    
|   |  |                                     |  | WAMCO XX, Ltd.                                                       |  | Limited      |  | 98%   
|   |  | Name:                               |  | SOWAMCO XXIV, Ltd.                                                   |  |              |  |       
|   |  | Jurisdiction:                       |  | Texas, filed Certificate of Limited Partnership on December 15, 1993 |  |              |  |       
|   |  | Partners:                           |  | SOWAMCO XXIV of Texas, Inc.                                          |  | General      |  | 2%    
|   |  |                                     |  | WAMCO XXIV, Ltd.                                                     |  | Limited      |  | 98%   
|   |  | Name:                               |  | FH Properties, L.P.                                                  |  |              |  |       
|   |  | Jurisdiction:                       |  | Texas, certificate filed on November 19, 1997                        |  |              |  |       
|   |  | Partners:                           |  | FH Properties of Texas, Inc.                                         |  | General      |  | 2%    
|   |  |                                     |  | FH Partners LLC                                                      |  | Limited      |  | 98%   
|   |  | Name:                               |  | MA Realco Partners, Ltd.                                             |  |              |  |       
|   |  | Jurisdiction:                       |  | Texas, certificate filed on July 25, 1995                            |  |              |  |       
|   |  | Partners:                           |  | MA Realco, Inc.                                                      |  | General      |  | 2%    
|   |  |                                     |  | SV Asset Partners, LP                                                |  | Limited      |  | 98%   
|   |  | Name:                               |  | Paloma Realty, Ltd.                                                  |  |              |  |       
|   |  | Jurisdiction:                       |  | Texas, certificate filed on November 26, 1996                        |  |              |  |       
|   |  | Partners:                           |  | Paloma Asset Corp.                                                   |  | General      |  | 2%    
|   |  |                                     |  | WAMCO 30 Ltd.                                                        |  | Limited      |  | 98%   
|   |  | Name:                               |  | SV Asset Partners, LP                                                |  |              |  |       
|   |  | Jurisdiction:                       |  | Texas, certificate filed on July 25, 1995                            |  |              |  |       
|   |  | Partners:                           |  | SV Asset Corp.                                                       |  | General      |  | 2%    
|   |  |                                     |  | FirstCity Commercial Corporation                                     |  | Limited      |  | 98%   
|   |  | Name:                               |  | SVD Realty, L.P.                                                     |  |              |  |       
|   |  | Jurisdiction:                       |  | Texas, certificate filed on June 6, 1997                             |  |              |  |       
|   |  | Partners:                           |  | SVD Realty Asset Corp.                                               |  | General      |  | 2%    
|   |  |                                     |  | FirstCity Commercial Corporation                                     |  | Limited      |  | 98%   
|   |  | Name:                               |  | EuroTex Partners, Ltd.                                               |  |              |  |       
|   |  | Jurisdiction:                       |  | Texas, certificate filed on June 18, 2004                            |  |              |  |       
|   |  | Partners:                           |  | EuroTex Partners GP Corp.                                            |  | General      |  | 0.50% 
|   |  |                                     |  | FirstCity Commercial Corporation                                     |  | Limited      |  | 99.50%

9

---



| |  | Name:         |  | Brazos River Partnership One, L.P.                                   |  |         |  |       
| |  | ------------- |  | -------------------------------------------------------------------- |  | ------- |  | ------
| |  | Jurisdiction: |  | Texas: formed on September 28, 2006                                  |  |         |  |       
| |  | Partners:     |  | FirstCity Commercial Corporation                                     |  | Limited |  | 331/3%
| |  | Name:         |  | SOWAMCO XXV, Ltd.                                                    |  |         |  |       
| |  | Jurisdiction: |  | Texas, filed Certificate of Limited Partnership on May 26, 1995      |  |         |  |       
| |  | Partners:     |  | SOWAMCO XXV of Texas, Inc.                                           |  | General |  | 2%    
| |  |               |  | WAMCO 30, Ltd.                                                       |  | Limited |  | 98%   
| |  | Name:         |  | SOWAMCO XXVII, Ltd.                                                  |  |         |  |       
| |  | Jurisdiction: |  | Texas, filed Certificate of Limited Partnership on January 18, 2000  |  |         |  |       
| |  | Partners:     |  | SOWAMCO XXVII of Texas, Inc.                                         |  | General |  | 1%    
| |  |               |  | WAMCO XXVII, Ltd.                                                    |  | Limited |  | 99%   
| |  | Name:         |  | SOWAMCO XXVIII, Ltd.                                                 |  |         |  |       
| |  | Jurisdiction: |  | Texas, filed Certificate of Limited Partnership on March 24, 2000    |  |         |  |       
| |  | Partners:     |  | SOWAMCO XXVIII of Texas, Inc.                                        |  | General |  | 1%    
| |  |               |  | WAMCO 30, Ltd.                                                       |  | Limited |  | 99%   
| |  | Name:         |  | SOWAMCO XXIX, Ltd.                                                   |  |         |  |       
| |  | Jurisdiction: |  | Texas, filed Certificate of Limited Partnership on December 11, 2000 |  |         |  |       
| |  | Partners:     |  | SOWAMCO XXIX of Texas, Inc.                                          |  | General |  | 1%    
| |  |               |  | WAMCO XXVII, Ltd.                                                    |  | Limited |  | 99%   
| |  | Name:         |  | SOWAMCO XXX, Ltd.                                                    |  |         |  |       
| |  | Jurisdiction: |  | Texas, filed Certificate of Limited Partnership on May 30, 2002      |  |         |  |       
| |  | Partners:     |  | SOWAMCO XXX of Texas, Inc.                                           |  | General |  | 1%    
| |  |               |  | WAMCO 30, Ltd.                                                       |  | Limited |  | 99%   
| |  | Name:         |  | SOWAMCO 31, Ltd.                                                     |  |         |  |       
| |  | Jurisdiction: |  | Texas, filed Certificate of Limited Partnership on August 20, 2003   |  |         |  |       
| |  | Partners:     |  | SOWAMCO 31 of Texas, Inc.                                            |  | General |  | 1%    
| |  |               |  | WAMCO 30, Ltd.                                                       |  | Limited |  | 99%   
| |  | Name:         |  | SOWAMCO 33, Ltd.                                                     |  |         |  |       
| |  | Jurisdiction: |  | Texas, filed Certificate of Limited Partnership on December 10, 2003 |  |         |  |       
| |  | Partners:     |  | SOWAMCO 33 of Texas, Inc.                                            |  | General |  | 1%    
| |  |               |  | WAMCO 30, Ltd.                                                       |  | Limited |  | 99%   
| |  | Name:         |  | SOWAMCO 34, Ltd.                                                     |  |         |  |       
| |  | Jurisdiction: |  | Texas, filed Certificate of Limited Partnership on March 21, 2005    |  |         |  |       
| |  | Partners:     |  | SOWAMCO 34 of Texas, Inc.                                            |  | General |  | 1%    
| |  |               |  | WAMCO 30, Ltd.                                                       |  | Limited |  | 99%   

10

---



|   |  | Name:                       |  | SOWAMCO 35, Ltd.                                                      |  |              |  |      
|-- |  | --------------------------- |  | --------------------------------------------------------------------- |  | ------------ |  | -----
|   |  | Jurisdiction:               |  | Texas, filed Certificate of Limited Partnership on March 14, 2006     |  |              |  |      
|   |  | Partners:                   |  | SOWAMCO 35 of Texas, Inc.                                             |  | General      |  | 1%   
|   |  |                             |  | WAMCO 30, Ltd.                                                        |  | Limited      |  | 99%  
|   |  | Name:                       |  | SOWAMCO 80, Ltd.                                                      |  |              |  |      
|   |  | Jurisdiction:               |  | Texas, filed Certificate of Limited Partnership on June 1, 2006       |  |              |  |      
|   |  | Partners:                   |  | SOWAMCO 80 of Texas, Inc.                                             |  | General      |  | 1%   
|   |  |                             |  | WAMCO 80, Ltd.                                                        |  | Limited      |  | 99%  
|   |  | Name:                       |  | FirstVal Properties 1, Ltd.                                           |  |              |  |      
|   |  | Jurisdiction:               |  | Texas, filed Certificate of Limited Partnership on September 15, 2006 |  |              |  |      
|   |  | Partners:                   |  | FirstVal Properties 1 GP Corp.                                        |  | General      |  | 1%   
|   |  |                             |  | FirstVal 1, Ltd.                                                      |  | Limited      |  | 99%  
|   |  | Name:                       |  | MCSFC Realty, Ltd.                                                    |  |              |  |      
|   |  | Jurisdiction:               |  | Texas, certificate filed on September 19, 2000                        |  |              |  |      
|   |  | Partners:                   |  | MCSFC Realty GP corp.                                                 |  | General      |  | 0.5% 
|   |  |                             |  | FH Partners LLC                                                       |  | Limited      |  | 99.5%
|   |  | Name:                       |  | WH Realty, Ltd.                                                       |  |              |  |      
|   |  | Jurisdiction:               |  | Texas, certificate filed on June 20, 2001                             |  |              |  |      
|   |  | Partners:                   |  | WH Realty GP corp.                                                    |  | General      |  | 0.5% 
|   |  |                             |  | FCS Wildhorse, Ltd.                                                   |  | Limited      |  | 99.5%
|F. |  | REO Affiliate Corporations: |  |                                                                      
|   |  | Name:                       |  | FH Golf Properties I Inc.                                             |  |              |  |      
|   |  | Jurisdiction:               |  | Michigan; formed on February 15, 2008                                 |  |              |  |      
|   |  | Shareholder:                |  | FH Partners LLC                                                       |  | 1,000 Shares |  | 100% 

|A. |  | Corporations and other Entities: |  |                                    
|-- |  | -------------------------------- |  | -----------------------------------
|   |  | Name:                            |  | P.R.L. Developpement, S.A.S.       
|   |  | Jurisdiction:                    |  | France                             
|   |  | Ownership:                       |  | FirstCity Europe Corporation       
|   |  | Name:                            |  | UBN, Societe Anonyme               
|   |  | Jurisdiction:                    |  | France                             
|   |  | Ownership:                       |  | P.R.L. Developpement, S.A.S.       
|   |  | Name:                            |  | SAI, Societe Auxiliaire Immobiliere
|   |  | Jurisdiction                     |  | France                             
|   |  | Shareholder:                     |  | FirstCity Europe Corporation       
|   |  | Name:                            |  | HMCS Investment GmbH               
|   |  | Jurisdiction:                    |  | Germany                            
|   |  | Ownership:                       |  | MCS et Associes, S.A.              
|   |  |                                  |  | FirstCity Europe Corporation       

11

---



| |  | Name:         |  | HMCS Portfolio GmbH          |  |  |  |     
| |  | ------------- |  | ---------------------------- |  |  |  | ----
| |  | Jurisdiction: |  | Germany; formed August, 2006 |  |  |  |     
| |  | Ownership:    |  | HMCS Investment GmbH         |  |  |  | 100%

| |  | Name:             |  | Strategic Mexican Investment Partners, L.P.  |  |         |  |            
| |  | ----------------- |  | -------------------------------------------- |  | ------- |  | -----------
| |  | Jurisdiction:     |  | Texas, certificate filed on May 8, 2001      |  |         |  |            
| |  | Partners:         |  | FirstCity Mexico, Inc.                       |  | General |  | .4251287%  
| |  |                   |  | FirstCity Commercial Corporation             |  | Limited |  | 99.5748713%
| |  | Name:             |  | Bidmex Holding, LLC                          |  |         |  |            
| |  | Jurisdiction:     |  | Delaware, formed June 6, 2006                |  |         |  |            
| |  | Manager:          |  | FirstCity Mexico, Inc.                       |  |         |  |            
| |  | Member:           |  | Strategic Mexican Investment Partners, L.P.  |  |         |  |            
| |  |                   |  | (Tranche B)                                  |  |         |  | 9.0%       
| |  |                   |  | Strategic Mexican Investment Partners, L.P.  |  |         |  |            
| |  |                   |  | (Tranche C)                                  |  |         |  | 6.0%       
| |  | Name:             |  | Bidmex Holding II, LLC                       |  |         |  |            
| |  | Jurisdiction:     |  | Delaware, formed on January 16, 2008         |  |         |  |            
| |  | Manager:          |  | FirstCity Mexico, Inc.                       |  |         |  |            
| |  | Member:           |  | Strategic Mexican Investment Partners, L.P. |  |         |  |            
| |  |                   |  | Tranche B                                    |  |         |  | 15.0%      
| |  | Name:             |  | Bidmex Acquisition, LLC                      |  |         |  |            
| |  | Jurisdiction:     |  | Delaware, formed June 6, 2006                |  |         |  |            
| |  | Manager & Member: |  | Bidmex Holding LLC                           |  |         |  | 100%       
| |  | Name:             |  | Resmex, LLC                                  |  |         |  |            
| |  | Jurisdiction:     |  | Delaware, incorporated December 11, 1998     |  |         |  |            
| |  | Manager:          |  | FirstCity Mexico, Inc.                       |  |         |  |            
| |  | Member:           |  | Strategic Mexican Investment Partners, L.P.  |  |         |  | 19.45%     
| |  | Name:             |  | Residencial Oeste, S.A. de C.V.              |  |         |  |            
| |  | Jurisdiction:     |  | Mexico, incorporated December 16, 1998       |  |         |  |            
| |  | Shareholder:      |  | Resmex, LLC                                  |  |         |  | (100%)     
| |  | Name:             |  | Residencial Oeste 2, S. de R.L. de C.V.      |  |         |  |            
| |  | Jurisdiction:     |  | Mexico, incorporated July 25, 2006           |  |         |  |            
| |  | Shareholder:      |  | Bidmex Acquisition, LLC                      |  |         |  | (100%)     
| |  | Name:             |  | Namex, LLC                                   |  |         |  |            
| |  | Jurisdiction:     |  | Delaware, formed December 10, 1999           |  |         |  |            
| |  | Manager:          |  | FirstCity Mexico, Inc.                       |  |         |  |            
| |  | Member:           |  | Bidmex Holding, LLC                          |  |         |  | (100%)     

12

---



| |  | Name:         |  | Cartera en Administracion y Cobranza, S.A. de C.V.                 |  |  |  |       
| |  | ------------- |  | ------------------------------------------------------------------ |  |  |  | ------
| |  | Jurisdiction: |  | Mexico, incorporated December 13, 1999                             |  |  |  |       
| |  | Shareholder:  |  | Namex, LLC                                                         |  |  |  | (100%)
| |  | Name:         |  | BIDMEX, LLC                                                        |  |  |  |       
| |  | Jurisdiction: |  | Delaware, formed January 28, 2000                                  |  |  |  |       
| |  | Manager:      |  | FirstCity Mexico, Inc.                                             |  |  |  |       
| |  | Member:       |  | Bidmex Holding, LLC                                                |  |  |  | (100%)
| |  | Name:         |  | Administracion de Carteras Nacionales, S.A. de C.V.                |  |  |  |       
| |  | Jurisdiction: |  | Mexico, incorporated January, 2000                                 |  |  |  |       
| |  | Shareholder:  |  | BIDMEX, LLC                                                        |  |  |  | (100%)
| |  | Name:         |  | BIDMEX II, LLC                                                     |  |  |  |       
| |  | Jurisdiction: |  | Delaware, formed on May 9, 2000                                    |  |  |  |       
| |  | Manager:      |  | FirstCity Mexico, Inc.                                             |  |  |  |       
| |  | Member:       |  | Bidmex Holding, LLC                                                |  |  |  | (100%)
| |  | Name:         |  | Administraction de Carteras Nacionales II, S. de R.L. de C.V.      |  |  |  |       
| |  |               |  | (formerly Ome Calpulli, Resolución de Cartera, S. de R.L. de C.V.) |  |  |  |       
| |  | Jurisdiction: |  | Mexico, incorporated on November 17, 1999                          |  |  |  |       
| |  | Shareholder:  |  | BIDMEX II, LLC                                                     |  |  |  | (100%)
| |  | Name:         |  | BIDMEX 3, LLC                                                      |  |  |  |       
| |  | Jurisdiction: |  | Delaware, formed on October 20, 2000                               |  |  |  |       
| |  | Manager:      |  | FirstCity Mexico, Inc.                                             |  |  |  |       
| |  | Member:       |  | Bidmex Holding, LLC                                                |  |  |  | (100%)
| |  | Name:         |  | Administraction de Carteras Empresariales, S. de R.L. de C.V.      |  |  |  |       
| |  | Jurisdiction: |  | Mexico, formed on November 13, 2000                                |  |  |  |       
| |  | Shareholder:  |  | BIDMEX 3, LLC                                                      |  |  |  | (100%)
| |  | Name:         |  | BIDMEX 4, LLC                                                      |  |  |  |       
| |  | Jurisdiction: |  | Delaware, formed on March 12, 2001                                 |  |  |  |       
| |  | Manager:      |  | FirstCity Mexico, Inc.                                             |  |  |  |       
| |  | Member:       |  | Bidmex Holding, LLC                                                |  |  |  | (100%)
| |  | Name:         |  | Cobranza Nacional de Carteras, S. de R.L. de C.V.                  |  |  |  |       
| |  | Jurisdiction: |  | Mexico, formed on March 16, 2001                                   |  |  |  |       
| |  | Shareholder:  |  | BIDMEX 4, LLC                                                      |  |  |  | (100%)
| |  | Name:         |  | BIDMEX 5, LLC                                                      |  |  |  |       
| |  | Jurisdiction: |  | Delaware, formed on April 30, 2001                                 |  |  |  |       
| |  | Manager:      |  | FirstCity Mexico, Inc.                                             |  |  |  |       
| |  | Member:       |  | Bidmex Holding, LLC                                                |  |  |  | (100%)

13

---



| |  | Name:               |  | Cobranza Internacional de Carteras, S. de R.L. de C.V. |  |  |  |        
| |  | ------------------- |  | ------------------------------------------------------ |  |  |  | -------
| |  | Jurisdiction:       |  | Mexico, formed on May 15, 2001                         |  |  |  |        
| |  | Shareholder:        |  | BIDMEX 5, LLC                                          |  |  |  | (100%) 
| |  | Name:               |  | BIDMEX 6, LLC                                          |  |  |  |        
| |  | Jurisdiction:       |  | Delaware, formed on May 31, 2001                       |  |  |  |        
| |  | Manager and Member: |  | FirstCity Mexico, Inc.                                 |  |  |  | 12.564%
| |  | Member:             |  | Strategic Mexican Investment Partners 2, L.P.          |  |  |  | 10.000%
| |  | Name:               |  | Recuperacion de Carteras Mexicanas, S. de R.L. de C.V. |  |  |  |        
| |  | Jurisdiction:       |  | Mexico, formed on June 21, 2001                        |  |  |  |        
| |  | Shareholder:        |  | BIDMEX 6, LLC                                          |  |  |  | 100%   
| |  | Name:               |  | BIDMEX 7, LLC                                          |  |  |  |        
| |  | Jurisdiction:       |  | Delaware, formed on May 31, 2001                       |  |  |  |        
| |  | Manager:            |  | FirstCity Mexico, Inc.                                 |  |  |  |        
| |  | Member:             |  | Bidmex Holding, LLC                                    |  |  |  | 100%   
| |  | Name:               |  | Integracion de Activos Mexicanos, S. de R.L. de C.V.   |  |  |  |        
| |  | Jurisdiction:       |  | Mexico, formed on March 11, 2002                       |  |  |  |        
| |  | Shareholder:        |  | BIDMEX 7, LLC                                          |  |  |  | 100%   
| |  | Name:               |  | BIDMEX 8, LLC                                          |  |  |  |        
| |  | Jurisdiction:       |  | Delaware, formed on May 31, 2001                       |  |  |  |        
| |  | Manager:            |  | FirstCity Mexico, Inc.                                 |  |  |  |        
| |  | Member:             |  | Bidmex Holding, LLC                                    |  |  |  | 100%   
| |  | Name:               |  | Recuperacion de Activos Mexicanos, S. de R.L. de C.V.  |  |  |  |        
| |  | Jurisdiction:       |  | Mexico, formed on March 11, 2002                       |  |  |  |        
| |  | Shareholder:        |  | BIDMEX 8, LLC                                          |  |  |  | 100%   
| |  | Name:               |  | BIDMEX 9, LLC                                          |  |  |  |        
| |  | Jurisdiction:       |  | Delaware, formed on January 7, 2003                    |  |  |  |        
| |  | Manager:            |  | FirstCity Mexico, Inc.                                 |  |  |  |        
| |  | Member:             |  | Bidmex Holding, LLC                                    |  |  |  | 100%   
| |  | Name:               |  | Solucion de Activos Residenciales, S. de R.L. de C.V.  |  |  |  |        
| |  | Jurisdiction:       |  | Mexico, formed on April 16, 2004                       |  |  |  |        
| |  | Shareholder:        |  | BIDMEX 9, LLC                                          |  |  |  | 100%   
| |  | Name:               |  | BIDMEX 10, LLC                                         |  |  |  |        
| |  | Jurisdiction:       |  | Delaware, formed on July 8, 2004                       |  |  |  |        
| |  | Manager:            |  | FirstCity Mexico, Inc.                                 |  |  |  |        
| |  | Member:             |  | Bidmex Holding, LLC                                    |  |  |  | 100%   
| |  | Name:               |  | Solucion de Activos Comerciales, S. de R.L. de C.V.    |  |  |  |        
| |  | Jurisdiction:       |  | Mexico, formed on July 15, 2004                        |  |  |  |        
| |  | Shareholder:        |  | BIDMEX 10, LLC                                         |  |  |  | 100%   

14

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| |  | Name:         |  | BIDMEX XI, LLC                                                 |  |  |  |       
| |  | ------------- |  | -------------------------------------------------------------- |  |  |  | ------
| |  | Jurisdiction: |  | Delaware, formed on July 7, 2004                               |  |  |  |       
| |  | Manager:      |  | FirstCity Mexico, Inc.                                         |  |  |  |       
| |  | Member:       |  | Bidmex Holding, LLC                                            |  |  |  | 100%  
| |  | Name:         |  | Solucion de Creditos Comerciales, S. de R.L. de C.V.           |  |  |  |       
| |  | Jurisdiction: |  | Mexico, formed on March 28, 2005                               |  |  |  |       
| |  | Shareholder:  |  | BIDMEX XI, LLC                                                 |  |  |  | 100%  
| |  | Name:         |  | BMX Holding II, LLC                                            |  |  |  |       
| |  | Jurisdiction: |  | Delaware; formed March 23, 2007                                |  |  |  |       
| |  | Manager:      |  | FirstCity Mexico, Inc.                                         |  |  |  |       
| |  | Member:       |  | FirstCity Mexico, Inc.                                         |  |  |  | 8.0%  
| |  | Name:         |  | Recuperaction de Comerico Interior S.de R.L. de C.V.           |  |  |  |       
| |  | Jurisdiction: |  | Mexico                                                         |  |  |  |       
| |  | Shareholders: |  | BMX Holding II, LLC                                            |  |  |  | 98.7% 
| |  |               |  | FirstCity Mexico, Inc.                                         |  |  |  | 1.0%  
| |  |               |  | FirstCity Mexico S.A. de C.V.                                  |  |  |  | 0.3%  
| |  | Name:         |  | Recuperacion y Administracion de Hipotecas, S. de R.L. de C.V. |  |  |  |       
| |  | Jurisdiction: |  | Mexico, formed on June 15, 2007                                |  |  |  |       
| |  | Shareholders: |  | FirstCity Mexico, Inc.                                         |  |  |  | 100%  
| |  | Name:         |  | Soluciones de Adevdos de Consumo, S. de R.L. de C.V.           |  |  |  |       
| |  | Jurisdiction: |  | Mexico, formed on June 15, 2007                                |  |  |  |       
| |  | Shareholders: |  | FirstCity Mexico, Inc.                                         |  |  |  | 100%  
| |  | Name:         |  | FC Acquisitions S. de R.L. de C.V.                             |  |  |  |       
| |  | Jurisdiction: |  | Mexico, formed October 23, 2007                                |  |  |  |       
| |  | Shareholders: |  | FirstCity Mexico, Inc.                                         |  |  |  | 100%  
| |  | Name:         |  | FC Acquisitions I S. de R.L. de C.V.                           |  |  |  |       
| |  | Jurisdiction: |  | Mexico, formed October 23, 2007                                |  |  |  |       
| |  | Shareholders: |  | FirstCity Mexico, Inc.                                         |  |  |  | 100%  
| |  | Name:         |  | FC Portfolio de Recuperacion S. de R.L. de C.V.                |  |  |  |       
| |  | Jurisdiction: |  | Mexico, formed October 29, 2007                                |  |  |  |       
| |  | Shareholders: |  | FirstCity Mexico, Inc.                                         |  |  |  |       
| |  | Name:         |  | FC Portfolio de Recuperacion I, S. de R.L. de C.V.             |  |  |  |       
| |  | Jurisdiction: |  | Mexico, formed October 29, 2007                                |  |  |  |       
| |  | Shareholders: |  | FirstCity Mexico, Inc.                                         |  |  |  |       
| |  | Ñame:         |  | El Consorcio Recovery FirstCity BNV, S.A.                      |  |  |  |       
| |  | Jursidiction: |  | Uruguay                                                        |  |  |  |       
| |  | Shareholder:  |  | FirstCity Mexico, Inc.                                         |  |  |  | 15.35%

15

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| |  | Name:         |  | FirstCity NPL S.A.                                             |  |  |  |       
| |  | ------------- |  | -------------------------------------------------------------- |  |  |  | ------
| |  | Jurisdiction: |  | Chile, formed on February 9, 2006                              |  |  |  |       
| |  | Shareholder:  |  | FirstCity Chile, Limitada                                      |  |  |  | 60%   
| |  | Name:         |  | NPL Fund One, Private Investment Fund                          |  |  |  |       
| |  | Jurisdiction: |  | Chile                                                          |  |  |  |       
| |  | Manager:      |  | FirstCity NPL, S.A.                                            |  |  |  |       
| |  | Quotaholder:  |  | NPL Investments, S.A.                                          |  |  |  | 100%  
| |  | Name:         |  | Servicios Integrales de Cobranza, S.A.                         |  |  |  |       
| |  | Jurisdiction: |  | Chile                                                          |  |  |  |       
| |  | Shareholder:  |  | FirstCity Chile, Limitada                                      |  |  |  | 50%   
| |  | Name:         |  | NPL Investments, S.A. (formerly Inversiones Hipotecarias S.A.) |  |  |  |       
| |  | Jurisdiction: |  | Chile, formed on February 17, 2006                             |  |  |  |       
| |  | Shareholder:  |  | Servicios Integrales de Cobranza, S.A.                         |  |  |  | 100%  
| |  | Name:         |  | Inversiones Crediticias S.A.                                   |  |  |  |       
| |  | Jurisdiction: |  | Chile, formed on February 17, 2006                             |  |  |  |       
| |  | Shareholder:  |  | FirstCity Chile, Limitada                                      |  |  |  | 50%   
| |  | Name:         |  | Santiago Asset Acquisition Company One, S.A.                   |  |  |  |       
| |  | Jurisdiction: |  | Chile                                                          |  |  |  |       
| |  | Shareholders: |  | FirstCity Chile, Limitada                                      |  |  |  | 331/3%
| |  |               |  | Servicios Integrales de Cobranza, S.A.                         |  |  |  | 331/3%

|A. |  | Corporations and other Entities: |  |                                               
|-- |  | -------------------------------- |  | ----------------------------------------------
|   |  | Name:                            |  | UHR Limited                                   
|   |  | Jurisdiction:                    |  | England and Wales; incorporated March 15, 1999
|   |  | Shareholders:                    |  | FirstCity International Corporation           
|   |  |                                  |  | MCS et Associés, S.A.                         
|   |  | Name:                            |  | NEVVS Limited                                 
|   |  | Jurisdiction:                    |  | England and Wales; November 27, 2000          
|   |  | Shareholders:                    |  | FirstCity International Corporation           
|   |  |                                  |  | MCS et Associés, SA                           
|   |  | Name:                            |  | WHBE Limited                                  
|   |  | Jurisdiction:                    |  | England and Wales; December 13, 2001          
|   |  | Shareholders:                    |  | FirstCity International Corporation           
|   |  |                                  |  | MCS et Associés, SA                           

16

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| |  | Name:         |  | WOX Limited                           |  |              |  |        
| |  | ------------- |  | ------------------------------------- |  | ------------ |  | -------
| |  | Jurisdiction: |  | England and Wales; May 27, 2002       |  |              |  |        
| |  | Shareholders: |  | FirstCity International Corporation   |  | 200 C Shares |  | (20%)  
| |  |               |  | MCS et Associés, SA                   |  | 250 B Shares |  | (25%)  
| |  | Name:         |  | CRY Limited                           |  |              |  |        
| |  | Jurisdiction: |  | England and Wales; July 30, 2002      |  |              |  |        
| |  | Shareholders: |  | FirstCity International Corporation   |  | 200 B Shares |  | (20%)  
| |  |               |  | MCS et Associés, SA                   |  | 200 C Shares |  | (20%)  
| |  | Name:         |  | CTY Limited                           |  |              |  |        
| |  | Jurisdiction: |  | England and Wales; December 18, 2002  |  |              |  |        
| |  | Shareholders: |  | FirstCity International Corporation   |  | 200 B Shares |  | (20%)  
| |  |               |  | MCS et Associés, SA                   |  | 250 C Shares |  | (25%)  
| |  | Name:         |  | WOL Limited                           |  |              |  |        
| |  | Jurisdiction: |  | England and Wales; June 11, 2003      |  |              |  |        
| |  | Shareholders: |  | FirstCity International Corporation   |  | 225 C Shares |  | (22.5%)
| |  |               |  | MCS et Associés, SA                   |  | 225 B Shares |  | (22.5%)
| |  | Name:         |  | WOD Limited                           |  |              |  |        
| |  | Jurisdiction: |  | England and Wales; November 12, 2003  |  |              |  |        
| |  | Shareholders: |  | FirstCity International Corporation   |  | 225 C Shares |  | (22.5%)
| |  |               |  | MCS et Associés, SA                   |  | 225 B Shares |  | (22.5%)
| |  | Name:         |  | FG Portfolio Limited                  |  |              |  |        
| |  | Jurisdiction: |  | England and Wales; June 8, 2004       |  |              |  |        
| |  | Shareholders: |  | FirstCity International Corporation   |  | 225 C Shares |  | (22.5%)
| |  |               |  | MCS et Associés, SA                   |  | 225 B Shares |  | (22.5%)
| |  | Name:         |  | HMCS-ECK Limited                      |  |              |  |        
| |  | Jurisdiction: |  | England and Wales; October 27, 2005   |  |              |  |        
| |  | Shareholders: |  | FirstCity International Corporation   |  | 320 C Shares |  | (32%)  
| |  |               |  | MCS et Associés, SA                   |  | 320 B Shares |  | (32%)  
| |  |               |  | HMCS Investment GmbH                  |  | 40 D Shares  |  | (4%)   
| |  | Name:         |  | HMCS-SIG Limited                      |  |              |  |        
| |  | Jurisdiction: |  | England and Wales; December 14, 2005  |  |              |  |        
| |  | Shareholders: |  | FirstCity International Corporation   |  | 300 C Shares |  | (30%)  
| |  |               |  | MCS et Associés, SA                   |  | 200 B Shares |  | (20%)  
| |  |               |  | HMCS Investment GmbH                  |  | 10 D Shares  |  | (1%)   
| |  | Name:         |  | EHCTY Limited                         |  |              |  |        
| |  | Jurisdiction: |  | England and Wales; September 20, 2006 |  |              |  |        
| |  | Shareholders: |  | FirstCity International Corporation   |  | 330 B Shares |  | (33%)  
| |  |               |  | MCS et Associés, SA                   |  | 330 C Shares |  | (33%)  
| |  |               |  | HMCS Investment GmbH                  |  | 10 D Shares  |  | (1%)   
| |  | Name:         |  | HMCS-GEN Limited                      |  |              |  |        
| |  | Jurisdiction: |  | England and Wales; October 16, 2006   |  |              |  |        
| |  | Shareholders: |  | FirstCity International Corporation   |  | 300 B Shares |  | (30%)  
| |  |               |  | MCS et Associés, SA                   |  | 200 C Shares |  | (20%)  

17

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| |  | Name:         |  | CVI GVF (Lux) Securitisation S.a.r.l.; Compartment "Sprockhovel"      |  |                 |  |      
| |  | ------------- |  | --------------------------------------------------------------------- |  | --------------- |  | -----
| |  | Jurisdiction: |  | Luxembourg; formed on September 6, 2006                               |  |                 |  |      
| |  | Owners:       |  | FirstCity International Corporation                                   |  | 879,600 PECs    |  | (30%)
| |  |               |  | MCS et Associés, SA                                                   |  | 879,600 PECs    |  | (30%)
| |  |               |  | HMCS Portfolio GmbH                                                   |  | 293,200 PECs    |  | (10%)
| |  | Name:         |  | CVI GVF (Lux) Securitisation S.à.r.l.; Compartment "Marktheidenfeld"  |  |                 |  |      
| |  | Jurisdiction: |  | Luxembourg; formed on 9-06-06; Compartment June 15, 2007              |  |                 |  |      
| |  | Owners:       |  | FirstCity International Corporation                                   |  | 546,300 PEC's   |  | (30%)
| |  |               |  | MCS et Associés, SA                                                   |  | 546,300 PEC's   |  | (30%)
| |  |               |  | HMCS Portfolio GmbH                                                   |  | 182,100 PEC's   |  | (10%)
| |  | Name:         |  | CVI GVF (Lux) Securitisation, S.à.r.l.; Compartment "Voreifel"        |  |                 |  |      
| |  | Jurisdiction: |  | Luxembourg; formed on September 6, 2006; Compartment November 6, 2007 |  |                 |  |      
| |  | Owners:       |  | FirstCity International Corporation                                   |  | 1,911,870 PEC's |  | (30%)
| |  |               |  | MCS et Associes, SA                                                   |  | 1,911,870 PEC's |  | (30%)
| |  |               |  | HMCS Portfolio GmbH                                                   |  | 637,290 PEC's   |  | (10%)
| |  | Name:         |  | HMCS-Rhon Limited                                                     |  |                 |  |      
| |  | Jurisdiction: |  | England and Wales: December 17, 2007                                  |  |                 |  |      
| |  | Shareholders: |  | FirstCity International Corporation                                   |  | 450 A Shares    |  | 45%  
| |  |               |  | MCS et Associes, S.A.                                                 |  | 450 B Shares    |  | 45%  
| |  |               |  | HMCS Portfolio GmbH                                                   |  | 100 C Shares    |  | 10%  

|A. |  | Corporations: |  |                                                                                 
|-- |  | ------------- |  | --------------------------------------------------------------------------------
|   |  | Name:         |  | FirstCity Mexico, S.A. de C.V. (formerly Asset Servicing de Mexico S.A. de C.V.)
|   |  | Jurisdiction: |  | Mexico, incorporated December 2, 1998                                           
|   |  | Shareholders: |  | FirstCity Servicing Corporation                                                 
|   |  |               |  | FirstCity Financial Corporation                                                 
|   |  | Name:         |  | MCS et Associés, S.A.                                                           
|   |  | Jurisdiction: |  | France, Societe Anonyme                                                         
|   |  | Shareholders: |  | FirstCity Servicing Corporation                                                 
|   |  |               |  | James T. Sartain                                                                
|   |  | Name:         |  | Compagnie Transatlantique de Portefeuilles                                      
|   |  | Jurisdiction: |  | France, Societe Par Actions Simplifiee, July 22, 1997                           
|   |  | Shareholder:  |  | MCS et Associes, S.A.                                                           

18

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| |  | Name:         |  | Servicios Efectivos de Recuperaction, S. de R.L. de C.V. |  |               |  |       
| |  | ------------- |  | -------------------------------------------------------- |  | ------------- |  | ------
| |  | Jurisdiction: |  | Mexico; November 16, 2001                                |  |               |  |       
| |  | Shareholders: |  | FirstCity Mexico S.A. de C.V.                            |  | 49,999 Shares |  | (100%)
| |  |               |  | FirstCity Servicing Corporation                          |  | 1 Share       |  |       
| |  | Name:         |  | FirstCity Servicing Corporation of California            |  |               |  |       
| |  |               |  | (formerly and d/b/a Milco Loan Servicing Corporation)    |  |               |  |       
| |  | Jurisdiction: |  | California, incorporated on January 3, 1991              |  |               |  |       
| |  | Shareholder:  |  | FirstCity Servicing Corporation                          |  | 199 Shares    |  | (100%)
| |  | Name:         |  | FirstCity Servicing Corporation of Minnesota             |  |               |  |       
| |  | Jurisdiction: |  | Texas, incorporated on March 11, 2002                    |  |               |  |       
| |  | Shareholder:  |  | FirstCity Servicing Corporation                          |  | 400 Shares    |  | (100%)
| |  | Name:         |  | FirstCity Consumer Servicing Corporation                 |  |               |  |       
| |  | Jurisdiction: |  | Texas, incorporated on August 2, 2003                    |  |               |  |       
| |  | Shareholder:  |  | FirstCity Servicing Corporation                          |  | 400 Shares    |  | (100%)

| |  | Corporations: |  |                                         |  |             
| |  | ------------- |  | --------------------------------------- |  | ------------
| |  | Name:         |  | SL Funding Corporation                  |  |             
| |  | Jurisdiction: |  | Texas, incorporated on October 16, 1996 |  |             
| |  | Shareholder:  |  | FirstCity Consumer Lending Corporation  |  | 1,000 Shares
| |  | Name:         |  | ETAFirst Funding Corporation            |  |             
| |  | Jurisdiction: |  | Texas, incorporated on July 17, 1996    |  |             
| |  | Shareholder:  |  | SL Funding Corporation                  |  | 1,000 Shares

| |  | Name:         |  | FirstCity Capital Home Equity Funding Corp. |  |              |  |       
| |  | ------------- |  | ------------------------------------------- |  | ------------ |  | ------
| |  | Jurisdiction: |  | Delaware, incorporated on June 25, 1998     |  |              |  |       
| |  | Shareholder:  |  | FC Capital Corp.                            |  | 1,000 Shares |  | (100%)
| |  | Name:         |  | Valhalla Holdings Corp.                     |  |              |  |       
| |  | Jurisdiction: |  | Delaware, incorporated on June 25, 1998     |  |              |  |       
| |  | Shareholder:  |  | FC Capital Corp.                            |  | 1,000 Shares |  | (100%)

19

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