##### 



Exhibit 21.1 Subsidiaries of the Registrant FIRSTCITY FINANCIAL CORPORATION (21)Subsidiaries of the Registrant 1.
    
    FirstCity Financial Corporation. The following corporations, limited partnerships,
limited liability companies and other entities are subsidiaries of FirstCity Financial Corporation.A.
    
    Corporations:Name:
    
    Bosque Asset Corp.Jurisdiction:
    
    Texas, incorporated on March 27, 1997Shareholders:
    
    FirstCity Financial Corporation
    
    10,000 Shares
    
    
    (100
    %)Name:
    
    FirstCity Commercial Corporation (formerly J-Hawk Corporation)Jurisdiction:
    
    Texas, incorporated on July 21, 1995Shareholders:
    
    FirstCity Financial Corporation
    
    1,000 Shares
    
    
    (100
    %)Name:
    
    FC Capital Corp. (d/b/a FirstCity Capital Corporation)Jurisdiction:
    
    New York, incorporated on August 4, 1997Shareholders:
    
    FirstCity Financial Corporation
    
    1,000,000 Shares
    
    
    (100
    %)*Discontinued OperationName:
    
    FirstCity Consumer Lending CorporationJurisdiction:
    
    Texas, incorporated on September 5, 1997Shareholders:
    
    FirstCity Financial Corporation
    
    1,000 Shares
    
    
    (100
    %)B.
    
    Corporate General Partners of Limited Partnerships:Name:
    
    Bosque Asset GP Corp. (formerly SLP Assets GP Corp.)Jurisdiction:
    
    Texas, incorporated on April 12, 2001Shareholders:
    
    FirstCity Financial Corporation
    
    400 Shares
    
    
    (100
    %)Name:
    
    Bosque Leasing GP Corp. (formerly Bosque Investment Realty Corp.)Jurisdiction:
    
    Texas, incorporated on June 6, 1997Shareholders:
    
    Bosque Asset Corp.
    
    400 Shares
    
    
    (100
    %)C.
    
    Limited Partnerships:Name:
    
    Bosque Asset Funding, L.P. (formerly SLP Assets, Ltd.)Jurisdiction:
    
    Texas, certificate filed on April 12, 2001Partners:
    
    Bosque Asset GP Corp.
    
    General
    
    
    0.5
    %FirstCity Financial Corporation
    
    Limited
    
    
    99.5
    %Name:
    
    Bosque Leasing, L.P. (formerly Bosque Investment Realty Partners, L.P.)Jurisdiction:
    
    Texas, certificate filed on June 6, 1997Partners:
    
    Bosque Leasing GP Corp.
    
    General
    
    
    2.0
    %Bosque Asset Corp.
    
    Limited
    
    
    98.0
    %2.
    
    FirstCity Commercial Corporation. The following corporations, limited partnerships,
limited liability companies and other subsidiaries of FirstCity Commercial Corporation or its
subsidiaries.A.
    
    Corporations:Name:
    
    Calibat Fund Limited Liability CompanyJurisdiction:
    
    MinnesotaMembers:
    
    FirstCity Commercial Corporation
    
    
    
    
    50
    %
 Page 1




---



##### 



Name:
    
    FirstCity Holdings CorporationJurisdiction:
    
    Texas, incorporated on October 16, 1998Shareholder:
    
    FirstCity Commercial Corporation
    
    800 Shares
    
    
    (80
    %)Name:
    
    FirstCity Holdings Corporation of MinnesotaJurisdiction:
    
    Texas, incorporated on March 11, 2002Shareholder:
    
    FirstCity Holdings Corporation
    
    400 Shares
    
    
    (100
    %)Name:
    
    FirstCity Servicing Corporation (formerly J-Hawk Servicing Corporation)Jurisdiction:
    
    Texas, incorporated on July 25, 1995Shareholder:
    
    FirstCity Holdings Corporation
    
    1,000 Shares
    
    
    (100
    %)Name:
    
    FirstCity International Corporation (formerly J-Hawk International Corp.)Jurisdiction:
    
    Texas; incorporated on December 19, 1996Shareholder:
    
    FirstCity Holdings Corporation
    
    200 Shares
    
    
    (100
    %)Name:
    
    FirstCity Europe CorporationJurisdiction:
    
    Texas; incorporated on May 12, 2003Shareholder:
    
    FirstCity Holdings Corporation
    
    200 Shares
    
    
    (100
    %)Name:
    
    FirstCity Mexico, Inc.Jurisdiction:
    
    Texas, incorporated on December 9, 1998Shareholders:
    
    FirstCity Holdings Corporation
    
    1,000 Shares
    
    
    (100
    %)Name:
    
    Strategic Mexican Lending Partners, L.P.Jurisdiction:
    
    Texas, certificate filed on May 8, 2001Partners:
    
    FirstCity Holdings Corporation
    
    General
    
    
    1.0
    %FirstCity Holdings Corporation
    
    Limited
    
    
    89.0
    %Name:
    
    Strategic Mexican Investment Partners, L.P.Jurisdiction:
    
    Texas, certificate filed on May 8, 2001Partners:
    
    FirstCity Mexico, Inc.
    
    General
    
    
    1.0
    %FirstCity Mexico, Inc.
    
    Limited
    
    
    89.0
    %Name:
    
    Strategic Mexican Lending Partners 2, L.P.Jurisdiction:
    
    Texas, certificate filed on July 3, 2001Partners:
    
    FirstCity Holdings Corporation
    
    General
    
    
    1.0
    %FirstCity Holdings Corporation
    
    Limited
    
    
    89.0
    %Name:
    
    Strategic Mexican Investment Partners 2, L.P.Jurisdiction:
    
    Texas, certificate filed on July 3, 2001Partners:
    
    FirstCity Holdings Corporation
    
    General
    
    
    1.0
    %FirstCity Holdings Corporation
    
    Limited
    
    
    89.0
    %Name:
    
    Resmex, LLCJurisdiction:
    
    Delaware, incorporated December 11, 1998Manager & Member:
    
    FirstCity Mexico, Inc.
    
    
    
    
    11.12
    %Name:
    
    Residencial Oeste, S.A. de C.V.Jurisdiction:
    
    Mexico, incorporated December 16, 1998Shareholders:
    
    Resmex, LLC
    
    112,365 Shares
    
    
    (100
    %)
 Page 2




---



##### 



Name:
    
    Namex, LLCJurisdiction:
    
    Delaware, formed December 10, 1999Manager & Member:
    
    FirstCity Mexico, Inc.
    
    
    
    
    22.22
    %Name:
    
    Cartera en Administracion y Cobranza, S.A. de C.V.Jurisdiction:
    
    Mexico, incorporated December 13, 1999Manager & Member:
    
    Namex, LLC
    
    10,997 shares
    
    
    (90
    %)Name:
    
    BIDMEX, LLCJurisdiction:
    
    Delaware, formed January 28, 2000Manager & Member:
    
    FirstCity Mexico, Inc.
    
    
    
    
    3.21
    %Name:
    
    Administracion de Carteras Nacionales, S.A. de C.V.Jurisdiction:
    
    Mexico, incorporated January 2000Shareholders:
    
    BIDMEX, LLC
    
    
    
    
    99.68
    %Name:
    
    BIDMEX II, LLCJurisdiction:
    
    Delaware, formed on May 9, 2000Manager & Member:
    
    FirstCity Mexico, Inc.
    
    
    
    
    4.12
    %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, 1999Shareholders:
    
    BIDMEX II, LLC
    
    
    
    
    99.6
    %Name:
    
    BIDMEX 3, LLCJurisdiction:
    
    Delaware, formed on October 20, 2000Manager & Member:
    
    FirstCity Mexico, Inc.
    
    
    
    
    10.0215054
    %Name:
    
    Administraction de Carteras Empresariales, S. de R.L. de C.V.Jurisdiction:
    
    Mexico, formed on November 13, 2000Shareholder:
    
    BIDMEX 3, LLC
    
    
    
    
    99.8
    %Name:
    
    BIDMEX 4, LLCJurisdiction:
    
    Delaware, formed on March 12, 2001Manager & Member:
    
    FirstCity Mexico, Inc.
    
    
    
    
    20.0
    %Name:
    
    Cobranza Nacional de Carteras, S. de R.L. de C.V.Jurisdiction:
    
    MexicoShareholder:
    
    BIDMEX 4, LLC
    
    
    
    
    100.0
    %Nominee - 1 Share - Asset Servicing de Mexico, S.A. de C.V.Name:
    
    BIDMEX 5, LLCJurisdiction:
    
    Delaware, formed on April 30, 2001Manager & Member:
    
    FirstCity Mexico, Inc.
    
    
    
    
    20.0
    %Name:
    
    Cobranza Internacional de Carteras, S. de R.L. de C.V.Jurisdiction:
    
    MexicoShareholders:
    
    BIDMEX 5, LLC
    
    
    
    
    100.0
    %Name:
    
    BIDMEX 6, LLCJurisdiction:
    
    Delaware, formed on May 31, 2001Manager:
    
    FirstCity Mexico, Inc.Member
    
    Strategic Mexican Investment Partners 2, L.P.
    
    
    
    
    10.00
    %
 Page 3




---



##### 



Name:
    
    Recuperacion de Carteras Mexicanas, S. de R.L. de C.V.Jurisdiction:
    
    MexicoShareholders:
    
    BIDMEX 6, LLC
    
    
    
    
    100.0
    %Name:
    
    BIDMEX 7, LLCJurisdiction:
    
    Delaware, formed on May 31, 2001Manager:
    
    FirstCity Mexico, Inc.Member:
    
    Strategic Mexican Investment Partners 2, L.P.
    
    
    
    
    35.00
    %Name:
    
    Integracion de Activos Mexicanos, S. de R.L. de C.V.Jurisdiction:
    
    MexicoShareholders:
    
    BIDMEX 7, LLC
    
    
    
    
    100.0
    %Name:
    
    BIDMEX 8, LLCJurisdiction:
    
    Delaware, formed on May 31, 2001Manager:
    
    FirstCity Mexico, Inc.Member:
    
    Strategic Mexican Investment Partners, L.P.
    
    
    
    
    20.00
    %Name:
    
    Recuperacion de Activos Mexicanos, S. de R.L. de C.V.Jurisdiction:
    
    MexicoShareholders:
    
    BIDMEX 8, LLC
    
    
    
    
    100.0
    %Name:
    
    BIDMEX 9, LLCJurisdiction:
    
    Delaware, formed on January 7, 2003Manager:
    
    FirstCity Mexico, Inc.Member:
    
    Strategic Mexican Investment Partners, L.P.

    
    
    
    
    15.00
    %Name:
    
    Solucion de Activos Residenciales, S. de R.L. de C.V.Jurisdiction:
    
    MexicoShareholders:
    
    BIDMEX 9, LLC
    
    
    
    
    100.0
    %Name:
    
    BIDMEX 10, LLCJurisdiction:
    
    Delaware, formed on July 8, 2004Manager:
    
    FirstCity Mexico, Inc.Member:
    
    FirstCity Mexico, Inc.
    
    
    
    
    25.00
    %Name:
    
    Solucion de Activos Comerciales, S. de R.L. de C.V.Jurisdiction:
    
    MexicoShareholders:
    
    BIDMEX 10, LLC
    
    
    
    
    100.0
    %Name:
    
    FirstCity South America, LLCJurisdiction:
    
    Texas, formed December 12, 2003Managers:
    
    James C. HolmesTerry R. DeWittMembers:
    
    FirstCity Holdings Corporation
    
    
    
    
    50
    %Name:
    
    P.R. L. Developpement, S.A.S.Jursidiction:
    
    FranceOwnership:
    
    FirstCity Europe Corporation
    
    
    
    
    33.50
    %MCS et Associes, S.A.
    
    
    
    
    33.50

    %Name:
    
    UBN, Societe AnonymeJurisdiction:
    
    FranceOwnership:
    
    P.R.L. Developpement, S.A.S.
    
    
    
    
    100
    %
 Page 4




---



##### 



Name:
    
    SAI, Societe Auxiliare ImmobiliereJurisdiction:
    
    FranceOwnership:
    
    FirstCity Europe Corporation
    
    
    
    
    22.5
    %Name:
    
    Community Development Investments, LLCJurisdiction:
    
    Delaware, incorporated June 18, 1999Manager:
    
    WAMCO XXIV, Ltd.Member:
    
    WAMCO XXIV, Ltd.
    
    
    
        
100% 
of Common Membership InterestsName:
    
    CFSC Consortium, LLCJurisdiction:
    
    Delaware, incorporated on August 12, 1999Members:
    
    WAMCO XXVII, Ltd.
    
    
    
    
    51.16
    %Name:
    
    UHR LimitedJurisdiction:
    
    England and Wales; organized March 15, 1999(name change from CHRB Limited to UHR Limited 05-06-99)Shareholder:
    
    FirstCity International Corporation
    
    200 B Shares
    
    
    (20
    %)Name:
    
    NEVVS LimitedJurisdication:
    
    England and Wales; November 27, 2000Shareholder:
    
    FirstCity International Corporation
    
    250 B Shares
    
    
    (25
    %)Name:
    
    WHBE LimitedJurisdiction:
    
    England and Wales; December 13, 2001Shareholder:
    
    FirstCity International Corporation
    
    100 B Shares
    
    
    (10
    %)Name:
    
    WOX LimitedJurisdiction:
    
    England and Wales; May 27, 2002Shareholder:
    
    FirstCity International Corporation
    
    200 C Shares
    
    
    (20
    %)Name:
    
    CRY LimitedJurisdiction:
    
    England and Wales; July 30, 2002Shareholder:
    
    FirstCity International Corporation
    
    200 B Shares
    
    
    (20
    %)Name:
    
    CTY LimitedJurisdiction:
    
    England and Wales; December 18, 2002Shareholder:
    
    FirstCity International Corporation
    
    200 B Shares
    
    
    (20
    %)Name:
    
    WOL LimitedJurisdiction:
    
    England and Wales; June 11, 2003Shareholder:
    
    FirstCity International Corporation
    
    225 C Shares
    
    
    (22.5
    %)Name:
    
    WOD LimitedJurisdiction:
    
    England and Wales; November 12, 2003Shareholder:
    
    FirstCity International Corporation
    
    225 C Shares
    
    
    (22.5
    %)Name:
    
    FG Portfolio LimitedJurisdiction:
    
    England and Wales; June 8, 2004Shareholder:
    
    FirstCity International Corporation
    
    225 C Shares
    
    
    (22.5
    %)Name:
    
    FirstStreet Investment CorporationJurisdiction:
    
    Delaware, incorporated on August 9, 1996Shareholders:
    
    FirstCity Commercial Corporation
    
    500 Shares
    
    
    (50
    %)
 Page 5




---



##### 



Name:
    
    FirstStreet Investment L.L.C.Jurisdiction:
    
    Delaware, certificate filed on August 9, 1996Members:
    
    FirstStreet Investment Corporation, WAMCO III, Ltd. andWAMCO IX, Ltd.Name:
    
    W&B Property Management, Inc.Jurisdiction:
    
    Texas, incorporated February 12, 1993Shareholder:
    
    FC Properties One, Ltd.
    
    1,000 Shares
    
    
    (100
    %)B.
    
    Corporate General Partners of Limited Partnerships:Name:
    
    WAMCO III of Texas, Inc.Jurisdiction:
    
    TexasShareholder:
    
    FirstCity Commercial Corporation
    
    948 Shares
    
    
    (50
    %)Name:
    
    WAMCO IX of Texas, Inc.Jurisdiction:
    
    TexasShareholder:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    (50
    %)Name:
    
    WAMCO XXII of Texas, Inc.Jurisdiction:
    
    Texas, incorporated on May 26, 1995Shareholder:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    (50
    %)Name:
    
    WAMCO XXIV of Texas, Inc.Jurisdiction:
    
    TexasShareholder:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    (50
    %)Name:
    
    WAMCO XXV of Texas, Inc.Jurisdiction:
    
    Texas, incorporated on August 8, 1997Shareholder:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    (50
    %)Name:
    
    WAMCO XXVI of Texas, Inc.Jurisdiction:
    
    Texas, incorporated on September 22, 1998Shareholder:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    (50
    %)Name:
    
    WAMCO XXVII of Texas, Inc.Jurisdiction:
    
    Texas, incorporated on September 20, 1999Shareholder:
    
    FirstCity Holdings Corporation
    
    200 Shares
    
    
    (50
    %)Name:
    
    WAMCO XXVIII of Texas, Inc.Jurisdiction:
    
    Texas, incorporated on March 14, 2000Shareholder:
    
    FirstCity Holdings Corporation
    
    200 Shares
    
    
    (50
    %)Name:
    
    WAMCO XXX of Texas, Inc.Jurisdiction:
    
    Texas, incorporated on January 5, 2001Shareholder:
    
    FirstCity Holdings Corporation
    
    200 Shares
    
    
    (50
    %)Name:
    
    WAMCO 31 of Texas, Inc.Jurisdiction:
    
    Texas, incorporated on February 20, 2003Shareholder:
    
    FirstCity Holdings Corporation
    
    200 Shares
    
    
    (50
    %)
 Page 6




---



##### 



Name:
    
    WAMCO 32 of Texas, Inc.Jurisdiction:
    
    Texas, incorporated on October 8, 2003Shareholder:
    
    FirstCity Holdings Corporation
    
    200 Shares
    
    
    (50
    %)Name:
    
    WAMCO 33 of Texas, Inc.Jurisdiction:
    
    Texas, incorporated on November 12, 2003Shareholder:
    
    FirstCity Holdings Corporation
    
    200 Shares
    
    
    (50
    %)Name:
    
    FH Asset Corp.Jurisdiction:
    
    Texas, incorporated on December 17, 1996Shareholder:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    (100
    %)Name:
    
    FC Assets Corp.Jurisdiction:
    
    Texas, incorporated on February 27, 1998Shareholder:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    (100
    %)Name:
    
    DFC Asset Corp.Jurisdiction:
    
    Texas, incorporated on July 26, 1995Shareholder:
    
    FirstCity Commercial Corporation
    

    1,000 Shares
    
    
    (100
    %)Name:
    
    First C Corp.Jurisdiction:
    
    Texas, incorporated on March 6, 1998Shareholder:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    (100
    %)Name:
    
    First X Corp.Jurisdiction:
    
    Texas, incorporated on October 3, 1996Shareholder:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    (100
    %)Name:
    
    First B Corp.Jurisdiction:
    
    Texas, incorporated on October 10, 1997Shareholder:
    
    FirstCity Commercial Corporation
    
    400 Shares
    
    
    (100
    %)Name:
    
    SVD Realty Asset Corp.Jurisdiction:
    
    Texas, incorporated on June 6, 1997Shareholder:
    
    FirstCity Commercial Corporation
    
    400 Shares
    
    
    (100
    %)Name:
    
    FC Assets One Corp.Jurisdiction:
    
    Texas, incorporated on March 17, 1998Shareholder:
    
    FC Assets Corp.
    
    1,000 Shares
    
    
    (100
    %)Name:
    
    FC Assets Three Corp.Jurisdiction:
    
    Texas, incorporated on March 17, 1998Shareholder:
    
    FC Assets Corp.
    
    1,000 Shares
    
    
    (100
    %)Name:
    
    FC Assets Four Corp.Jurisdiction:
    
    Texas, incorporated on March 17, 1998Shareholder:
    
    FC Assets Corp.
    
    1,000 Shares
    
    
    (100
    %)Name:
    
    FC Assets Five Corp.Jurisdiction:
    
    Texas, incorporated on March 17, 1998Shareholder:
    
    FC Assets Corp.
    
    1,000 Shares
    
    
    (100
    %
 Page 7




---



##### 



Name:
    
    FC Assets Six Corp.Jurisdiction:
    
    Texas, incorporated on March 17, 1998Shareholder:
    
    FC Assets Corp.
    
    1,000 Shares
    
    
    (100
    %Name:
    
    FCS Wood GP, Corp.Jurisdiction:
    
    Texas, incorporated on September 15, 1998Shareholder:
    
    FirstCity Holdings Corporation
    
    200 Shares
    
    
    (50
    %)Name:
    
    FCS Creamer GP, Corp.Jurisdiction:
    
    Texas, incorporated on April 28, 1999Shareholder:

    
    FirstCity Holdings Corporation
    
    200 Shares
    
    
    (50
    %)Name:
    
    FCS Wildhorse GP, Corp.Jurisdiction:
    
    Texas, incorporated on June 14, 1999Shareholder:
    
    FirstCity Holdings Corporation
    
    200 Shares
    
    
    (50
    %)Name:
    
    FCS Fischer GP, Corp.Jurisdiction:
    
    Texas, incorporated on March 13, 2000Shareholder:
    
    FirstCity Holdings Corporation
    
    200 Shares
    
    
    (33
    %)Name:
    
    MCSFC GP Corp.Jurisdiction:
    
    Texas, incorporated on September 11, 2000Shareholders:
    
    FirstCity Holdings Corporation
    
    1000 Shares
    
    
    (100
    %)Name:
    
    Imperial Partners GP Corp.Jurisdication:
    
    Texas, incorporated on October 4, 2000Shareholder:
    
    FirstCity Holdings Corporation
    
    200 Shares
    
    
    (100
    %)Name:
    
    MinnTex GP Corp.Jurisdication:
    
    Texas, incorporated on March 11, 2002Shareholder:
    
    FirstCity Holdings Corporation of Minnesota
    
    200 Shares
    
    
    (50
    %)Name:
    
    FirstGreen GP LLCJurisdication:
    
    Delaware, formed on August 29, 2003Member:
    
    FirstCity Commercial Corporation
    
    
    
    
    100
    %Name:
    
    EuroTex Partners GP Corp.Jursidiction:
    
    Texas, incorporated on June 18, 2004Ownership:
    
    FirstCity Commercial Corporation
    
    400 Shares
    
    
    (100
    %)C.
    
    Limited Partnerships:Name:
    
    WAMCO III, Ltd.Jurisdiction:
    
    TexasPartners:
    
    WAMCO III of Texas, Inc.
    
    General
    
    
    2
    %FirstCity Commercial Corporation
    
    Class A Limited
    
    
    49
    %Name:
    
    WAMCO IX, Ltd.Jurisdiction:
    
    TexasPartners:
    
    WAMCO IX of Texas, Inc.
    
    General
    
    
    2
    %FirstCity Commercial Corporation
    
    Class A Limited
    
    
    49
    %Name:
    
    WAMCO XXII, Ltd.Jurisdiction:
    
    Texas, certificate filed on May 26, 1995Partners:
    
    WAMCO XXII of Texas, Inc.
    
    General
    
    
    2
    %FirstCity Commercial Corporation
    
    Limited
    
    
    49
    %
 Page 8




---



##### 



Name:
    
    WAMCO XXIV, Ltd.Jurisdiction:
    
    Texas, certificate filed on March 6, 1996Partners:
    
    WAMCO XXIV of Texas, Inc.
    
    General
    
    
    2
    %FirstCity Commercial Corporation
    
    Limited
    
    
    49
    %Name:
    
    WAMCO XXV, Ltd.Jurisdiction:
    
    Texas, certificate filed on August 8, 1997Partners:
    
    WAMCO XXV of Texas, Inc.
    
    General
    
    
    2
    %FirstCity Commercial Corporation
    
    Limited
    
    
    49
    %Name:
    
    WAMCO XXVI, Ltd.Jurisdiction:
    
    Texas, certificate filed on September 22, 1998Partners:
    
    WAMCO XXVI of Texas, Inc.
    
    General
    
    
    0.50
    %FirstCity Commercial Corporation
    
    Limited
    
    
    49.75
    %Name:
    
    WAMCO XXVII, Ltd.Jurisdiction:
    
    Texas, certificate filed on September 20, 1999Partners:
    
    WAMCO XXVII of Texas, Inc.
    
    General
    
    
    2.0
    %FirstCity Holdings Corporation
    
    Limited
    
    
    4.0
    %Name:
    
    WAMCO XXVIII, Ltd.Jurisdiction:
    
    Texas, certificate filed on March 14, 2000Partners:
    
    WAMCO XXVIII of Texas, Inc.
    
    General
    
    
    1.0
    %FirstCity Holdings Corporation
    
    Limited
    
    
    49.50
    %Name:
    
    WAMCO XXX, Ltd.Jurisdiction:
    
    Texas, certificate filed on January 5, 2001Partners:
    
    WAMCO XXX of Texas, Inc.
    
    General
    
    
    1.0
    %FirstCity Holdings Corporation
    
    Limited
    
    
    49.50
    %Name:
    
    WAMCO 31, Ltd.Jurisdiction:
    
    Texas, certificate filed on February 20, 2003Partners:
    
    WAMCO 31 of Texas, Inc.
    
    General
    
    
    1.0
    %FirstCity Holdings Corporation
    
    Limited
    
    
    49.50
    %Name:
    
    WAMCO 32, Ltd.Jurisdiction:
    
    Texas, certificate filed on October 8, 2003Partners:
    
    WAMCO 32 of Texas, Inc.
    
    General
    
    
    1.0
    %FirstCity Holdings Corporation
    
    Limited
    
    
    49.50
    %Name:
    
    WAMCO 33, Ltd.Jurisdiction:
    
    Texas, certificate filed on November 20, 2003Partners:
    
    WAMCO 33 of Texas, Inc.
    
    General
    
    
    1.0
    %FirstCity Holdings Corporation
    
    Limited
    
    
    49.50
    %Name:
    
    FH Partners, L.P.Jurisdiction:
    
    Texas, certificate filed on December 17, 1996Partners:
    
    FH Asset Corp.
    
    General
    
    
    2
    %FirstCity Commercial Corporation
    
    Limited
    
    
    98
    %Name:
    
    First C Partners, L.P.Jurisdiction:
    
    Texas, certificate filed on March 6, 1998Partners:
    
    First C Corp.
    
    General
    
    
    2
    %FirstCity Commercial Corporation
    
    Limited
    
    
    98
    %
 Page 9




---



##### 



Name:
    
    First X Realty, L.P.Jurisdiction:
    
    Texas, certificate filed on October 3, 1996Partners:
    
    First X Corp.
    
    General
    
    
    2
    %FirstCity Commercial Corporation
    
    Limited
    
    
    98
    %Name:
    
    First B Realty, L.P.Jurisdiction:
    
    Texas, certificate filed on October 10, 1997Partners:
    
    First B Corp.
    
    General
    
    
    1
    %FirstCity Commercial Corporation
    
    Limited
    
    
    49
    %Name:
    
    SVD Realty, L.P.Jurisdiction:
    
    Texas, certificate filed on June 6, 1997Partners:
    
    SVD Realty Asset Corp.
    
    General
    
    
    2
    %FirstCity Commercial Corporation
    
    Limited
    
    
    98
    %Name:
    
    FC Properties, Ltd.Jurisdiction:
    
    Texas, certificate filed on February 27, 1998Partners:
    
    FC Assets Corp.
    
    General
    
    
    0.50
    %FirstCity Commercial Corporation
    
    Limited
    
    
    14.50
    %Name:
    
    Diversified Financial Systems, L.P.Jurisdiction:
    
    Texas, certificate filed on April 19, 1999Partners:
    
    DFC Asset Corp.
    
    General
    
    
    1.0
    %FirstCity Commercial Corporation
    
    Limited
    
    
    99.0
    %Name:
    
    FCS Wood, Ltd.Jurisdiction:
    
    Texas, certificate filed on September 15, 1998Partners:
    
    FCS Wood GP Corp.
    
    General
    
    
    0.50
    %FirstCity Holdings Corporation
    
    Limited
    
    
    49.75
    %Name:
    
    FCS Creamer, Ltd.Jurisdiction:
    
    Texas, certificate filed on April 28, 1999Partners:
    
    FCS Creamer GP, Corp.
    
    General
    
    
    0.50
    %FirstCity Holdings Corporation
    
    Limited
    
    
    49.75
    %Name:
    
    FCS Wildhorse, Ltd.Jurisdiction:
    
    Texas, certificate filed on June 14, 1999Partners:
    
    FCS Wildhorse GP, Corp.
    
    General
    
    
    0.50
    %FirstCity Holdings Corporation
    
    Limited
    
    
    49.75
    %Name:
    
    FCS Fischer, Ltd.Jurisdiction:
    
    Texas, certificate filed on March 13, 2000Partners:
    
    FCS Fischer GP, Corp.
    
    General
    
    
    0.90
    %FirstCity Holdings Corporation
    
    Limited
    
    
    24.70
    %Name:
    
    MCSFC, Ltd.Jurisdiction:
    
    Texas, certificate filed on September 11, 2000Partners:
    
    MCSFC GP Corp.
    
    General
    
    
    0.50
    %FirstCity Holdings Corporation
    
    Limited
    
    
    49.75
    %MCS et Associes, S.A.
    
    Limited
    
    
    49.75
    %Name:
    
    Imperial Partners, Ltd.Jurisdiction:
    
    Texas, certificate filed on October 4, 2000Partners:
    
    Imperial Partners GP Corp.
    
    General
    
    
    0.50
    %FirstCity Holdings Corporation
    
    Limited
    
    
    99.50
    %
 Page 10




---



##### 



Name:
    
    MinnTex Investment Partners LPJurisdiction:
    
    Texas, certificate filed on March 11, 2002Partners:
    
    MinnTex GP Corp.
    
    General
    
    
    1.00
    %FirstCity Holdings Corporation of Minnesota
    
    Limited
    
    
    33.00
    %Name:
    
    FirstGreen LPJurisdiction:
    
    Delaware, August 29, 2003Partners:
    
    FirstGreen GP LLC
    
    General
    
    
    1.0
    %FirstCity Commercial Corporation
    
    Limited
    
    
    99.0
    %Name:
    
    EuroTex Partners, Ltd.Jurisdiction:
    
    Texas, June 18, 2004Partners:
    
    EuroTex Partners GP Corp.
    
    General
    
    
    0.50
    %FirstCity Commercial Corporation
    
    Limited
    
    
    99.50
    %Name:
    
    FC Properties One, Ltd.Jurisdiction:
    
    Texas, certificate filed on March 17, 1998Partners:
    
    FC Assets One Corp.
    
    General
    
    
    0.50
    %FC Properties, Ltd.
    
    Limited
    
    
    99.50
    %Name:
    
    FC Properties Three, Ltd.Jurisdiction:
    
    Texas, certificate filed on March 17, 1998Partners:
    
    FC Assets Three Corp.
    
    General
    
    
    0.50
    %FC Properties, Ltd.
    
    Limited
    
    
    99.50
    %Name:
    
    FC Properties Four, Ltd.Jurisdiction:
    
    Texas, certificate filed on March 17, 1998Partners:
    
    FC Assets Four Corp.
    
    General
    
    
    0.50
    %FC Properties, Ltd.
    
    Limited
    
    
    99.50
    %Name:
    
    FC Properties Five, Ltd.Jurisdiction:
    
    Texas, certificate filed on March 17, 1998Partners:
    
    FC Assets Five Corp.
    
    General
    
    
    0.50
    %FC Properties, Ltd.
    
    Limited
    
    
    99.50
    %Name:
    
    FC Properties Six, Ltd.Jurisdiction:
    
    Texas, certificate filed on March 17, 1998Partners:
    
    FC Assets Six Corp.
    
    General
    
    
    0.50
    %FC Properties, Ltd.
    
    Limited
    
    
    99.50
    %D.
    
    Corporate General Partners of REO Affiliate Limited Partnerships:Name:
    
    SOWAMCO III of Texas, Inc.Jurisdiction:
    
    TexasOwnership:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    50
    %Name:
    
    SOWAMCO V of Texas, Inc.Jurisdiction:
    
    TexasShareholder:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    50
    %Name:
    
    SOWAMCO VI of Texas, Inc.Jurisdiction:
    
    TexasShareholder:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    50
    %
 Page 11




---



##### 



Name:
    
    SOWAMCO VIII of Texas, Inc.Jurisdiction:
    
    TexasShareholder:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    50
    %Name:
    
    SOWAMCO IX of Texas, Inc.Jurisdiction:
    
    TexasShareholder:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    50
    %Name:
    
    SOWAMCO XV of Texas, Inc.Jurisdiction:
    
    TexasShareholder:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    50
    %Name:
    
    SOWAMCO XVII of Texas, Inc.Jurisdiction:
    
    TexasShareholder:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    50
    %Name:
    
    SOWAMCO XVIII of Texas, Inc.Jurisdiction:
    
    TexasShareholder:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    50
    %Name:
    
    SOWAMCO XX of Texas, Inc.Jurisdiction:
    
    TexasShareholder:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    50
    %Name:
    
    SOWAMCO XXII of Texas, Inc.Jurisdiction:
    
    Texas, incorporated on May 26, 1995Shareholder:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    50
    %Name:
    
    SOWAMCO XXIV of Texas, Inc.Jurisdiction:
    
    Texas, incorporated on December 15, 1993Shareholder:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    50
    %Name:
    
    SOWAMCO XXV of Texas, Inc.Jurisdiction:
    
    Texas, incorporated on May 26, 1995Shareholder:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    50
    %Name:
    
    SOWAMCO XXVII of Texas, Inc.Jurisdiction:
    
    Texas, incorporated on January 18, 2000Shareholder:
    
    WAMCO XXVII, Ltd.
    
    400 Shares
    
    
    100
    %Name:
    
    SOWAMCO XXVIII of Texas, Inc.Jurisdiction:
    
    Texas, incorporated on March 24, 2000Shareholder:
    
    WAMCO XXVIII, Ltd.
    
    400 Shares
    
    
    100
    %Name:
    
    SOWAMCO XXIX of Texas, Inc.Jurisdiction:
    
    Texas, incorporated on December 11, 2000Shareholders:
    
    WAMCO XXVII, Ltd.
    
    400 Shares
    
    
    100
    %Name:
    
    SOWAMCO XXX of Texas, Inc.Jurisdiction:
    
    Texas, incorporated on May 30, 2002Shareholders:
    
    WAMCO XXX, Ltd.
    
    400 Shares
    
    
    100
    %
 Page 12




---



##### 



Name:
    
    SOWAMCO 31 of Texas, Inc.Jurisdiction:
    
    Texas, incorporated on August 20, 2003Shareholders:
    
    WAMCO 31, Ltd.
    
    400 Shares
    
    
    100
    %Name:
    
    SOWAMCO 33 of Texas, Inc.Jurisdiction:
    
    Texas, incorporated on December 10, 2003Shareholders:
    
    WAMCO 33, Ltd.
    
    400 Shares
    
    
    100
    %Name:
    
    FH Properties of Texas, Inc.Jurisdiction:
    
    Texas, incorporated on November 19, 1997Shareholders:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    50
    %Consolidated Subsidiary:
    
    NoName:
    
    Paloma Asset Corp.Jurisdiction:
    
    Texas, incorporated on November 26, 1996Shareholders:
    
    FirstCity Commercial Corporation
    
    200 Shares
    
    
    50
    %Name:
    
    MCSFC Realty GP Corp.Jurisdiction:
    
    Texas, incorporated on September 19, 2000Shareholders:
    
    MCSFC, Ltd.
    
    1,000 Shares
    
    
    100
    %Consolidated Subsidiary:
    
    NoName:
    
    WH Realty GP Corp.Jurisdiction:
    
    Texas, incorporated on June 20, 2001Shareholders:
    
    FCS Wildhorse, Ltd.
    
    1,000 Shares
    
    
    100
    %E.
    
    REO Affiliate Limited Partnerships:Name:
    
    SOWAMCO III, Ltd.Jurisdiction:
    
    TexasPartners:
    
    SOWAMCO III of Texas, Inc.
    
    General
    
    
    2
    %WAMCO III, Ltd.
    
    Limited
    
    
    98
    %Name:
    
    SOWAMCO V, Ltd.Jurisdiction:
    
    TexasPartners:
    
    SOWAMCO V of Texas, Inc.
    
    General
    
    
    2
    %WAMCO III, Ltd.
    
    Limited
    
    
    98
    %Name:
    
    SOWAMCO VI, Ltd.Jurisdiction:
    
    TexasPartners:
    
    SOWAMCO VI of Texas, Inc.
    
    General
    
    
    2
    %WAMCO III, Ltd.
    
    Limited
    
    
    98
    %Name:
    
    SOWAMCO VIII, Ltd.Jurisdiction:
    
    TexasPartners:
    
    SOWAMCO VIII of Texas, Inc.
    
    General
    
    
    2
    %WAMCO III, Ltd.
    
    Limited
    
    
    98
    %Name:
    
    SOWAMCO IX, Ltd.Jurisdiction:
    
    TexasPartners:
    
    SOWAMCO IX of Texas, Inc.
    
    General
    
    
    2
    %WAMCO IX, Ltd.
    
    Limited
    
    
    98
    %
 Page 13




---



##### 



Name:
    
    SOWAMCO XV, Ltd.Jurisdiction:
    
    TexasPartners:
    
    SOWAMCO XV of Texas, Inc.
    
    General
    
    
    2
    %WAMCO III, Ltd.
    
    Limited
    
    
    98
    %Name:
    
    SOWAMCO XVII, Ltd.Jurisdiction:
    
    TexasPartners:
    
    SOWAMCO XVII of Texas, Inc.
    
    General
    
    
    2
    %WAMCO III, Ltd.
    
    Limited
    
    
    98
    %Name:
    
    SOWAMCO XVIII, Ltd.Jurisdiction:
    
    TexasPartners:
    
    SOWAMCO XVIII of Texas, Inc.
    
    General
    
    
    2
    %WAMCO III, Ltd.
    
    Limited
    
    
    98
    %Name:
    
    SOWAMCO XX, Ltd.Jurisdiction:
    
    TexasPartners:
    
    SOWAMCO XX of Texas, Inc.
    
    General
    
    
    2
    %WAMCO III, Ltd.
    
    Limited
    
    
    98
    %Name:
    
    SOWAMCO XXII, Ltd.Jurisdiction:
    
    Texas, filed Certificate of Limited Partnership on May 26, 1995Partners:
    
    SOWAMCO XXII of Texas, Inc.
    
    General
    
    
    2
    %WAMCO XXII, Ltd.
    
    Limited
    
    
    98
    %Name:
    
    SOWAMCO XXIV, Ltd.Jurisdiction:
    
    Texas, filed Certificate of Limited Partnership on December 15, 1993Partners:
    
    SOWAMCO XXIV of Texas, Inc.
    
    General
    
    
    2
    %WAMCO IX, Ltd.
    
    Limited
    
    
    98
    %Name:
    
    SOWAMCO XXV, Ltd.Jurisdiction:
    
    Texas, filed Certificate of Limited Partnership on May 26, 1995Partners:
    
    SOWAMCO XXV of Texas, Inc.
    
    General
    
    
    2
    %WAMCO XXV, Ltd.
    
    Limited
    
    
    98
    %Name:
    
    SOWAMCO XXVII, Ltd.Jurisdiction:
    
    Texas, filed Certificate of Limited Partnership on January 18, 2000Partners:
    
    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, 2000Partners:
    
    SOWAMCO XXVIII of Texas, Inc.
    
    General
    
    
    1
    %WAMCO XXVIII, Ltd.
    
    Limited
    
    
    99
    %Name:
    
    SOWAMCO XXIX, Ltd.Jurisdiction:
    
    Texas, filed Certificate of Limited Partnership on December 11, 2000Partners:
    
    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, 2002Partners:
    
    SOWAMCO XXX of Texas, Inc.
    
    General
    
    
    1
    %WAMCO XXX, Ltd.
    
    Limited
    
    
    99
    %
 Page 14




---



##### 



Name:
    
    SOWAMCO 31, Ltd.Jurisdiction:
    
    Texas, filed Certificate of Limited Partnership on August 20, 2003Partners:
    
    SOWAMCO 31 of Texas, Inc.
    General
    1%WAMCO 31, Ltd.
    Limited
    99%Name:
    
    SOWAMCO 33, Ltd.Jurisdiction:
    
    Texas, filed Certificate of Limited Partnership on December 10, 2003Partners:
    
    SOWAMCO 33 of Texas, Inc.
    General
    1%WAMCO 33, Ltd.
    Limited
    99%Name:
    
    FH Properties, L.P.Jurisdiction:
    
    Texas, certificate filed on November 19, 1997Partners:
    
    FH Properties of Texas, Inc.
    General
    2%FH Partners, L.P.
    Limited
    98%Name:
    
    Paloma Realty, Ltd.Jurisdiction:
    
    Texas, certificate filed on November 26, 1996Partners:
    
    Paloma Asset Corp.
    General
    2%First Paradee, Ltd.
    Limited
    98%Name:
    
    MCSFC Realty, Ltd.Jurisdiction:
    
    Texas, certificate filed on September 19, 2000Partners:
    
    MCSFC Realty GP corp.
    General
    0.5%MCSFC, Ltd.
    Limited
    99.5%Name:
    
    WH Realty, Ltd.Jurisdiction:
    
    Texas, certificate filed on June 20, 2001Partners:
    
    WH Realty GP corp.
    General
    0.5%FCS Wildhorse, Ltd.
    Limited
    99.5%
  3.
    FirstCity Consumer Lending Corporation. The following corporations,limited partnerships,limited liability companies and other entities are entities in which FirstCity
Consumer Lending Corporation or its subsidiaries own an equity interest. A.
    
    Corporations:Name:
    
    SL Funding CorporationJurisdiction:
    
    Texas, incorporated on October 16, 1996Shareholder:
    
    FirstCity Consumer Lending Corporation
    1,000 Shares
    (100%)Name:
    
    ETAFirst Funding CorporationJurisdiction:
    
    Texas, incorporated on July 17, 1996Shareholders:
    
    SL Funding Corporation
    1,000 Shares
    (100%)B.
    
    Limited Liability Company:Name:
    
    FirstCity Auto Receivables, L.L.C.Jurisdiction:
    
    Texas, incorporated on April 30, 1998Members:
    
    FirstCity Consumer Lending Corporation
    Floating VariableFirstCity Consumer Finance Corporation
 Page 15




---



##### 



4.
    FirstCity Servicing Corporation.The following corporations, limited partnerships, limited liability companies and other entities are entities in which FirstCity
Servicing Corporation owns an equity interest. A.
    
    Corporations:Name:
    
    Asset Servicing de Mexico S.A. de C.V.Jurisdiction:
    
    Mexico, incorporated December 2, 1998Shareholders:
    
    FirstCity Servicing Corporation
    
    99 Shares
    
    (99%)FirstCity Financial Corporation
    
    1 Share
    
    (1%)Name:
    
    Compagnie Transatlantique de PortefeuillesJurisdiction:
    
    France, Societe Par Actions Simplifiee, July 22, 1997FirstCity Servicing Corporation
    
    5,000 Shares
    
    (33%)Name:
    
    MCS et Associés, S.A.Jurisdiction:
    
    France, Societe AnonymeShareholder:
    
    FirstCity Servicing Corporation
    
    121,150 Shares
    
    (11.89%)Name:
    
    FirstCity Servicing Corporation of California(formerly and d/b/a Milco Loan Servicing Corporation)Jurisdiction:
    
    California, incorporated on January 3, 1991Shareholder:
    
    FirstCity Servicing Corporation
    
    199 Shares
    
    (100%)Name:
    
    FirstCity do Brasil Ltda.Jurisdiction:
    
    Brasil; July 23, 2001Shareholders:
    
    FirstCity Servicing Corporation
    
    999 Quotas
    
    (100%)FirstCity Holdings Corporation
    
    1 QuotasName:
    
    FirstCity Argentina, S.A.Jurisdiction:
    
    Argentina; May 21, 2004Shareholder:
    
    FirstCity Servicing Corporation
    
    
    
    (95%)Name:
    
    FirstCity Recovery, S.A.Jurisdiction:
    
    ArgentinaShareholder:
    
    FirstCity Argentina, S.A.
    
    
    
    (50%)Name:
    
    Servicios Efectivos de Recuperaction, S.A. de C.V.Jurisdiction:
    
    Mexico; November 16, 2001Shareholders:
    
    Asset Servicing de Mexico S.A. de C.V.
    
    49,999 Shares
    
    (100%)FirstCity Servicing Corporation
    
    1 ShareName:
    
    FirstCity Servicing Corporation of MinnesotaJursidiction:
    
    Texas, incorporated on March 11, 2002Shareholder:
    
    FirstCity Servicing Corporation
    
    400 Shares
    
    (100%)Name:
    
    FirstCity Consumer Servicing CorporationJurisdiction:
    
    Texas, incorporated August 2, 2003Shareholder:
    
    FirstCity Servicing Corporation
    
    400 Shares
    
    (100%)
 Page 16




---



##### 



5.
    FC Capital Corp. (dba FirstCity Capital Corporation).The following corporations, limited partnerships, limited liability companies and other entities are entities in
which FC Capital Corp. and its affiliates own an equity interest. Name:
    
    FirstCity Capital Home Equity Funding Corp.Jurisdiction:
    
    Delaware, incorporated on June 25, 1998Shareholder:
    
    FC Capital Corp.
    
    1,000 Shares
    
    
    (100
    %)*Discontinued OperationName:
    
    Valhalla Holdings Corp.Jurisdiction:
    
    Delaware, incorporated on June 25, 1998Shareholder:
    
    FC Capital Corp.
    
    1,000 Shares
    
    
    (100
    %)*Discontinued Operation
 Page 17