Exhibit 21.1  FIRSTCITY
FINANCIAL CORPORATION  (21)
  
  Subsidiaries of the Registrant1.
  
  FirstCity Financial Corporation.  The following corporations, limited
  partnerships, limited liability companies and other entities are entities in
  which FirstCity Financial Corporation or certain of its subsidiaries own an
  equity interest.A.
  
  Corporations:Name:
  
  Bosque
  Asset Corp.Jurisdiction:
  
  Texas,
  incorporated on March 27, 1997Shareholder:
  
  FirstCity Financial Corporation
  
  10,000
  Shares
  
  (100
  )%Name:
  
  FirstCity
  Commercial Corporation (formerly J-Hawk Corporation)Jurisdiction:
  
  Texas,
  incorporated on July 21, 1995Shareholder:
  
  FirstCity
  Financial Corporation
  
  1,000
  Shares Cert. No. 1
  
  (100
  )%Consolidated
  Subsidiary:
  
  YesName:
  
  FC
  Capital Corp. (d/b/a FirstCity Capital Corporation)Jurisdiction:
  
  New
  York, incorporated on August 4, 1997Shareholder:
  
  FirstCity
  Financial Corporation
  
  1,000,000 Shares
  
  (100
  )%Name:
  
  FirstCity
  Consumer Lending CorporationJurisdiction:
  
  Texas,
  incorporated on September 5, 1997Shareholder:
  
  FirstCity
  Financial Corporation
  
  1,000 Shares
  
  (100
  )%Name:
  
  FirstCity Business Lending CorporationJurisdiction:
  
  Texas,
  incorporated on June 6, 2006Shareholder:
  
  FirstCity
  Financial Corporation
  
  400 Shares
  
  (100
  )%Name:
  
  American
  Business Lending, Inc.Jurisdiction:
  
  Texas,
  incorporated on June 6, 2006Shareholder:
  
  FirstCity
  Business Lending Corporation
  
  96,000 Common Shares
  
  (96.0
  )%800,000 Preferred SharesName:
  
  FirstCity
  Fund Advisors, Inc.Jurisdiction:
  
  Delaware;
  incorporated on May 22, 2008Shareholder:
  
  FirstCity
  Financial Corporation
  
  50,000 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, 2001Shareholder:
  
  FirstCity Financial Corporation
  
  400 Shares
  
  (100
  )%Name:
  
  Bosque
  Leasing GP Corp. (formerly Bosque Investment Realty Corp.)Jurisdiction:
  
  Texas,
  incorporated on June 6, 1997Shareholder:
  
  Bosque
  Asset Corp.
  
  400 Shares
  
  (100
  )%Name:
  
  FirstCity
  US Opportunity Fund GP, Inc.Jurisdiction:
  
  Delaware;
  incorporated on May 22, 2008Shareholder:
  
  FirstCity
  Financial Corporation
  
  50,000 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
  
  0.50
  %FirstCity Financial Corporation
  
  Limited
  
  99.50
  %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
  %  1


Name:
  
  FirstCity
  US Opportunity Fund, LPJurisdiction:
  
  Delaware;
  formed on June 10, 2008Partners:
  
  FirstCity
  US Opportunity Fund GP, Inc.
  
  General
  -
  
  1.0
  %  2.
  FirstCity Commercial Corporation. The following
  corporations, limited partnerships, limited liability companies and other
  entities are entities in which FirstCity Commercial Corporation or certain of
  its subsidiaries own an equity interest.  A.
  Corporations and other Entities:Name:
  
  FirstCity
  Denver Investment Corp.Jurisdiction:
  
  Texas,
  incorporated on April 9, 2007Shareholder:
  
  FirstCity
  Commercial Corporation
  
  800
  Shares
  
  (80
  )%Name:
  
  FirstCity
  Crestone LLCJurisdiction:
  
  Texas,
  formed on April 9, 2007Shareholder:
  
  FirstCity
  Denver Investment Corp.
  
  
  
  (100
  )%Name:
  
  FC Crestone 07 Corp.Jurisdiction:
  
  Texas; formed on June 5, 2007Shareholder:
  
  FirstCity Denver Investment Corp.
  
  1,000 shares
  
  (100
  )%Name:
  
  FC Crestone Colorado 07 LLCJurisdiction:
  
  Colorado; formed September, 2007Member:
  
  FC Crestone 07 Corp.
  
  
  
  (100
  )%Name:
  
  FC Crestone 08 Corp.Jurisdiction:
  
  Texas; formed on March 26, 2008Shareholder:
  
  FirstCity Denver Investment Corp.
  
  1,000 Shares
  
  (100
  )%Name:
  
  ColoTex Energy Corp.Jurisdiction:
  
  Texas; formed on March 26, 2008Shareholder:
  
  FC Crestone 08 Corp.
  
  1,000 Shares
  
  (100
  )%Name:
  
  FC Crestone Utah, LLCJurisdiction:
  
  Delaware; May 2008Member:
  
  FC Crestone 08 Corp.
  
  
  
  (100
  )%Name:
  
  Oregon Short Line Building LLCJurisdiction:
  
  Delaware; May 15, 2008Member:
  
  FC Crestone Utah LLC
  
  
  
  (80
  )%Name:
  
  FC Crestone Wyoming LLCJurisdiction:
  
  Texas; formed on October 14, 2008Member:
  
  FC Crestone 08 Corp.
  
  
  
  (100
  )%Name:
  
  CAPP Resources LLCJurisdiction:
  
  Delaware;Member:
  
  FC Crestone 08 Corp.
  
  
  
  (35
  )%Name:
  
  FC Crestone 09 Corp.Jurisdiction:
  
  Texas; formed on January 6, 2009Shareholder:
  
  FirstCity Denver Investment Corp.
  
  1,000 Shares
  
  (100
  )%Name:
  
  FC Crestone 2009 Corp.Jurisdiction:
  
  Texas; formed on February 16, 2009Shareholder:
  
  FirstCity Denver Investment Corp.
  
  1,000 Shares
  
  (100
  )%Name:
  
  CPI Retail Lending LLCJurisdiction:
  
  Colorado; formed on February 12, 2009Member:
  
  FC Crestone 2009 Corp.
  
  
  
  (100
  )%Name:
  
  Regional Rail, LLCJurisdiction:
  
  Delaware; July 25, 2007Managers:
  
  Alfred M. SauerRobert C. ParkerMembers:
  
  FC Crestone 07 Corp.
  
  80,000 Units
  
  (80
  )%  2


Robert C. Parker
  
  10,000 Units
  
  (10)%Alfred M. Sauer
  
  10,000 Units
  
  (10)%Name:
  
  East Penn Railroad LLCJurisdiction:
  
  DelawareMember:
  
  Regional Rail, LLC
  
  
  
  (100)%Name:
  
  FirstCity Europe CorporationJurisdiction:
  
  Texas; incorporated on May 12, 2003Shareholder:
  
  FirstCity Commercial Corporation
  
  1,000 Shares
  
  (100)%Name:
  
  MPortfolio CorporationJurisdiction:
  
  Texas; incorporated on June 5, 2007Shareholders:
  
  FirstCity Commercial Corporation
  
  1,000 Shares
  
  (100)%Name:
  
  Calibat Fund Limited Liability CompanyJurisdiction:
  
  MinnesotaMember:
  
  FirstCity Commercial Corporation
  
  
  
  (50)%Name:
  
  FC Funding Corp.Jurisdiction:
  
  Texas, incorporated on March 26, 1996Shareholder:
  
  FirstCity Commercial Corporation
  
  1,000 Shares
  
  (100)%Name:
  
  F & C Texas Holdings CorporationJurisdiction:
  
  Texas, incorporated on November 23, 2005Shareholder:
  
  FirstCity Commercial Corporation
  
  4,000 Shares
  Class A
  (80)%Name:
  
  F & C Delaware Holdings CorporationJurisdiction:
  
  Delaware, incorporated on November 22, 2005Shareholder:
  
  F & C Texas Holdings Corporation
  
  4,000 Shares
  Class A
  (80)%Name:
  
  FH Partners LLCJurisdiction:
  
  Texas, certificate filed on December 17, 1996Member:
  
  FirstCity Commercial Corporation
  
  
  
  (100)%Name:
  
  FirstCity
  Holdings Corporation of MinnesotaJurisdiction:
  
  Texas,
  incorporated on March 11, 2002Shareholders:
  
  FirstCity Commercial Corporation
  
  400 Shares
  
  (100)%Name:
  
  FirstCity Servicing Corporation (formerly J-Hawk Servicing
  Corporation)Jurisdiction:
  
  Texas, incorporated on July 25, 1995Shareholders:
  
  FirstCity Commercial Corporation
  
  1,000 Shares
  
  (100)%Name:
  
  FirstCity International Corporation (formerly J-Hawk International
  Corp.)Jurisdiction:
  
  Texas; incorporated on December 19, 1996Shareholders:
  
  FirstCity Commercial Corporation
  
  200 Shares
  
  (100)%Name:
  
  FirstCity Japan Inc.Jurisdiction:
  
  Texas, incorporated on October 16, 1998Shareholders:
  
  FirstCity
  Commercial Corporation
  
  10,000
  Shares
  
  (100)%Name:
  
  Crinoline
  Investments B.V., a private company with limited liabilityJurisdiction:
  
  The
  Netherlands, established October 1, 1997Shareholders:
  
  FirstCity
  Japan Inc.
  
  410
  Shares
  
  (100)%Name:
  
  FirstCity Mexico, Inc.Jurisdiction:
  
  Texas, incorporated on December 9, 1998Shareholders:
  
  FirstCity Commercial Corporation
  
  1,000 Shares
  
  (100)%Name:
  
  FirstCity South America, LLCJurisdiction:
  
  Texas, formed December 12, 2003Managers:
  
  Rodrigo Ignacio Silva AlfaroRene Eduardo Silva AlfaroJames C. HolmesTerry R. DeWittMembers:
  
  FirstCity Commercial Corporation
  
  500 Units
  
  (50)%  3


Name:
  
  FirstCity Chile II, Ltda.Jurisdiction:
  
  Chile, formed June 23, 2008Shareholders:
  
  FirstCity Commercial Corporation
  
  
  
  (100
  )%Name:
  
  CFSC
  Consortium, LLCJurisdiction:
  
  Delaware,
  incorporated on August 12, 1999Manager:
  
  CFSC
  Capital Corp. IIMembers:
  
  WAMCO
  XXVII, Ltd.
  
  
  
  (51.16
  )%Name:
  
  VFC Partners 1 LLCJurisdiction:
  
  Delaware; formed on February 20, 2009Member:
  
  FirstCity Commercial Corporation
  
  
  
  (50
  )%B.
  
  Corporate General Partners of Limited Partnerships:Name:
  
  WAMCO XX of Texas, Inc.Jurisdiction:
  
  TexasShareholder:
  
  FirstCity Commercial Corporation
  
  2,048 Shares
  
  (50
  )%Name:
  
  WAMCO
  XXIV of Texas, Inc.Jurisdiction:
  
  Texas,
  incorporated on March 6, 1996Shareholder:
  
  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:
  
  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:
  
  FirstGreen GP LLCJurisdiction:
  
  Delaware; formed on August 29, 2003Member:
  
  FirstCity Commercial Corporation
  
  
  
  (100
  )%Name:
  
  FC Washington GP LLCJurisdiction:
  
  Texas; formed on April 20, 2005Member:
  
  FirstCity Commercial Corporation
  
  
  
  (100
  )%Name:
  
  WAMCO
  XXVII of Texas, Inc.Jurisdiction:
  
  Texas,
  incorporated on September 20, 1999Shareholders:
  
  FirstCity
  Commercial Corporation
  
  200
  Shares
  
  (50
  )%Name:
  
  WAMCO 30 of Texas, Inc.Jurisdiction:
  
  Texas, incorporated on January 5, 2001Shareholders:
  
  FirstCity Commercial Corporation
  
  200 Shares
  
  (50
  )%Name:
  
  WAMCO 32 of Texas, Inc.Jurisdiction:
  
  Texas, incorporated on October 8, 2003Shareholders:
  
  FirstCity Commercial Corporation
  
  200 Shares
  
  (50
  )%Name:
  
  WAMCO 80 of Texas, Inc.Jurisdiction:
  
  Texas, incorporated on March 24, 2006Shareholders:
  
  FirstCity Commercial Corporation
  
  250 Shares
  
  (50
  )%  4


Name:
  
  EuroTex Partners GP Corp.Jurisdiction:
  
  Texas; formed on June 18, 2004Shareholder:
  
  FirstCity Commercial Corporation
  
  400 Shares
  
  (100
  )%Name:
  
  FirstVal 1 GP Corp.Jurisdiction:
  
  Texas, incorporated on September 14, 2006Shareholders:
  
  FirstCity Commercial Corporation
  
  200 Shares
  
  (50
  )%Name:
  
  FCS
  Wood GP, Corp.Jurisdiction:
  
  Texas, incorporated on September 15, 1998Shareholders:
  
  FirstCity Commercial Corporation
  
  200 Shares
  
  (50
  )%Name:
  
  FCS Creamer GP, Corp.Jurisdiction:
  
  Texas, incorporated on April 28, 1999Shareholders:
  
  FirstCity Commercial Corporation
  
  200 Shares
  
  (50
  )%Name:
  
  FCS Wildhorse GP, Corp.Jurisdiction:
  
  Texas, incorporated on June 14, 1999Shareholders:
  
  FirstCity Commercial Corporation
  
  200 Shares
  
  (50
  )%Name:
  
  FCS Lancaster GP Corp.Jurisdiction:
  
  Texas, incorporated on December 21, 2005Shareholders:
  
  FirstCity Commercial Corporation
  
  200 Shares
  
  (50
  )%Name:
  
  Imperial Partners GP Corp.Jurisdiction:
  
  Texas, incorporated on October 4, 2000Shareholder:
  
  FirstCity Commercial Corporation
  
  400 Shares
  
  (100
  )%Name:
  
  MinnTex GP Corp.Jurisdiction:
  
  Texas, incorporated on March 11, 2002Shareholder:
  
  FirstCity Holdings Corporation of Minnesota
  
  200 Shares
  
  (50
  )%C.
  
  Limited Partnerships:Name:
  
  WAMCO XX, Ltd.Jurisdiction:
  
  TexasPartners:
  
  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, 1996Partners:
  
  WAMCO
  XXIV 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:
  
  First
  C Partners, L.P.Jurisdiction:
  
  Texas,
  certificate filed on March 6, 1998Partners:
  
  First
  C Corp.
  
  General
  
  2
  %FirstCity
  Commercial Corporation
  
  Limited
  
  98
  %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:
  
  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
  %  5


Name:
  
  FirstGreen LPJurisdiction:
  
  Delaware, August 29, 2003Partners:
  
  FirstGreen GP LLC
  
  General
  
  1.00
  %FirstCity Commercial Corporation
  
  Limited
  
  99.00
  %Name:
  
  FC Washington I LPJurisdiction:
  
  Texas, April 20, 2005Partners:
  
  FC Washington GP LLC
  
  General
  
  1.00
  %FirstCity Commercial Corporation
  
  Limited
  
  99.00
  %Name:
  
  WAMCO
  XXVII, Ltd.Jurisdiction:
  
  Texas,
  certificate filed on September 20, 1999Partners:
  
  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, 2001Partners:
  
  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, 2003Partners:
  
  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, 2006Partners:
  
  WAMCO 80 of Texas, Inc.
  
  General
  
  1.0
  %FirstCity Commercial Corporation
  
  Limited
  
  79.5
  %Name:
  
  EuroTex Partners, Ltd.Jurisdiction:
  
  Texas; formed on June 18, 2004Partners:
  
  EuroTex Partners GP Corp.
  
  General
  
  0.50
  %FirstCity Commercial Corporation
  
  Limited
  
  99.50
  %Name:
  
  Brazos River Partnership One, L.P.Jurisdiction:
  
  Texas; formed on September 28, 2006Partners:
  
  FirstCity Commercial Corporation
  
  Limited
  
  33-1/3
  %Name:
  
  FirstVal 1, Ltd.Jurisdiction:
  
  Texas, certificate filed on September 14, 2006Partners:
  
  FirstVal 1 GP Corp.
  
  General
  
  1.0
  %FirstCity Commercial Corporation
  
  Limited
  
  49.5
  %Name:
  
  FCS Wood, Ltd.Jurisdiction:
  
  Texas, certificate filed on September 15, 1998Partners:
  
  FCS Wood GP Corp.
  
  General
  
  0.50
  %FirstCity Commercial Corporation
  
  Limited
  
  49.75
  %Name:
  
  FCS
  Creamer, Ltd.Jurisdiction:
  
  Texas,
  certificate filed on April 28, 1999Partners:
  
  FCS
  Creamer GP, Corp.
  
  General
  
  0.50
  %FirstCity
  Commercial Corporation
  
  Limited
  
  49.75
  %Name:
  
  FCS Wildhorse, Ltd.Jurisdiction:
  
  Texas, certificate filed on June 14, 1999Partners:
  
  FCS Wildhorse GP, Corp.
  
  General
  
  0.50
  %FirstCity Commercial Corporation
  
  Limited
  
  49.75
  %Name:
  
  FCS Lancaster, Ltd.Jurisdiction:
  
  Texas, certificate filed on December 21, 2005Partners:
  
  FCS Lancaster GP Corp.
  
  General
  
  0.50
  %FirstCity Commercial Corporation
  
  Limited
  
  49.75
  %Name:
  
  Imperial Partners, Ltd.Jurisdiction:
  
  Texas, certificate filed on October 4, 2000Partners:
  
  Imperial Partners GP Corp.
  
  General
  
  0.50
  %FirstCity Commercial Corporation
  
  Limited
  
  99.50
  %  6


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:
  
  Strategic
  Mexican Investment Partners 2, L.P.Jurisdiction:
  
  Texas,
  certificate filed on July 3, 2001Partners:
  
  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:
  
  TexasShareholder:
  
  FirstCity
  Commercial Corporation
  
  1,800 Shares
  
  (50
  )%Name:
  
  SOWAMCO XXIV
  of Texas, Inc.Jurisdiction:
  
  Texas,
  incorporated on December 15, 1993Shareholder:
  
  FirstCity
  Commercial Corporation
  
  200 Shares
  
  (50
  )%Name:
  
  FH
  Properties of Texas, Inc.Jurisdiction:
  
  Texas,
  incorporated on November 19, 1997Shareholder:
  
  FirstCity
  Commercial Corporation
  
  200 Shares
  
  (100
  )%Name:
  
  MA
  Realco, Inc.Jurisdiction:
  
  Texas,
  incorporated on July 25, 1995Shareholder:
  
  FirstCity
  Commercial Corporation
  
  200 Shares
  
  (100
  )%Name:
  
  Paloma Asset
  Corp.Jurisdiction:
  
  Texas,
  incorporated on November 26, 1996Shareholder:
  
  FirstCity
  Commercial Corporation
  
  500 Shares
  
  (50
  )%Name:
  
  SV Asset
  Corp.Jurisdiction:
  
  Texas,
  incorporated on July 21, 1995Shareholder:
  
  FirstCity
  Commercial Corporation
  
  200 Shares
  
  (100
  )%Name:
  
  SVD Realty
  Asset Corp.Jurisdiction:
  
  Texas,
  incorporated on June 6, 1997Shareholder:
  
  FirstCity
  Commercial Corporation
  
  400 Shares
  
  (100
  )%Name:
  
  SOWAMCO XXV
  of Texas, Inc.Jurisdiction:
  
  Texas,
  incorporated on May 26, 1995Shareholders:
  
  FirstCity
  Commercial Corporation
  
  200 Shares
  
  (50
  )%Name:
  
  SOWAMCO
  XXVII of Texas, Inc.Jurisdiction:
  
  Texas,
  incorporated on January 18, 2000Shareholders:
  
  WAMCO XXVII,
  Ltd.
  
  400 Shares
  
  (100
  )%Name:
  
  SOWAMCO
  XXVIII of Texas, Inc.Jurisdiction:
  
  Texas,
  incorporated on March 24, 2000Shareholders:
  
  WAMCO 30,
  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 30,
  Ltd.
  
  400 Shares
  
  (100
  )%Name:
  
  SOWAMCO 31
  of Texas, Inc.Jurisdiction:
  
  Texas,
  incorporated on August 20, 2003Shareholders:
  
  WAMCO 30,
  Ltd.
  
  400 Shares
  
  (100
  )%Name:
  
  SOWAMCO 33
  of Texas, Inc.Jurisdiction:
  
  Texas,
  incorporated on December 10, 2003Shareholders:
  
  WAMCO 30,
  Ltd.
  
  400 Shares
  
  (100
  )%  7


Name:
  
  SOWAMCO 34
  of Texas, Inc.Jurisdiction:
  
  Texas,
  incorporated on March 21, 2005Shareholders:
  
  WAMCO 30,
  Ltd.
  
  400 Shares
  
  (100
  )%Name:
  
  SOWAMCO 35
  of Texas, Inc.Jurisdiction:
  
  Texas,
  incorporated on March 14, 2006Shareholders:
  
  WAMCO 30,
  Ltd.
  
  400 Shares
  
  (100
  )%Name:
  
  SOWAMCO 80
  of Texas, Inc.Jurisdiction:
  
  Texas,
  incorporated on June 1, 2006Shareholders:
  
  WAMCO 80,
  Ltd.
  
  400 Shares
  
  (100
  )%Name:
  
  FirstVal
  Properties 1 GP Corp.Jurisdiction:
  
  Texas,
  incorporated on September 15, 2006Shareholder:
  
  FirstCity
  Commercial Corporation
  
  200 Shares
  
  (50
  )%Name:
  
  FirstVal
  Properties 2 GP Corp.Jurisdiction:
  
  Texas;
  incorporated on November 21, 2008Shareholder:
  
  FirstCity
  Commercial Corporation
  
  200 Shares
  
  (50
  )%Name:
  
  MCSFC Realty
  GP Corp.Jurisdiction:
  
  Texas,
  incorporated on September 19, 2000Shareholder:
  
  FH Partners
  LLC
  
  1,000 Shares
  
  (100
  )%Name:
  
  WH Realty GP
  Corp.Jurisdiction:
  
  Texas,
  incorporated on June 20, 2001Shareholder:
  
  FCS
  Wildhorse, Ltd.
  
  1,000 Shares
  
  (100
  )%  E.REO Affiliate Limited
Partnerships:  Name:
  
  SOWAMCO XX, Ltd.Jurisdiction:
  
  TexasPartners:
  
  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, 1993Partners:
  
  SOWAMCO XXIV of Texas, Inc.
  
  General
  
  2
  %WAMCO XXIV, Ltd.
  
  Limited
  
  98
  %Name:
  
  FH Properties, L.P.Jurisdiction:
  
  Texas, certificate filed on
  November 19, 1997Partners:
  
  FH Properties of Texas, Inc.
  
  General
  
  2
  %FH Partners LLC
  
  Limited
  
  98
  %Name:
  
  MA Realco Partners, Ltd.Jurisdiction:
  
  Texas, certificate filed on July 25,
  1995Partners:
  
  MA Realco, Inc.
  
  General
  
  2
  %SV Asset Partners, LP
  
  Limited
  
  98
  %Name:
  
  Paloma Realty, Ltd.Jurisdiction:
  
  Texas, certificate filed on
  November 26, 1996Partners:
  
  Paloma Asset Corp.
  
  General
  
  2
  %WAMCO 30 Ltd.
  
  Limited
  
  98
  %Name:
  
  SV Asset Partners, LPJurisdiction:
  
  Texas, certificate filed on July 25,
  1995Partners:
  
  SV Asset Corp.
  
  General
  
  2
  %FirstCity Commercial Corporation
  
  Limited
  
  98
  %Name:
  
  SVD Realty, L.P.Jurisdiction:
  
  Texas, certificate filed on June 6,
  1997Partners:
  
  SVD Realty Asset Corp.
  
  General
  
  2
  %FirstCity Commercial Corporation
  
  Limited
  
  98
  %  8


Name:
  
  SOWAMCO XXV,
  Ltd.Jurisdiction:
  
  Texas, filed
  Certificate of Limited Partnership on May 26, 1995Partners:
  
  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, 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 30,
  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 30,
  Ltd.
  
  Limited
  
  99
  %Name:
  
  SOWAMCO 31,
  Ltd.Jurisdiction:
  
  Texas, filed
  Certificate of Limited Partnership on August 20, 2003Partners:
  
  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, 2003Partners:
  
  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, 2005Partners:
  
  SOWAMCO 34
  of Texas, Inc.
  
  General
  
  1
  %WAMCO 30,
  Ltd.
  
  Limited
  
  99
  %Name:
  
  SOWAMCO 35,
  Ltd.Jurisdiction:
  
  Texas, filed
  Certificate of Limited Partnership on March 14, 2006Partners:
  
  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, 2006Partners:
  
  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, 2006Partners:
  
  FirstVal
  Properties 1 GP Corp.
  
  General
  
  1.0
  %FirstCity
  Commercial Corporation
  
  Limited
  
  49.5
  %Name:
  
  FirstVal
  Properties 2, Ltd.Jurisdiction:
  
  Texas;
  formed on November 21, 2008Partners:
  
  FirstVal
  Properties 2 GP Corp.
  
  General
  
  1.0
  %FirstCity
  Commercial Corporation
  
  Limited
  
  49.5
  %Name:
  
  MCSFC
  Realty, Ltd.Jurisdiction:
  
  Texas,
  certificate filed on September 19, 2000Partners:
  
  MCSFC Realty
  GP corp.
  
  General
  
  0.5
  %FH Partners
  LLC
  
  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
  %  9


F.REO Affiliate Corporations:  Name:
  
  FH Golf
  Properties I Inc.Jurisdiction:
  
  Michigan;
  formed on February 15, 2008Shareholder:
  
  FH Partners
  LLC
  
  1,000 Shares
  
  100
  %Name:
  
  MPortfolio
  Property Corp.Jurisdiction:
  
  Texas;
  formed on April 21, 2008Shareholder:
  
  MPortfolio
  Corporation
  
  1,000 Shares
  
  100
  %  3.FirstCity Europe Corporation.  The following corporations, limited
partnerships, limited liability companies and other entities are entities in
which FirstCity Europe Corporation or certain of its subsidiaries own an equity
interest.  A.Corporations and other
Entities:  Name:
  
  UBN, Societe
  AnonymeJurisdiction:
  
  FranceOwnership:
  
  P.R.L.
  Developpement, S.A.S.
  
  
  
  100
  %Name:
  
  SAI, Societe
  Auxiliaire ImmobiliereJurisdiction
  
  FranceShareholder:
  
  FirstCity
  Europe Corporation
  
  
  
  22.5
  %Name:
  
  HMCS
  Investment GmbHJurisdiction:
  
  GermanyOwnership:
  
  MCS et
  Associes, S.A.
  
  
  
  16.4
  %FirstCity Europe Corporation
  
  
  
  16.3
  %Name:
  
  HMCS
  Portfolio GmbHJurisdiction:
  
  Germany;
  formed August, 2006Ownership:
  
  HMCS
  Investment GmbH
  
  
  
  100
  %  4.FirstCity Mexico, Inc.The following corporations, limited
partnerships, limited liability companies and other entities are entities in
which FirstCity Mexico, Inc. or certain of its subsidiaries own an equity
interest.  Name:
  
  Strategic
  Mexican Investment Partners, L.P.Jurisdiction:
  
  Texas,
  certificate filed on May 8, 2001Partners:
  
  FirstCity
  Mexico, Inc.
  
  General
  
  .4251287
  %FirstCity Commercial Corporation
  
  Limited
  
  99.5748713
  %Name:
  
  Bidmex
  Holding, LLCJurisdiction:
  
  Delaware,
  formed June 6, 2006Manager:
  
  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, LLCJurisdiction:
  
  Delaware,
  formed on January 16, 2008Manager:
  
  FirstCity
  Mexico, Inc.Member:
  
  Strategic
  Mexican Investment Partners, L.P. Tranche B
  
  
  
  15.0
  %Name:
  
  Bidmex
  Acquisition, LLCJurisdiction:
  
  Delaware,
  formed June 6, 2006Manager & Member:
  
  Bidmex
  Holding LLC
  
  
  
  100
  %Name:
  
  Resmex, LLCJurisdiction:
  
  Delaware,
  incorporated December 11, 1998Manager:
  
  FirstCity
  Mexico, Inc.Member:
  
  Strategic
  Mexican Investment Partners, L.P.
  
  
  
  19.45
  %  10


Name:
  
  Residencial Oeste, S.A. de C.V.Jurisdiction:
  
  Mexico, incorporated December 16, 1998Shareholder:
  
  Resmex, LLC
  
  (100
  )%Name:
  
  Residencial Oeste 2, S. de R.L. de C.V.Jurisdiction:
  
  Mexico, incorporated July 25, 2006Shareholder:
  
  Bidmex Acquisition, LLC
  
  (100
  )%Name:
  
  Namex, LLCJurisdiction:
  
  Delaware, formed December 10, 1999Manager:
  
  FirstCity Mexico, Inc.Member:
  
  Bidmex Holding, LLC
  
  (100
  )%Name:
  
  Cartera en Administracion y Cobranza, S.A. de C.V.Jurisdiction:
  
  Mexico, incorporated December 13, 1999Shareholder:
  
  Namex, LLC
  
  (100
  )%Name:
  
  BIDMEX, LLCJurisdiction:
  
  Delaware, formed January 28, 2000Manager:
  
  FirstCity Mexico, Inc.Member:
  
  Bidmex Holding, LLC
  
  (100
  )%Name:
  
  Administracion de Carteras Nacionales, S.A. de C.V.Jurisdiction:
  
  Mexico, incorporated January, 2000Shareholder:
  
  BIDMEX, LLC
  
  (100
  )%Name:
  
  BIDMEX II, LLCJurisdiction:
  
  Delaware, formed on May 9, 2000Manager:
  
  FirstCity Mexico, Inc.Member:
  
  Bidmex Holding, LLC
  
  (100
  )%Name:
  
  Administracion 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, 1999Shareholder:
  
  BIDMEX II, LLC
  
  (100
  )%Name:
  
  BIDMEX 3, LLCJurisdiction:
  
  Delaware, formed on October 20, 2000Manager:
  
  FirstCity Mexico, Inc.Member:
  
  Bidmex Holding, LLC
  
  (100
  )%Name:
  
  Administracion de Carteras Empresariales, S. de R.L. de C.V.Jurisdiction:
  
  Mexico, formed on November 13, 2000Shareholder:
  
  BIDMEX 3, LLC
  
  (100
  )%Name:
  
  BIDMEX 4, LLCJurisdiction:
  
  Delaware, formed on March 12, 2001Manager:
  
  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, 2001Shareholder:
  
  BIDMEX 4, LLC
  
  (100
  )%Name:
  
  BIDMEX 5, LLCJurisdiction:
  
  Delaware, formed on April 30, 2001Manager:
  
  FirstCity Mexico, Inc.Member:
  
  Bidmex Holding, LLC
  
  (100
  )%Name:
  
  Cobranza Internacional de Carteras, S. de R.L. de C.V.Jurisdiction:
  
  Mexico, formed on May 15, 2001Shareholder:
  
  BIDMEX 5, LLC
  
  (100
  )%Name:
  
  BIDMEX 6, LLCJurisdiction:
  
  Delaware, formed on May 31, 2001Manager and Member:
  
  FirstCity Mexico, Inc.
  
  12.564
  %Member:
  
  Strategic Mexican Investment Partners 2, L.P.
  
  10.000
  %  11


Name:
  
  Recuperacion de Carteras Mexicanas, S. de R.L. de C.V.Jurisdiction:
  
  Mexico, formed on June 21, 2001Shareholder:
  
  BIDMEX 6, LLC
  
  100
  %Name:
  
  BIDMEX 7, LLCJurisdiction:
  
  Delaware, formed on May 31, 2001Manager:
  
  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, 2002Shareholder:
  
  BIDMEX 7, LLC
  
  100
  %Name:
  
  BIDMEX 8, LLCJurisdiction:
  
  Delaware, formed on May 31, 2001Manager:
  
  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, 2002Shareholder:
  
  BIDMEX 8, LLC
  
  100
  %Name:
  
  BIDMEX 9, LLCJurisdiction:
  
  Delaware, formed on January 7, 2003Manager:
  
  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 , 2004Shareholder:
  
  BIDMEX 9, LLC
  
  100
  %Name:
  
  BIDMEX 10, LLCJurisdiction:
  
  Delaware, formed on July 8, 2004Manager:
  
  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, 2004Shareholder:
  
  BIDMEX 10, LLC
  
  100
  %Name:
  
  BIDMEX XI, LLCJurisdiction:
  
  Delaware, formed on July 7, 2004Manager:
  
  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, 2005Shareholder:
  
  BIDMEX XI, LLC
  
  100
  %Name:
  
  BMX Holding II, LLCJurisdiction:
  
  Delaware; formed on March 23, 2007Manager:
  
  FirstCity Mexico, Inc.Member:
  
  FirstCity Mexico, Inc.
  
  8.0
  %Name:
  
  BMX Holding III, LLCJurisdiction:
  
  Delaware; formed on June 26, 2008Member:
  
  FirstCity Mexico, Inc.
  
  58
  %Name:
  
  BMX Holding III Corp.Jurisdiction:
  
  Delaware; formed on June 26, 2008Shareholder:
  
  BMX Holding III, LLC
  
  100
  %Name:
  
  Recuperacion de Comerico Interior S. de R.L. de C.V.Jurisdiction:
  
  MexicoShareholders:
  
  BMX Holding II, LLC
  
  98.7
  %FirstCity Mexico, Inc.
  
  1.0
  %FirstCity Mexico S.A. de C.V.
  
  0.3
  %  12


Name:
  
  Recuperacion de Comerico Interior 1 S. de R.L. de C.V.Jurisdiction:
  
  Mexico; formed on April 24, 2008Shareholder:
  
  FirstCity Mexico, Inc.
  
  100
  %Name:
  
  Recuperacion y Administracion de Hipotecas, S. de R.L. de C.V.Jurisdiction:
  
  Mexico, formed on June 15, 2007Shareholders:
  
  FirstCity Mexico, Inc.
  
  100
  %Name:
  
  Soluciones de Adevdos de Consumo, S. de R.L. de C.V.Jurisdiction:
  
  Mexico, formed on June 15, 2007Shareholders:
  
  FirstCity Mexico, Inc.
  
  100
  %Name:
  
  FC Acquisitions S. de R.L. de C.V.Jurisdiction:
  
  Mexico, formed October 23, 2007Shareholders:
  
  FirstCity Mexico, Inc.
  
  100
  %Name:
  
  FC Acquisitions I S. de R.L. de C.V.Jurisdiction:
  
  Mexico, formed October 23, 2007Shareholders:
  
  FirstCity Mexico, Inc.
  
  100
  %Name:
  
  FC Portfolio de Recuperacion S. de R.L. de C.V.Jurisdiction:
  
  Mexico, formed October 29, 2007Shareholders:
  
  FirstCity Mexico, Inc.Name:
  
  FC Portfolio de Recuperacion I, S. de R.L. de C.V.Jurisdiction:
  
  Mexico, formed October 29, 2007Shareholders:
  
  FirstCity Mexico, Inc.Name:
  
  FC Portfolio de Recuperacion II, S. de R.L. de C.V.Jurisdiction:
  
  Mexico; formed on February 13, 2008Shareholder:
  
  FirstCity Mexico, Inc.
  
  100
  %Name:
  
  FC Portfolio de Recuperacion III, S. de R.L. de C.V.Jurisdiction:
  
  Mexico; formed on February 13, 2008Shareholder:
  
  FirstCity Mexico, Inc.
  
  100
  %Name:
  
  Solucion de Activos Residentiales 1, S. de R.L. de C.V.Jurisdiction:
  
  Mexico; formed April, 2008Shareholder:
  
  FirstCity Mexico, Inc.
  
  100
  %Name:
  
  El Consorcio Recovery FirstCity BNV, S.A.Jurisdiction:
  
  UruguayShareholder:
  
  FirstCity Mexico, Inc.
  
  15.35
  %Name:
  
  Capital Recovery (Brazil), LLCJurisdiction:
  
  Delaware; formed on December 28, 2007Member:
  
  FirstCity Mexico, Inc.
  
  20
  %Name:
  
  Capital Recovery (Brazil) Corp.Jurisdiction:
  
  Delaware; formed December, 2007Shareholder:
  
  Capital Recovery (Brazil), LLC
  
  100
  %Name:
  
  Brazil Capital Recovery I  Companhia Securitizadora de Creditos
  FinanceirosJurisdiction:
  
  Brazil; formed December, 2007Shareholders:
  
  Capital Recovery (Brazil), LLC
  
  99.0
  %Capital Recovery (Brazil) Corp.
  
  1.0
  %Name:
  
  Brazil Capital Recovery II  Companhia Securitizadora de Creditos
  FinanceirosJurisdiction:
  
  Brazil; formed December, 2007Shareholders:
  
  Capital Recovery (Brazil), LLC
  
  99.0
  %Capital Recovery (Brazil) Corp.
  
  1.0
  %  5.
  
  FirstCity Chile Limitada. The following
  corporations, limited partnerships, limited liability companies and other
  entities are entities in which FirstCity Chile Limitada or certain or its
  subsidiaries own an equity interest.  Name:
  
  FirstCity NPL S.A.Jurisdiction:
  
  Chile, formed on February 9, 2006Shareholder:
  
  FirstCity Chile II, Limitada
  
  60
  %  13


Name:
  
  NPL Fund One, Private Investment FundJurisdiction:
  
  ChileManager:
  
  FirstCity NPL, S.A.Quotaholder:
  
  NPL Investments, S.A.
  
  100
  %Name:
  
  Servicios Integrales de Cobranza, S.A.Jurisdiction:
  
  ChileShareholder:
  
  FirstCity Chile II, Limitada
  
  50
  %Name:
  
  NPL Investments, S.A. (formerly Inversiones
  Hipotecarias S.A.)Jurisdiction:
  
  Chile, formed on February 17, 2006Shareholder:
  
  Servicios Integrales de Cobranza, S.A.
  
  100
  %Name:
  
  Inversiones Crediticias S.A.Jurisdiction:
  
  Chile, formed on February 17, 2006Shareholder:
  
  FirstCity Chile II, Limitada
  
  50
  %Name:
  
  Santiago Asset Acquisition Company One, S.A.Jurisdiction:
  
  ChileShareholders:
  
  FirstCity Chile II, Limitada
  
  33 1/3
  %Servicios Integrales de Cobranza, S.A.
  
  33 1/3
  %Name:
  
  NPL Fund Two, Private Investment FundJurisdiction:
  
  ChileShareholders:
  
  FirstCity Chile II Limitada
  
  13
  %NPL Investments, S.A.
  
  17
  %  6.FirstCity International Corporation. The following corporations, limited partnerships, limited
liability companies and other entities are entities in which FirstCity International
Corporation or certain or its subsidiaries own an equity interest.  A.Corporations and other
Entities:  Name:
  
  UHR
  LimitedJurisdiction:
  
  England
  and Wales; incorporated March 15, 1999Shareholders:
  
  FirstCity
  International Corporation
  
  200
  B Shares
  
  (20
  )%MCS
  et Associés, S.A.
  
  200
  C Shares
  
  (20
  )%Name:
  
  NEVVS LimitedJurisdiction:
  
  England and Wales; November 27, 2000Shareholders:
  
  FirstCity International Corporation
  
  250 B Shares
  
  (25
  )%MCS et Associés, SA
  
  250 C Shares
  
  (25
  )%Name:
  
  WHBE LimitedJurisdiction:
  
  England and Wales; December 13, 2001Shareholders:
  
  FirstCity International Corporation
  
  100 B Shares
  
  (10
  )%MCS et Associés, SA
  
  250 C Shares
  
  (25
  )%Name:
  
  WOX LimitedJurisdiction:
  
  England and Wales; May 27, 2002Shareholders:
  
  FirstCity International Corporation
  
  200 C Shares
  
  (20
  )%MCS et Associés, SA
  
  250 B Shares
  
  (25
  )%Name:
  
  CRY LimitedJurisdiction:
  
  England and Wales; July 30, 2002Shareholders:
  
  FirstCity International Corporation
  
  200 B Shares
  
  (20
  )%MCS et Associés, SA
  
  200 C Shares
  
  (20
  )%Name:
  
  CTY LimitedJurisdiction:
  
  England and Wales; December 18, 2002Shareholders:
  
  FirstCity International Corporation
  
  200 B Shares
  
  (20
  )%MCS et Associés, SA
  
  250 C Shares
  
  (25
  )%Name:
  
  WOL LimitedJurisdiction:
  
  England and Wales; June 11, 2003Shareholders:
  
  FirstCity International Corporation
  
  225 C Shares
  
  (22.5
  )%MCS et Associés, SA
  
  225 B Shares
  
  (22.5
  )%  14


Name:
  
  WOD LimitedJurisdiction:
  
  England and Wales; November 12, 2003Shareholders:
  
  FirstCity International Corporation
  
  225 C Shares
  
  (22.5
  )%MCS et Associés, SA
  
  225 B Shares
  
  (22.5
  )%Name:
  
  FG Portfolio LimitedJurisdiction:
  
  England and Wales; June 8, 2004Shareholders:
  
  FirstCity International Corporation
  
  225 C Shares
  
  (22.5
  )%MCS et Associés, SA
  
  225 B Shares
  
  (22.5
  )%Name:
  
  HMCS-ECK LimitedJurisdiction:
  
  England and Wales; October 27, 2005Shareholders:
  
  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 LimitedJurisdiction:
  
  England and Wales; December 14, 2005Shareholders:
  
  FirstCity International Corporation
  
  300 C Shares
  
  (30
  )%MCS et Associés, SA
  
  200 B Shares
  
  (20
  )%HMCS Investment GmbH
  
  10 D Shares
  
  (1
  )%Name:
  
  EHCTY LimitedJurisdiction:
  
  England and Wales; September 20, 2006Shareholders:
  
  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 LimitedJurisdiction:
  
  England and Wales; October 16, 2006Shareholders:
  
  FirstCity International Corporation
  
  300 B Shares
  
  (30
  )%MCS et Associés, SA
  
  200 C Shares
  
  (20
  )%Name:
  
  CVI GVF Luxembourg Thirteen S.a.r.l.Jurisdiction:
  
  LuxembourgOwnership:
  
  FirstCity International Corporation
  
  
  
  30
  %MCS et Associes, SA
  
  
  
  20
  %Name:
  
  CVI GVF (Lux) Securitisation S.a.r.l.; Compartment SprockhovelJurisdiction:
  
  Luxembourg; formed on September 6, 2006Owners:
  
  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, 2007Owners:
  
  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, 2007Owners:
  
  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 LimitedJurisdiction:
  
  England and Wales: December 17, 2007Shareholders:
  
  FirstCity International Corporation
  
  450 A Shares
  
  45
  %MCS et Associes, S.A.
  
  450 B Shares
  
  45
  %HMCS Portfolio GmbH
  
  100 C Shares
  
  10
  %  7.FirstCity Servicing
Corporation.  The following corporations,
limited partnerships, limited liability companies and other entities are
entities in which FirstCity Servicing Corporation or certain of its
subsidiaries own an equity interest.  15


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, 1998Shareholders:
  
  FirstCity Servicing Corporation
  
  99 Shares
  
  (99
  )%FirstCity Financial Corporation
  
  1 Share
  
  (1
  )%Name:
  
  MCS et Associés, S.A.Jurisdiction:
  
  France, Societe AnonymeShareholders:
  
  FirstCity Servicing Corporation
  
  121,050 Shares
  
  (11.9
  )%James T. Sartain
  
  100 SharesName:
  
  Compagnie Transatlantique de PortefeuillesJurisdiction:
  
  France, Societe Par Actions Simplifiee, July 22, 1997Shareholder:
  
  MCS et Associes, S.A.
  
  5,000 Shares
  
  (33
  )%Name:
  
  Servicios Efectivos de Recuperacion, S. de R.L. de C.V.Jurisdiction:
  
  Mexico; November 16, 2001Shareholders:
  
  FirstCity Mexico S.A. de C.V.
  
  49,999 Shares
  
  (100
  )%FirstCity Servicing Corporation
  
  1 ShareName:
  
  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 Consumer Servicing CorporationJurisdiction:
  
  Texas, incorporated on August 2, 2003Shareholder:
  
  FirstCity Servicing Corporation
  
  400 Shares
  
  (100
  )%Name:
  
  FirstCity Servicing (Brazil), LLCJurisdiction:
  
  Delaware; formed on November 29, 2007Member:
  
  FirstCity Servicing Corporation
  
  
  
  100
  %Name:
  
  FirstCity Investimentos Ltda.Jurisdiction:
  
  Brazil; formed on January 16, 2008Quotaholders:
  
  FirstCity Servicing (Brazil) LLC
  
  
  
  99
  %FirstCity Servicing Corporation
  
  
  
  1
  %  8.FirstCity Consumer Lending
Corporation.  The following corporations,
limited partnerships, limited liability companies and other entities are
entities in which FirstCity Consumer Lending Corporation or certain of its
subsidiaries own an equity interest.  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, 1996Shareholder:
  
  SL Funding Corporation
  
  1,000 Shares
  
  (100
  )%  9.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 certain of 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
  )%Name:
  
  Valhalla
  Holdings Corp.Jurisdiction:
  
  Delaware,
  incorporated on June 25, 1998Shareholder:
  
  FC
  Capital Corp.
  
  1,000
  Shares
  
  (100
  )%  16