A portfolio of junior lien mortgages for more than $0.1 billion has been acquired by an institution. The broker in the transaction noted stronger demand for second-lien pools.
A portfolio of 2,500 performing second liens with an aggregate principal balance of $110 million has traded hands, MountainView Capital Group reported Wednesday.
The portfolio includes closed-end loans and home-equity lines-of-credit. The loans are secured by properties across the country.
MountainView represented the buying institution in the transaction. The secondary marketing advisor claims to have “a large network of buyers who purchase at aggressive market levels.”
A MountainView spokesman declined to disclose the discount on the transaction.
Jonas Roth, a managing director for the Denver-based broker, noted in the statement that demand is increasing for second liens.
“We continue to see robust activity in this sector as sellers recognize true value in the disposition of these assets,” Roth stated.
