A pool of non-performing residential loans are being offered for sale to the highest bidder. More than $100 million in mortgages are involved.
The whole-loan transaction includes a pool of 641 non-performing first-lien mortgages. The collective unpaid principal balance is $107 million.
New Jersey is the location of properties securing 18 percent of the mortgages, and 11 percent of the loans are secured by New York properties.
No other state has a double-digit concentration.
MountainView Residential Whole Loan Transaction Advisory Services, the exclusive sale advisor, announced the deal Monday.
The seller is
a residential mortgage loan asset manager.
The value of the properties securing the loans is $96 million based on broker price opinions.
MountainView noted that 85 percent of the loans are secured by single-family residential properties.
“Our client continues to be one of the most active players in the distressed residential whole loan space,” MountainView Managing Director Jonas Roth said in the announcement. “Over the last few years, they have become a programmatic seller of both NPLs and RPLs, and this pool represents a small subset of their overall portfolio.”
Bids on the offering are due by Nov. 8.
Interested parties can contact Troy Rusniak at 303.870.8235 or [email protected].
