A portfolio of nearly $5 billion in Department of Housing and Urban Development home loans is up for sale.
The offering involves multiple pools of non-performing loans that have an aggregate $4.8 billion in unpaid principal balance.
Mortgages involved in the sale are secured by residential properties across the country and will be sold in two parts.
DebtX is selling the loans on behalf of SEBA Professional Services, according to a news release.
The first part of the HUD SFLS 2014-2 loan sale include around 23,200 loans for $4.0 billion. Sixteen pools ranging from $0.093 billion to $1 billion are collateralized by properties across the country, though one pool has a concentration in the Southwest.
The bid data on the first part is June 11.
The second part of the loan sale includes roughly 4,800 Neighborhood Stabilization Outcomes Pool loans for $0.8 billion.
Those mortgages are secured by properties located in Atlanta; Chicago; Cumberland County, N.J.; Detroit; Miami; Philadelphia; San Antonio, Texas; and San Bernardino County, Calif.
The bid date for the second part is June 25.
Boston-based DebtX reports that it has offered more than 72,000 single-family non-performing loans for HUD and sold $17 billion in loans for the agency since September 2012.
“Once again, we expect strong investor interest and bidding as we reach the 100,000-loan milestone with HUD,” DebtX Chief Executive Officer Kingsley Greenland said in the announcement.
Investors can place bids for both offerings online at www.debtx.com.
