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Mortgage Loan Exchanges Launch

Mortgage News

Three firms recently launched separate offerings that help connect sellers of mortgages to potential investors.

A partnership announced this month between DebtMarket and First Associates Inc. promises to help loan sellers transfer servicing more quickly after a loan portfolio is sold. Sellers list loan portfolios for sale on DebtMarket.

Customers of First Associates, a loan servicer, will have free access to DebtMarket’s marketplace and only pay a fee after the closing of a portfolio sale.

DebtMarket only announced its launch in August. It expects to help an estimated 60,000 loan origination firms list and sell their portfolios.

Also launching last month was LoanMLS Inc., which said in a news release that it is an online loan exchange providing a central information point for buyers and sellers. Users pay to post their listings, while investors can browse available loans and place bids directly with the sellers for free.

LoanMLS said it lists loan-to-values, asking prices, home values and performance histories.

In July, RealtyNoteBid.com was launched to help lenders unload non-performing loans before they foreclose. The service operates as a simple platform for buyers and sellers.

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