MountainView Financial Solutions is facilitating the sale of a pool of 1,667 first‐ and second‐lien performing and non‐performing loans with a total balance of $97.4 million.
The pool is being segmented into four sub‐pools: 1,060 second‐lien performing loans with a total balance of $47.9 million; 294 first‐ lien performing loans with a total balance of $28.4 million; 265 secured, second‐lien non‐performing loans with a total balance of $15.4 million; and 48 first‐lien non‐performing loans with a total balance of $5.7 million.
Bidders have the flexibility to bid on the entire pool or any of the four sub‐pools.
“It’s rare to see such a large amount of second‐lien performing loans in the market, so we expect a high level of interest in this sub‐ pool from banks and other frequent buyers of seconds,” says Jonas Roth, a managing director at MountainView and one of the lead advisors on the sale, in a release. “We also expect aggressive competition for the other sub‐pools from investors who focus on specific product types. Due to high demand, seasoned residential assets, whether performing or non‐performing, are getting bid to record low level yields.”
The seller is an east coast‐based fund.
MountainView, a Situs company, has set April 3 as the bid date.
