$106 million non-performing loan portfolio hits the industry

Purchasers aiming to acquire a pool of non-performing loans have that chance, as a $106 million pool of non-performing loans is now around the marketplace, as outlined by MountainView, which is acting because the exclusive advisor for the sale.

Per details offered by MountainView, the NPL pool consists of 641 loans that carry an unpaid principal balance of $106,825,324. The loans carry a broker value opinion of $96,441,220.

Of your 641 loans in the pool, 85% are for single-family residential properties.

In line with MountainView, the leading states inside the NPL pool are New Jersey (18%), New York (11%), Florida (8%), Maryland (6%) and Illinois (5%).

MountainView will not be disclosing the seller, but the advisor mentioned that the loans are being sold by a residential mortgage loan asset manager.

“Our client continues to become probably the most active players inside the distressed residential entire loan space,” said Jonas Roth, a managing director at MountainView and among the lead advisors around the sale. “Over the final handful of years, they have come to be a programmatic seller of each NPLs and RPLs, and this pool represents a smaller subset of their overall portfolio.”