The U.S. Department of Housing and Urban Development (HUD) has engaged SEBA Professional Services, a DC-based consulting firm, and DebtX, a full-service loan sale advisor, to market a $2.3 billion portfolio of non-performing residential loans. The loan sale, titled HUD SFLS 2014-2 Part 2, includes roughly 15,000 non-performing single-family mortgage loans with a total unpaid principal balance of $2.3 billion, according to a HousingWire report. According to DebtX, the loans will be sold in eight national pools, with the pools ranging in size from $94.5 million to $804.5 million. The loans are collateralized by properties across the U.S.
"Investor demand for HUD loans remains exceptionally strong, and we expect to see a high level of interest in this portfolio," said DebtX CEO Kingsley Greenland. "DebtX is pleased to support HUD in its efforts to systematically manage its exposure to non-performing residential loans."
"We are pleased to support HUD on its sixth, multi-billion dollar sale of single-family loans in the past 22 months," added Erhiuvie Abu, President and CEO, SEBA Professional Services, LLC.
These sales are "no longer a one-off transaction type for HUD, the agency is now selling billions and billions of dollars of these loans on a regular basis," Greenland told GlobeSt.com in an earlier interview.
For more news and information visit Blumberg Capital Partners.
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