MountainView is handling the sale of a portfolio of first-lien, nonperforming residential loans with about $106 million of unpaid principal balance (UPB).
The pool of 641 loans has a total real estate value of about $96.4 million, based on broker price opinions.
About 85% of the loans are secured by single-family residential properties. The top states for these mortgages are New Jersey (18%), New York (11%), Florida (8%), Maryland (6%) and Illinois (5%).
“Our client continues to be one of the most active players in the distressed residential whole loan space,” says Jonas Roth, a managing director at MountainView and one of the lead advisors on the sale, in a statement. “Over the last few years, they have become a programmatic seller of both NPLs and RPLs, and this pool represents a small subset of their overall portfolio.”
Bids for the offering are due Nov. 8.
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