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Home loan sale advisor MountainView Capital Group announced that it facilitated a transfer of 3,177 non-performing, unsecured second-lien mortgage loans with an unpaid principal balance of $177.3 million this past week.
The deal, which was cut between an asset manager and a special servicer, closed on Feb. 1. It was large enough for Jonas Roth, a managing director at MountainView Capital Group to call it "one of the largest (second-lien transfers) to trade in the secondary market in the past 13 months."
The loan pool went from a special servicer to an asset manager, carrying loans largely concentrated in California, Nevada and Florida.
"Market demand far exceeded supply in the second lien space last year, and we are expecting several more pools to come to market in the first quarter of 2013," added Roth. "Any performing or non-performing closed- end seconds or HELOCs will attract multiple bidders."
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