Buyers looking to acquire a pool of non-performing loans have that opportunity, as a $106 million pool of non-performing loans is now on the market, according to MountainView, which is acting as the exclusive advisor for the sale.
Per details provided by MountainView, the NPL pool consists of 641 loans that carry an unpaid principal balance of $106,825,324. The loans carry a broker price opinion of $96,441,220.
Of the 641 loans in the pool, 85% are for single-family residential properties.
According to MountainView, the top states in the NPL pool are New Jersey (18%), New York (11%), Florida (8%), Maryland (6%) and Illinois (5%).
MountainView is not disclosing the seller, but the advisor said that the loans are being sold by a residential mortgage loan asset manager.
“Our client continues to be one of the most active players in the distressed residential whole loan space,” said Jonas Roth, a managing director at MountainView and one of the lead advisors on the sale. “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.”