MountainView Financial Solutions announced Monday it will serve as the exclusive sale advisor for a pool of 1,667 first‐ and second‐lien performing and non-performing loans, with a balance totaling $97.4 million.
The financial services advisory is accepting indicative bids for the offering until 2 p.m. EST, on April 3.
According to MountainView, the pool is being segmented into four sub‐pools:
- 1,060 second‐lien performing loans with a total balance of $47.9 million;
- 294 first‐lien performing loans with a total balance of $28.4 million;
- 265 secured, second‐lien non‐performing loans with a total balance of $15.4 million; and
- 48 first‐lien non-performing loans with a total balance of $5.7 million.
Bidders have the flexibility to bid on the entire pool or any of the four sub‐pools, the company explained in a press release.
“It’s rare to see such a large amount of second-lien performing loans in the market, so we expect a high level of interest in this sub‐pool from banks and other frequent buyers of seconds,” said Jonas Roth, a managing director at MountainView and one of the lead advisors on the sale. “We also expect aggressive competition for the other sub-pools from investors who focus on specific product types. Due to high demand, seasoned residential assets, whether performing or non‐performing, are getting bid to record low-level yields.”
