The sale of a portfolio of home-equity lines of credit that are both performing and non-performing has been successfully executed.
A large bank has completed the sale of approximately $52 million in performing and non-performing HELOCs.
The buyer in the transaction, which involved HELOCs that are seasoned and in first-lien position, was a large fund.
Mortgage Industry Advisory Corp., which announced the sale Thursday, said it completed the sale through its whole-loan desk.
“This was the final population for the seller, allowing them to streamline their mortgage book and servicing operations,” MIAC stated.
Investors who are interested in bidding on other offerings can contact MIAC Capital Markets Managing Director Steve Harris at 212.233.1250, extension 212, or [email protected]ytics.com.
