By Brian Honea
Three of the nation’s largest mortgage lenders have put sizeable packages of nonperforming and reperforming mortgage loans on the market for investors to buy, according to a release from New York-based loan broker Mission Capital Advisors. The loans being put on the market are worth a combined $4.5 billion, Mission Capital said. Bank of America has put up approximately $2.56 billion worth of delinquent debt for sale, including nonperforming loans, reperforming mortgages (those in which the borrower was 90 days or more behind but has resumed making payments), and home equity lines of credit (HELOCs), according to Mission Capital.
The post $4.5 Billion in Nonperforming Loans, Delinquent Debt to Hit the Market appeared first on DSNews.
Via:: $4.5 Billion in Nonperforming Loans, Delinquent Debt to Hit the Market
Share this article
