FDIC, DebtX Reach Five-Year Agreement to Dispose Nonperforming Assets
DebtX, the largest marketplace for loans, has signed a new five-year agreement with the Federal Deposit Insurance Corp. to sell assets held as receivership in the U.S. government corporation’s portfolio.
Since December 2007, the Boston-based full-service loan sale advisor for commercial, consumer and specialty finance debt has completed more than 60 transactions for the FDIC totaling $4.8 billion.
The FDIC is one of several government agencies that utilize DebtX to dispose assets held in receivership. DebtX also sells loans for the Department of Housing and Urban Development as exclusive transaction specialist for multifamily and healthcare loan sales as well as single-family residential loan sales.
Additionally, DebtX is financial advisor on both the United States and European panels of Ireland’s National Asset Management Agency.
Throughout the disposition process, DebtX’s loan sale team works with financial institution on all aspects of the sale, providing valuation, marketing, due diligence and other support services. In addition, DebtX offers valuation and analytics solutions that enable marketplace participants to understand price and liquidity trends.