Almost $200 Million of Mixed Residential Loans are Sold

Mission Capital Advisors, a commercial, residential and consumer loan and asset sale advisor, has brokered the sale of two residential mortgage loan portfolios with a balance of $195 million. The first deal consisted of $157 million of home loans, 73 of which are performing and 437 of which were subperforming or nonperforming first and junior liens. The deal also included 78 real estate-owned assets. The second deal consisted of a $37 million portfolio of 99 performing and 68 subperforming or nonperforming first and second liens. That deal included 105 ARM loans and 62 fixed-rate loans. Joseph Runk Jr., principal of Mission Capital Advisors, said that despite a "constrictive environment," there are still "a significant number of buyers entering the market who are seeking to add to their portfolios."